New Zealand Gazette – 2007 – No. 84

Page 2210

✨ Financial Statements



2210 NEW ZEALAND GAZETTE, No. 84 26 JULY 2007

Changes in Accounting Policies

There have been no specific changes in accounting policies and they have been applied on a consistent basis with those of the previous period.

2. Analysis of Equity

The trust deed makes distinction between trust capital and accumulated trustees’ income. The equity of the trust consists of the following:

2007 $ 2006 $
Capital:
Trust capital 100 100
Initial gift 10,000,000 10,000,000
10,000,100 10,000,100
Balance at beginning of year 8,044,390 7,554,365
Net surplus/(deficit) held by trustee (1,592,057) 490,025
Balance at end of year 6,452,333 8,044,390
$16,452,433 $18,044,490

3. Property, Plant and Equipment Summary

Cost $ Accumulated Depreciation $ Book Value $
2007
Buildings 2,070 2,070 –
Fixtures and fittings 9,913 5,721 4,192
Other fixed assets 136,232 100,902 35,330
148,215 108,693 39,522

| 2006 | | | |
| Buildings | 2,070 | 1,554 | 516 |
| Fixtures and fittings | 9,913 | 3,242 | 6,671 |
| Other fixed assets | 122,311 | 75,049 | 47,262 |
| | 134,294 | 79,845 | 54,449 |

4. Investments

2007 $ 2006 $
Other investments:
Shares in TSB Bank Limited 10,000,000 10,000,000
TSB Bank Limited investments – 2,850,000
TSB Bank Limited investments – reserve held 1,550,000 2,000,000
11,550,000 14,850,000

5. Contingent Liabilities

2007 $ 2006 $
Donations confirmed but the distribution is subject to the donees’ meeting certain conditions 698,500 –

6. Capital Commitments

There are no capital commitments at year end (31 March 2006 – $Nil).

7. Related Parties

The trust paid donations throughout the year to community organisations of which the trustees may be members. These donations were made on normal terms and conditions. There were no amounts outstanding at 31 March 2007 relating to these transactions.

8. Reconciliation of Net Profit with Cash Flows From Operating Activities

2007 $ 2006 $
Reported surplus (1,592,057) 490,025
Add non-cash items:
Depreciation and loss on disposal 31,789 29,615
Add/(less) movements in other working capital items: (1,560,268) 519,640
Increase/(decrease) in sundry creditors (1,046,856) 1,346,800
(Increase)/decrease in sundry debtors (572,076) (472,563)
Net cash inflow/(outflow) from operating activities (3,179,200) 1,393,877


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2007, No 84


Gazette.govt.nz — PDF NZ Gazette 2007, No 84




✨ LLM interpretation of page content

💰 TSB Community Trust Financial Statements for the Year Ended 31 March 2007 (continued from previous page)

💰 Finance & Revenue
21 June 2007
Financial Performance, Income, Expenses, Equity, Assets, Liabilities, Trustees