New Zealand Gazette – 2008 – No. 131

Page 3441

✨ Financial Statements Continuation



21 AUGUST 2008 NEW ZEALAND GAZETTE, No. 131 3441

  1. Property, Plant & Equipment
Buildings $ Furniture & Fittings $ Other Fixed Assets $ Total $
2008
Cost 2,070 9,913 136,232 148,215
Accumulated depreciation (2,070) (5,721) (100,902) (108,693)
Opening net book value – 4,192 35,330 39,522
Additions – – 8,084 8,084
Disposals – – (476) (476)
Depreciation – (2,477) (26,898) (29,375)
Closing net book value – 1,715 16,040 17,755
Cost 2,070 9,913 125,518 137,501
Accumulated depreciation (2,070) (8,198) (109,478) (119,746)
Buildings $ Furniture & Fittings $ Other Fixed Assets $ Total $
2007
Cost 2,070 9,913 122,311 134,294
Accumulated depreciation (1,554) (3,242) (75,049) (79,845)
Opening net book value 516 6,671 47,262 54,449
Additions – – 16,862 16,862
Disposals – – (386) (386)
Depreciation (516) (2,479) (28,408) (31,403)
Closing net book value – 4,192 35,330 39,522
Cost 2,070 9,913 136,232 148,215
Accumulated depreciation (2,070) (5,721) (109,902) (108,693)
  1. Trust Capital
2008 $ 2007 $
Trust capital 100 100
Initial gift 10,000,000 10,000,000

The initial gift comprises 20,000,000 fully paid shares at 50 cents each in the TSB Bank Limited.

  1. Retained Earnings
2008 $ 2007 $
Balance at beginning of year 6,452,333 8,044,390
Net profit/(loss) 2,128,638 (1,592,057)
Balance at end of year 8,580,971 6,452,333
  1. Reconciliation of Net Surplus With Net Cash Flows From Operating Activities
2008 $ 2007 $
Net surplus 2,128,638 (1,592,057)
Add back:
Depreciation 29,375 31,403
Loss on disposal 476 386
2,158,489 (1,560,268)
Add/deduct:
(Increase)/decrease in trade and other receivables (702,705) (572,076)
Increase/(decrease) in trade and other payables (267,477) (1,046,856)
1,188,307 (3,179,200)
  1. Related Parties

Subsidiary
During the year, the trust received dividend and interest income from, and invested funds with its wholly-owned subsidiary, TSB Bank Limited, as follows:



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Gazette.govt.nz — PDF NZ Gazette 2008, No 131




✨ LLM interpretation of page content

🏢 Notes to the Financial Statements for the Year Ended 31 March 2008 (continued from previous page)

🏢 State Enterprises & Insurance
Property, Plant & Equipment, Trust Capital, Retained Earnings, Reconciliation of Net Surplus, Related Parties, Financial Instruments, Revenue Recognition, Financial Liabilities, Goods and Services Tax, Taxation, Property, Plant and Equipment