✨ Financial Statements Notes
24 JULY 2009 NEW ZEALAND GAZETTE, No. 107 2455
TSB Community Trust
Notes to the Financial Statements
For the year ended 31 March 2009
- Statement of Accounting Policies
Reporting Entity
TSB Community Trust is a public benefit entity domiciled in New Zealand. It was established by trust deed dated 30 May 1988 and adopted a revised deed on 8 February 2001.
The nature of the Trust’s operations is investment and application of the Trust funds for charitable purposes.
The financial statements of TSB Community Trust comply with the requirements of the Trust Deed and the Community Trust Act 1999.
These financial statements have been prepared in accordance with New Zealand Generally Accepted Accounting Practice (NZ GAAP). They comply with New Zealand equivalents to International Financial Reporting Standards (NZ IFRS) and other applicable Financial Reporting Standards, as appropriate for public benefit entities.
The financial statements were approved by the Trustees on 30 June 2009.
Change in Accounting Policies
The accounting policies have been consistently applied to all periods presented unless otherwise stated.
Standards Issued Not Yet Effective
The following new standards are not yet effective and have not been applied in the preparation of these financial statements. Adoption of these standards will not have any impact on the Trust’s reported profit or financial position.
NZ IFRS 8 - Operating Segments. NZ IFRS 8 replaces NZ IAS 14 - Segment Reporting. The new standard requires a "management approach", under which segment information is presented on the same basis as that used for internal reporting purposes.
NZ IAS 1 - Presentation of Financial Statements (Revised Standard) will apply to the Trust from 1 April 2009.
NZ IFRS 7 - Improving Disclosures about Financial Instruments (Amendments to NZ IFRS 7 Financial Instruments: Disclosures). This standard is effective for annual reporting periods beginning on or after 1 January 2009.
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NZ Gazette 2009, No 107
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TSB Community Trust Statement of Accounting Policies
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🏢 State Enterprises & Insurance30 June 2009
Accounting Policies, Financial Statements, NZ GAAP, NZ IFRS, TSB Community Trust