New Zealand Gazette – 2009 – No. 107

Page 2464

✨ Financial Statements Notes



2464 NEW ZEALAND GAZETTE, No. 107 24 JULY 2009

TSB Community Trust

Notes to the Financial Statements

For the year ended 31 March 2009

  1. Reconciliation of Net Surplus with Net Cash Flow from Operating Activities
2009 $ 2008 $
Net Surplus 2,709,456 2,128,638
Add back
Depreciation 15,744 29,375
Loss on disposal 3,037 476
2,728,237 2,158,489

Add/deduct
(inc)/decrease in trade and other receivables| (348,628) | (702,705) |
inc/(decrease) in trade and other payables | 566,538 | (267,477) |
Deduct increase in trade and other payables |
classified as investing activities | (10,643) | - |
| | 2,935,504 | 1,188,307 |

  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:

2009 $ 2008 $
Dividend income 9,200,000 8,800,000
Interest income 324,383 237,239

The amounts outstanding at balance date were:

2009 $ 2008 $
Dividends receivable 6,600,000 6,310,000
Interest receivable 61,285 2,657
Short term deposits 3,225,750 790,321

Donations to Related Interests

2009 $ 2008 $
1,187,034 160,052

The trust paid donations throughout the year to community organisations of which the trustees are members. There were no amounts outstanding at 31 March 2009 relating to these transactions.

Key Management Compensation

2009 $ 2008 $
Short term employees benefits 180,959 142,649
Short term trustee benefits 85,746 93,964
266,705 236,613

There were no long term benefits associated with key employees or trustees.



Next Page →



Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2009, No 107




✨ LLM interpretation of page content

🏢 TSB Community Trust Financial Statements Notes (continued from previous page)

🏢 State Enterprises & Insurance
Financial Statements, Net Surplus, Cash Flow, Depreciation, Related Parties, Dividends, Interest, Donations, Key Management Compensation