✨ Financial Statements
3264
NEW ZEALAND GAZETTE, No. 117
3 AUGUST 2011
TSB Community Trust
Notes to the Financial Statements
For the year ended 31 March 2011
- Property, Plant & Equipment (continued)
| Building Fit Out $ | Furniture & Fittings $ | Other Fixed Assets $ | Total $ | |
|---|---|---|---|---|
| 2010 | ||||
| Cost | 2,070 | 16,969 | 115,520 | 134,559 |
| Accumulated depn | (2,070) | (11,345) | (87,447) | (100,862) |
| Opening net book value | - | 5,624 | 28,073 | 33,697 |
| Additions | - | - | 20,407 | 20,407 |
| Depreciation | - | (1,737) | (17,319) | (19,056) |
| Closing net book value | - | 3,887 | 31,161 | 35,048 |
| Cost | 2,070 | 16,969 | 135,927 | 154,966 |
| Accumulated depn | (2,070) | (13,082) | (104,766) | (119,918) |
| - | 3,887 | 31,161 | 35,048 |
- Trust Capital
| 2011 $ | 2010 $ | |
|---|---|---|
| Trust capital | 100 | 100 |
| Equity | 10,000,000 | 10,000,000 |
| 10,000,100 | 10,000,100 |
Equity comprises 20,000,000 fully paid shares at 50c each in the TSB Bank Limited.
- Retained Earnings & Reserve Fund
| 2011 $ | 2010 $ | |
|---|---|---|
| Retained Earnings | ||
| Balance at beginning of year | 10,571,296 | 6,884,498 |
| Comprehensive income | 2,839,265 | 4,280,870 |
| Transfer from (to) reserve fund | (1,603,000) | (594,072) |
| Balance at end of year | 11,807,561 | 10,571,296 |
| Reserve Fund | ||
| Balance at beginning of year | 5,000,000 | 4,405,928 |
| Transfer from (to) retained earnings | 1,603,000 | 594,072 |
| Balance at end of year | 6,603,000 | 5,000,000 |
The reserve fund has been established as a contingency fund against fluctuations in the TSB Bank Limited annual dividends. This fund shall be sufficient to meet approximately one years operating costs, multi-year commitments for all years and annual grants for the year.
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NZ Gazette 2011, No 117
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TSB Community Trust Financial Statements
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💰 Finance & Revenue5 July 2011
Financial Statements, Accounting Policies, Community Trusts, TSB