✨ Financial Statements
3 AUGUST 2011 NEW ZEALAND GAZETTE, No. 117 3265
TSB Community Trust
Notes to the Financial Statements
For the year ended 31 March 2011
9. Reconciliation of Net Surplus with Net Cash Flow from Operating Activities
| 2011 | 2010 | |
|---|---|---|
| $ | $ | |
| Net Surplus | 2,839,265 | 4,280,870 |
| Add back | ||
| Depreciation | 29,555 | 19,056 |
| 2,868,820 | 4,299,926 | |
| Add/(deduct) | ||
| (inc)/decrease in trade and other receivables | 1,717,829 | (1,773,439) |
| inc/(decrease) in trade and other payables | (380,450) | 240,354 |
| 4,206,199 | 2,766,841 |
10. 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:
| 2011 | 2010 | |
|---|---|---|
| $ | $ | |
| Dividend income | 9,050,000 | 11,150,000 |
| Interest income | 470,717 | 318,163 |
The amounts outstanding at balance date were:
| 2011 | 2010 | |
|---|---|---|
| $ | $ | |
| Dividends receivable | 6,450,000 | 8,350,000 |
| Interest receivable | 220,345 | 35,831 |
| Short term deposits | 9,006,000 | 3,900,000 |
Donations to Related Interests
| 2011 | 2010 | |
|---|---|---|
| $ | $ | |
| Donations paid | 1,840,300 | 2,392,850 |
| Donations pledged (donations approved but the distribution is subject to the donees' meeting certain conditions) | 15,900 | 142,000 |
| Amounts outstanding at balance date | 91,140 | 125,115 |
The above related interests have been compiled based on a broad definition of related interests that would include not just where trustees are members of the board of a community organisation but also where the trustee is a member of the club/association, may in the past have been associated or has family members who are associated with the community organisation. Such conflicts are disclosed by the Trustees and during consideration of any grants, connected Trustees excuse themselves from such decisions.
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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