✨ Financial Statements Notes
2712 NEW ZEALAND GAZETTE, No. 101 6 AUGUST 2013
TSB Community Trust
Notes to the Financial Statements
For the year ended 31 March 2013
- 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 16 July 2013.
Change in Accounting Policies
The accounting policies have been consistently applied to all periods presented unless otherwise stated.
Standards and Interpretations Not Yet Adopted
New amendments to standards and interpretations of standards have been issued by the External Reporting Board that are not yet effective in the preparation of these financial statements. These are not expected to have a significant impact on the financial statements of the Trust, except for NZ IFRS 9: Financial Instruments, that could change the classification and measurement of financial assets.
Basis of Preparation
The financial statements are prepared on the historical cost basis. The accounting policies are selected and applied in a manner which ensures that the resulting financial information satisfies the concepts of relevance and reliability, thereby ensuring that the substance of the underlying transaction or other events is reported.
Presentation Currency and Rounding
The financial statements are presented in New Zealand dollars and are rounded to the nearest whole dollar.
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NZ Gazette 2013, No 101
✨ LLM interpretation of page content
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TSB Community Trust Financial Statements
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🏢 State Enterprises & Insurance16 July 2013
Financial statements, TSB Community Trust, Community Trusts Act 1999