✨ Financial Statements
6 AUGUST 2013 NEW ZEALAND GAZETTE, No. 101 2721
TSB Community Trust
Notes to the Financial Statements
For the year ended 31 March 2013
- Intangible Assets
| 2013 | Database Project | Total |
|---|---|---|
| $ | $ | |
| Cost | ||
| Opening balance | — | — |
| Additions | 9,212 | 9,212 |
| Closing balance | 9,212 | 9,212 |
Closing net book value
| Balance as at 1 April 2012 | — | — |
| Balance as at 31 March 2013 | 9,212 | 9,212 |
The database project is in progress. The cost of the database will be amortised over a finite life upon completion of the project.
- Trust Capital
| 2013 | 2012 | |
|---|---|---|
| $ | $ | |
| 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 50 cents each gifted to the TSB Community Trust.
- Reserve Fund
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 two years operating costs, multi-year commitments for all years and annual grants for two years.
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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, Intangible Assets, Database Project, Trust Capital, Reserve Fund