✨ Financial Statements
2722 NEW ZEALAND GAZETTE, No. 101 6 AUGUST 2013
TSB Community Trust
Notes to the Financial Statements
For the year ended 31 March 2013
11. Reconciliation of Net Surplus with Net Cash Flow from Operating Activities
| 2013 | 2012 | |
|---|---|---|
| $ | $ | |
| Net Surplus | 803,561 | 4,737,023 |
| Add back | ||
| Depreciation | 25,955 | 22,644 |
| 829,516 | 4,759,667 | |
| Add/(deduct) | ||
| (inc)/decrease in trade and other receivables | (253,493) | (941,240) |
| inc/(decrease) in trade and other payables | 4,499,557 | (999,044) |
| 5,075,580 | 2,819,383 |
12. 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:
| 2013 | 2012 | |
|---|---|---|
| $ | $ | |
| Dividend income | 11,025,000 | 10,000,000 |
| Interest income | 748,981 | 599,176 |
The amounts outstanding at balance date were:
| 2013 | 2012 | |
|---|---|---|
| $ | $ | |
| Dividends receivable | 7,675,000 | 7,370,000 |
| Interest receivable | 189,347 | 238,117 |
| Term deposits | 14,745,000 | 11,995,000 |
Donations to Related Interests
| 2013 | 2012 | |
|---|---|---|
| $ | $ | |
| Donations paid | 6,116,200 | 1,081,350 |
| Donations pledged (donations approved but the distribution is subject to the donees' meeting certain conditions) | 538,000 | 335,000 |
| Amounts outstanding at balance date | 6,654,200 | 1,416,350 |
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 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, Reconciliation, Net Surplus, Cash Flow, Operating Activities, Related Parties, Subsidiary, Dividend Income, Interest Income, Donations