4 AUGUST 2014 NEW ZEALAND GAZETTE, No. 87 2447

TSB Community Trust

Notes to the Financial Statements

For the year ended 31 March 2014

2. Interest
   | | 2014 | 2013 |
   |------------------|-----------|-----------|
   | | $ | $ |
   | Bank deposits | 788,783 | 748,981 |
   | Held to maturity investments | 171,960 | 170,952 |
   | Total | 960,743 | 919,933 |

3. Cash and Cash Equivalents
   | | 2014 | 2013 |
   |------------------------------|-----------|-----------|
   | | $ | $ |
   | Petty cash | 396 | 174 |
   | TSB Bank cheque account | 528,083 | 2,433,286 |
   | TSB Bank reserve interest account | 370,396 | 291,476 |
   | Total | 898,875 | 2,724,936 |

4. Trade and Other Receivables
   | | 2014 | 2013 |
   |------------------------------|-------------|-------------|
   | | $ | $ |
   | Dividend receivable | 6,850,000 | 7,675,000 |
   | Accrued interest | 234,913 | 236,129 |
   | Accounts receivable | 29,625 | 500 |
   | Total | 7,114,538 | 7,911,629 |

5. Trade and Other Payables
   | | 2014 | 2013 |
   |----------------------|-----------|-------------|
   | | $ | $ |
   | Grants payable | - | 4,500,000 |
   | Employee entitlements| 30,157 | 27,979 |
   | Accounts payable | 67,512 | 30,050 |
   | Total | 97,669 | 4,558,029 |

6. Investments

   Current

   Loans and receivables carried at amortised cost:
   | | 2014 | 2013 |
   |------------------------------|-------------|-------------|
   | | $ | $ |
   | TSB Bank Limited term deposits | 12,400,000 | 11,495,000 |
   | Total Current | 12,400,000 | 11,495,000 |

Non Current

Loans and receivables carried at amortised cost:
| | 2014 | 2013 |
|------------------------------|-------------|-------------|
| | $ | $ |
| TSB Bank Limited term deposits | 3,550,000 | 3,250,000 |

Held-to-maturity investments carried at amortised cost:
| | 2014 | 2013 |
|------------------------------|-------------|-------------|
| | $ | $ |
| Solid Energy Limited Fixed Rate Notes | 1,000,000 | 1,000,000 |
| Mighty River Power Ltd Floating Rate Bonds | 2,000,000 | 2,000,000 |

Investments in subsidiaries carried at cost:
| | 2014 | 2013 |
|------------------------------|-------------|-------------|
| | $ | $ |
| Shares In TSB Bank Limited | 10,000,000 | 10,000,000 |
| Total Non Current | 16,550,000 | 16,250,000 |

The Trust acknowledges the uncertainty of the future of Solid Energy Limited. The Trust considers its holding in Solid Energy Limited Fixed Rate Notes not to be impaired at balance date.