New Zealand Gazette – 2014 – No. 87

Page 2449

✨ Financial Statements



4 AUGUST 2014 NEW ZEALAND GAZETTE, No. 87 2449

TSB Community Trust

Notes to the Financial Statements

For the year ended 31 March 2014

  1. Intangible Assets
2014 Database Project $ Total $
Cost
Opening balance 9,212 9,212
Additions 43,359 43,359
Closing balance 52,571 52,571

| Closing net book value | | |
| Balance as at 1 April 2013 | 9,212 | 9,212 |
| Balance as at 31 March 2014 | 52,571 | 52,571 |

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.

  1. Trust Capital
2014 $ 2013 $
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.

  1. 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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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2014, No 87




✨ LLM interpretation of page content

💰 TSB Community Trust Financial Statements (continued from previous page)

💰 Finance & Revenue
15 July 2014
Financial Statements, Community Trusts, TSB, Accounting Policies, Grants, Contingent Liabilities, NZ IFRS