✨ Financial Statements
TSB Community Trust
Notes to the Financial Statements
For the year ended 31 March 2014
11. Reconciliation of Net Surplus with Net Cash Flow from Operating Activities
| 2014 | 2013 | |
|---|---|---|
| $ | $ | |
| Net Surplus | 3,081,336 | 803,561 |
Add back
| Depreciation | 27,618 | 25,955 |
(Add)/deduct
| (Inc)/decrease in trade and other receivables | 3,108,954 | 829,516 |
| (Inc)/decrease in trade and other payables | 797,091 | (253,493) |
| | (4,460,360)| 4,499,557 |
| | (554,315) | 5,075,580 |
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:
| 2014 | 2013 | |
|---|---|---|
| $ | $ | |
| Dividend income | 10,200,000 | 11,025,000 |
| Interest income | 788,783 | 748,981 |
The amounts outstanding at balance date were:
| 2014 | 2013 | |
|---|---|---|
| $ | $ | |
| Dividends receivable | 6,850,000 | 7,675,000 |
| Interest receivable | 186,341 | 189,347 |
| Term deposits | 15,950,000 | 14,745,000 |
Donations to Related Interests
| 2014 | 2013 | |
|---|---|---|
| $ | $ | |
| Donations paid | 1,178,032 | 6,116,200 |
| Donations pledged (donations | ||
| approved but the distribution is | ||
| subject to the donees' meeting | ||
| certain conditions) | 346,500 | 538,000 |
| Amounts outstanding at balance | ||
| date | 1,524,532 | 6,654,200 |
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 2014, No 87
✨ LLM interpretation of page content
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TSB Community Trust Financial Statements
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💰 Finance & Revenue15 July 2014
Financial Statements, Community Trusts, TSB, Accounting Policies, Grants, Contingent Liabilities, NZ IFRS