Aug. 17] THE NEW ZEALAND GAZETTE 1609

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31ST MARCH, 1950

Dr.
Interest paid to depositors .. .. .. £85,952 6 11
Charges and management expenses .. .. .. 17,296 17 11
Depreciation on buildings .. .. .. 1,165 0 0
Depreciation on furniture and office machinery .. .. .. 311 18 3
Provision for taxation .. .. .. 13,000 0 0
Net profit to appropriation account .. .. .. 8,948 2 3
————————
£126,674 5 4
==========

Cr.
Interest on National Bank Deposit Account .. .. .. £3,842 9 9
Interest on New Zealand Government inscribed
stock .. .. .. 76,897 6 10
Interest on local-body debentures .. .. .. 8,974 4 11
Interest on National savings bonds .. .. .. 2,200 2 2
Exchanges and commissions .. .. .. 1,392 5 11
Rents .. .. .. 263 9 2
Interest on mortgages .. .. .. 28,468 2 10
Bad debts recovered .. .. .. 4,593 13 9
Interest on Post-office Savings-bank deposit .. .. .. 42 10 0
————————
£126,674 5 4
==========

PROFIT AND LOSS APPROPRIATION ACCOUNT FOR YEAR ENDED
31ST MARCH, 1950

Dr.
Balance transferred to reserve fund .. .. .. £8,948 2 3
————————
£8,948 2 3
==========

Cr.
By net profit from Profit and Loss Account .. .. .. £8,948 2 3
————————
£8,948 2 3
==========

BALANCE-SHEET AS AT 31ST MARCH, 1950

Depositors balances—
£ s. d. £ s. d.
Savings-bank department 4,217,169 19 10
Thrift clubs 2,369 16 11
4,219,539 16 9
National savings depositors total .. .. .. 295,721 11 3
Other liabilities—
£ s. d.
Provision for taxation 13,000 0 0
Mortgage interest rebates
accrued 721 8 1
Total of current liabilities ————————
13,721 8 1
————————
Total of liabilities and provisions .. .. .. 4,528,982 16 1
Reserve Fund .. .. .. 98,256 10 0
————————
£4,627,239 6 1
==========

Current Assets—
£ s. d. £ s. d.
Cash in hand and at bankers 443,436 1 4
Interest due and accrued
on investments, mort-
gages, rents, &c. 23,996 2 6
Total current assets ————————
467,432 3 10
Investments—
New Zealand Government
stock, ordinary holdings 2,747,595 0 0
New Zealand Government
stock, National savings 284,880 0 0
National savings bonds 67,753 11 5
National savings account. 18,337 0 0
Public-body debentures 293,168 12 1
First mortgages on freehold
property 735,177 18 9
Total of investments ————————
4,146,912 2 3
————————
Total of Current Assets and Investments 4,614,344 6 1
Fixed assets at cost, less depreciation—
£ s. d.
Premises and property 12,500 0 0
Less depreciation 1,165 0 0
11,335 0 0
Furniture and office
machinery 1,871 18 3
Less depreciation 311 18 3
1,560 0 0
————————
£4,627,239 6 1
==========

D. W. STALKER, President.
H. R. WILLCOX, Manager.

I, the undersigned being the Auditor of the Invercargill Savings-bank, appointed in terms of section 29 (3) of the Trustee Savings-banks Act, 1948, report: (1) That I have examined the books, accounts, and vouchers of the bank, and have received all the information and explanations I have required; (2) that I have verified the cash, investments, securities, and assets of the bank as at 31st March, 1950; (3) that the manager has certified that, to the best of his knowledge and belief, all the requirements of the Trustee Savings-banks Act, 1948, and regulations thereunder, have been complied with.

In my opinion, the above balance-sheet is drawn up so as to exhibit a true and correct view of the state of affairs of the Invercargill Savings-bank according to the best of my information and the explanations given to me, and as shown by the books of the bank.

GEO. ADAMS, A.P.A.N.Z., Auditor.

Invercargill, 28th April, 1950. 376

HOKITIKA SAVINGS-BANK

STATEMENT of Receipts and Payments for the Year ended 31st March, 1950:—

RECEIPTS

£ s. d.
Cash in hand and at banks, 31st March, 1949 .. .. .. 26,698 17 1
Cash in National Savings Investment Account,
31st March, 1949 .. .. .. 6,872 14 10
Cash in National Savings bonds, 31st March, 1949 .. .. .. 13,125 0 0
Amount lodged by depositors .. .. .. 126,558 12 11
Interest credited depositors on closed accounts .. .. .. 131 16 0
Interest credited depositors on open accounts .. .. .. 8,590 7 2
Interest on mortgages .. .. .. 10,379 5 8
Interest on fixed deposits .. .. .. 544 5 0
Interest on New Zealand Government Inscribed
stock .. .. .. 3,591 9 1
Interest on Post-office Savings Bank Account .. .. .. 2 8 6
Interest on National Savings Investment Account .. .. .. 204 1 2
Interest on National Savings bonds .. .. .. 370 0 0
Interest on local-body loans .. .. .. 609 6 10
Rent of part of premises .. .. .. 65 0 0
Mortgage repayments .. .. .. 34,630 19 0
Local-body loan repayments .. .. .. 593 2 4
————————
£232,967 5 7
==========

PAYMENTS

£ s. d.
Amount repaid to depositors .. .. .. 94,672 8 3
Interest credited to depositors .. .. .. 8,722 3 2
Invested on first mortgage .. .. .. 53,403 8 0
Invested in New Zealand Government inscribed
stock .. .. .. 16,167 7 4
Donations .. .. .. 60 10 0
Charges .. .. .. 1,835 16 11
Social security and National security tax .. .. .. 427 2 2
Income tax .. .. .. 2,287 19 5
Office furniture purchased .. .. .. 178 0 0
Cash in hand and at Banks .. .. .. 40,677 14 4
Cash in National Savings Investment Account .. .. .. 1,076 16 0
Cash in National savings bonds .. .. .. 13,458 0 0
————————
£232,967 5 7
==========

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31ST MARCH, 1950

Dr.
Interest added on depositors’ closed
accounts £ s. d. £ s. d.
131 16 0
Interest on open accounts.. 8,590 7 2
————————
8,722 3 2
Charges .. .. .. 1,872 16 10
Depreciation—
Buildings 33 0 0
Office furniture 21 14 8
————————
54 14 8
Provision for taxation .. .. .. 3,180 6 4
Nett profit to Appropriation Account .. .. .. 2,997 15 5
————————
£16,827 16 5
==========

Cr.
Interest on fixed deposits .. .. .. £544 5 3
Interest on New Zealand Government inscribed
stock .. .. .. 3,744 10 5
Interest on National Savings Account and bonds .. .. .. 490 10 5
Interest on local-body debentures .. .. .. 603 4 1
Interest on Post-office Savings-bank Account .. .. .. 2 8 6
Interest on mortgages .. .. .. 10,379 5 8
Rents .. .. .. 65 0 0
Bad debts recovered .. .. .. 998 12 1
————————
£16,827 16 5
==========

PROFIT AND LOSS APPROPRIATION ACCOUNT FOR YEAR ENDED
31ST MARCH, 1950

Dr.
Donations .. .. .. £60 10 0
Balance transferred to Reserve Fund .. .. .. 2,937 5 5
————————
£2,997 15 5
==========

Cr.
Nett profit from Profit and Loss Account .. .. .. £2,997 15 5
————————
£2,997 15 5
==========