22 SEPT.

THE NEW ZEALAND GAZETTE

1547

PAYMENTS

Savings Bank withdrawals .. .. 14,855,688 4 5
National Savings repayments .. .. 656,913 6 9
Provident Fund .. .. .. 1,676 19 11
Local-body investments .. .. 550,951 19 4
New Zealand Government inscribed stock advances .. .. .. 361,670 0 0
National Savings securities .. .. 160,000 0 0
National Savings bonds .. .. 2,205 0 0
National Savings bonds investments .. 54 15 0
Mortgage advances .. .. 2,664,864 0 0
Charges .. .. .. 143,854 18 3
Commissions .. .. .. 1,273 4 2
Local-body debenture interest refunded 409 0 10
Furniture and fittings .. .. 798 13 4
Office calculating and book-keeping machines.. 5,880 19 6
Buildings and property .. .. 22,353 13 3
Buildings alterations .. .. 2,500 10 4
Rent .. .. .. .. 753 5 0
Donations .. .. .. 20,000 0 0
Interest Suspense Account on investments 191 15 8
Mortgage sundries .. .. 565 3 9
Mortgagors’ Suspense Account .. 9,623 4 0
Earthquake and war damage insurance 199 6 7
Mortgage securities inspections .. 1,793 6 1
Income and social security taxes .. 59,818 19 9
Debenture premiums and charges .. 250 0 0
Motor cars .. .. .. 2,643 12 3
Balance, Current Account, £ s. d.
Bank of New Zealand .. 1,656,625 6 6
Balance, cash in hand .. 161,772 6 0

£21,145,531 12 8

BALANCE SHEET OF AUCKLAND SAVINGS BANK AS AT 31 MARCH 1955

Depositors’ Balances:
Savings-bank department .. 25,771,356 6 10
Thrift clubs department .. 648,619 18 5
School banks department .. 101,128 19 7
Ordinary depositors’ total .. 26,521,105 4 10
National Savings depositors’ total .. 4,259,936 0 8
Add National Savings Interest Suspense Account 79,763 6 9 4,339,099 7 5

Other liabilities:
Staff Provident Fund .. 207,272 9 5
Provision for taxation .. 87,576 17 6
Provision for donations .. 30,000 0 0
Total of other liabilities.. 324,849 6 11

Total of liabilities and provisions .. 31,185,053 19 2

Reserve Funds:
Balance, 1 April 1954 .. 1,678,930 19 6
Add balance, Reserve Suspense Account 1,366 8 2
Add balance, provision for taxation (1954 Account) 1,251 7 1

1,681,548 14 9
Add balance, Appropriation Account 70,012 18 8 1,751,561 13 5

£32,936,615 12 7

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1955

Dr.
Interest on depositors’ closed accounts .. £ s. d. £ s. d.
12,697 6 7
Interest on depositors’ open accounts .. 586,023 19 4 598,721 5 11
Interest on Provident Fund 142,821 11 6 9,541 12 2
Charges, ordinary ..
Charges, Provident Fund .. 9,347 6 11

152,168 18 4
Loss on home safes .. .. 449 17 2
Depreciation on buildings .. 9,944 4 3
Depreciation on furniture and fittings .. 4,651 17 1
Depreciation on office calculating and book-keeping machines 4,180 19 6
Depreciation on home safes .. 41 11 10
Depreciation on motor cars 643 12 3

19,462 4 11
Provision for taxation .. .. 87,576 17 6
Net profit .. .. .. 100,452 2 4

£668,372 18 4

Cr.
Interest on Bank of New Zealand Current Account .. 21,149 17 8
Interest on New Zealand Government inscribed stock 495,415 16 3
Interest on National Savings bonds 985 15 0
Interest on local-body debentures 120,769 3 2
Interest on mortgages .. 321,749 2 9
Interest on investments .. 860,069 14 8
Interest on advance payment of income tax .. 500 0 0
Rent .. .. .. 3,187 8 4
Safe custody fees .. .. 223 8 0
Exchange and commissions .. 3,539 17 4
Bad debts recovered .. 852 10 0

£668,372 18 4.

APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1955

Dr.
Charges, etc., on debenture purchases .. £ s. d.
439 3 8
Provision for donations .. 80,000 0 0
Balance to Reserve Fund .. 70,012 18 8

£100,452 2 4

Cr.
Net profit .. .. .. 100,452 2 4

£100,452 2 4

Current assets:
Cash in hand and at bankers 1,805,298 5 1
Interest due and accrued on investments, etc. .. 185,438 6 10
Total current assets .. 1,990,736 11 11

Investments:
New Zealand Government inscribed stock.. 14,865,711 19 0
National Savings bonds .. 31,234 1 6
Local-body debentures .. 3,360,062 12 10
Mortgages .. 8,118,270 19 11
Total investments .. 26,375,279 13 3

Total of current assets and investments .. 28,366,016 5 2

National Savings Securities:
New Zealand Government inscribed stock.. 4,326,000 0 0
Cash in hand .. 13,099 7 5
Total securing National Savings depositors 4,339,099 7 5
Total of current assets, investments, and securities .. 32,705,115 12 7

Fixed assets at cost, less depreciation:
Premises and property .. 150,000 0 0
Furniture and fittings, £50,903 19s. 7d.; less depreciation reserve, £8,508 10s. 7d. 42,400 0 0
Office calculating and book-keeping machines, £39,541 19s. 9d.; less depreciation reserve, £3,541 19s. 9d. 35,700 0 0
Home safes, £697 13s. 4d.; less depreciation reserve, £647 13s. 4d. 50 0 0
Motor cars, £3,442 9s. 6d.; less depreciation reserve, £92 9s. 6d. 3,350 0 0
Total fixed assets .. 231,500 0 0

£32,936,615 12 7

W. H. PRICE, President.
F. E. SUTHERLAND, General Manager.

We, the undersigned, being the auditors of the Auckland Savings Bank, appointed in terms of section 29 (3) of the Trustee Savings Banks Act 1948, report: (1) We have examined the books, accounts, and vouchers of the Bank, and have received all the information and explanations we have required; (2) We have verified the cash, investments, securities, and assets of the Bank as at 31 March 1955; (3) The General Manager has certified that to the best of his knowledge and belief all requirements of the Trustee Savings Banks Act 1948 and regulations thereunder have been complied with.

In our opinion the above balance sheet is drawn up so as to exhibit a correct view of the state of affairs of the Auckland Savings Bank according to the best of our information and the explanations given to us, and as shown by the books of the Bank.

D. C. O’HALLORAN, B.Com., F.P.A.N.Z.
A. J. POSTLES, A.P.A.N.Z.
} Auditors.

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