1550
THE NEW ZEALAND GAZETTE
No. 60

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1955

Dr.
Interest added to depositors’
accounts:
£ s. d. £ s. d.
Savings Bank accounts—
Open 121,377 8 0
Closed 2,803 16 3
124,181 4 3

National Savings accounts—
Open 12,991 11 9
Closed 231 9 1
13,223 0 10

Charges and management expenses 33,109 12 1
Depreciation:
Buildings 615 17 7
Furniture and fittings 312 10 7
Book-keeping machines 626 3 6
1,554 11 8
Provision for taxation 22,200 0 0
Net profit transferred to profit and Loss Appropriation Account 22,606 11 5
£216,875 0 3

Cr.
Interest on:
£ s. d. £ s. d.
P.O. Savings Bank Account 80 4 2
National Bank of New Zealand Ltd. Deposit Account 7,465 10 1
New Zealand Government stock 79,678 13 4
New Zealand Government stock—National Development Loan 13,946 18 3
Local-body debentures 39,343 17 4
Mortgages 60,495 3 3
201,010 6 5
Interest on National Savings securities 13,659 3 8
Rents 409 2 2
Exchange, commission, etc. 1,796 8 0
£216,875 0 3

PROFIT AND LOSS APPROPRIATION ACCOUNT

Dr.
£ s. d.
Provision for donations 4,000 0 0
Balance to Reserve Fund 18,606 11 5
£22,606 11 5

Cr.
Balance from Profit and Loss Account £22,606 11 5
£22,606 11 5

BALANCE SHEET AS AT 31 MARCH 1955

Liabilities
Depositors’ balances:
£ s. d. £ s. d.
Savings Bank accounts 6,194,805 13 7
Thrift clubs 5,608 17 6
6,200,414 11 1
National Savings accounts 440,902 10 5
Other liabilities:
National Savings Interest Suspense Account 9,659 9 11
Mortgage Interest Rebates Suspense Account 563 15 9
Provision for donations 4,000 0 0
Provisions for taxation 22,200 0 0
36,453 5 8
Total liabilities 6,677,770 16 2

Reserve Fund:
Balance at 1 April 1954 198,171 12 6
Add balance Investment Fluctuation Account 2,677 10 0
149,849 2 6
Less taxation under provided 28 11 11
149,820 10 7
Add balance Profit and Loss Appropriation Account 18,606 11 5
150,460 2 0
£6,837,200 18 2

Assets
Current Assets:
£ s. d. £ s. d.
Cash in hand and at banks 120,730 4 1
National Bank of New Zealand Ltd.—Fixed deposits 435,000 0 0
555,730 4 1

Interest due and accrued on investments £ s. d. £ s. d.
39,059 10 0

Investments:
New Zealand Government stock 2,651,505 0 0
New Zealand Government stock—National Development Loan 425,000 0 0
Local-body debentures 1,262,601 16 3
Mortgages 1,973,060 0 0
5,712,166 16 3

National Savings securities (New Zealand Government stock) 455,800 0 0

Total of current assets and investments 6,762,756 10 4

Fixed assets at cost, less depreciation:
Buildings 27,078 5 0
Additions—
Invercargill 24,999 14 0
Riverton 3,595 0 0
55,672 19 0
Less depreciation 615 17 7
55,057 1 5

Book-keeping and adding machines 5,769 0 0
Additions 241 17 6
6,010 17 6
Less depreciation 580 18 0
5,429 19 6

Office machines 603 0 0
Less depreciation 45 5 6
557 14 6

Office furniture 3,871 11 7
Additions 3,882 3 11
7,753 15 6
Less depreciation 812 10 7
7,441 4 11

Property Account 5,841 0 0
Additions—
Riverton 20 19 0
North Invercargill 43 0 9
5,904 19 9
Home safes on hand 53 7 9
£6,837,200 18 2

J. M. McCROSTIE, President.
J. T. SHAW, General Manager.

We, the undersigned, being the auditors of the Invercargill Savings Bank, appointed in terms of section 29 (3) of the Trustee Savings Banks Act 1948, report: (1) That we have examined the books, accounts, and vouchers of the Bank and have received all the information and explanations we have required; (2) That 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 the 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 true and correct view of the state of the affairs of the Invercargill Savings Bank according to the best of our information and the explanations given to us and as shown by the books of the Bank.

Invercargill, 12 May 1955.

1037 HENDERSON, ADAM AND CO., Auditors.

NEW PLYMOUTH SAVINGS BANK

STATEMENT of receipts and payments for the year ended 31 March 1955:

RECEIPTS
£ s. d.
Cash and bank balances 1 April 1954 161,000 19 10
Deposits received 1,017,086 8 2
Deposits received for National Savings 207,882 18 9
Loans and advances repaid 210,715 18 0
Interest on mortgages and investments 120,853 15 9
Valuation fees received 609 10 0
Refund on account of rates and insurance premiums 10 2 0
Repayment of debentures 5,241 2 11
Refund of Government stock unconvertible 6 12 0
Interest received from National Savings investments 38,169 3 10
Commission on Government stock and sundries 768 12 3
Trustee Savings Bank transfers 23,645 11 8
Home safes sold 58 12 0
Repayment Bank National Savings deposits 35,065 5 4
Transfers from Treasury re National Savings 30,000 0 0
Repayment Bank National Savings bonds 28,645 16 8
Rent received for Waitara House 105 0 0
£2,779,872 9 2