PAYMENTS
£ s. d.
Withdrawals ... 2,017,661 19 3
Advances made ... 282,796 0 0
New Zealand Government inscribed stock and local body debentures purchased ... 268,000 0 0
Management, administration charges including salaries, audit fee, and trustees fees ... 19,364 10 1
Bank rates and insurance premiums ... 560 17 11
Advertising, printing, and stationery ... 1,742 11 6
Income taxation and social security charge ... 12,421 7 9
Donations ... 590 0 0
Insurance premiums and rates advanced to borrowers ... 36 4 6
Expenses inspecting and maintaining securities Share earthquake insurance premiums paid to mortgagors ... 139 15 6
Withdrawals and transfers of National Savings deposits and interest paid to depositors ... 367,384 18 0
Furniture and office plant purchased ... 1,237 6 8
Bank property purchased ... 21,153 7 4
Trustee Savings Bank transfers ... 21,920 18 2
National Savings investments ... 7,000 0 0
Bank legal fees ... 15 13 6
Cash and bank balances ... 149,860 1 9
£3,171,894 19 2
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1956
Dr.
Interest credited to depositors' accounts ... 86,497 9 10
Interest credited to Staff Provident Fund ... 547 13 9
Charges and administration expenses including expenses inspecting securities, less valuation fees received ... 21,458 7 4
Depreciation ... 1,587 16 10
Provision for taxation ... 13,700 0 0
Net profit transferred to Profit and Loss Appropriation Account ... 14,151 4 1
£137,942 11 10
Cr.
Interest accrued and received from-
Mortgages ... 72,702 1 2
Investments ... 63,885 7 10
Commissions, rents, sundry receipts, and refunds 1,355 2 10
£137,942 11 10
APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1956
Dr.
Donations ... 590 0 0
Balance transferred to Reserve Fund ... 15,672 14 1
£16,262 14 1
Cr.
Refund of scholarships unused ... 60 0 0
Government stock discount ... 2,051 10 0
Net profit ... 14,151 4 1
£16,262 14 1
DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1956
Dr.
£ s. d. £ s. d.
Interest credited to depositors' accounts ... 86,497 9 10
Interest credited to Staff Provident Fund ... 547 13 9
Salaries and audit fee ... 14,447 6 0
Trustees fees ... 725 5 0
Printing, advertising, and stationery ... 1,742 11 6
Trustees travelling and inspection fees, less valuation fees received ... 37 14 6
Rates and fire insurance premiums on bank premises ... 560 17 11
Share of earthquake premiums of properties mortgaged to the bank ... 9 7 3
Legal costs ... 15 13 6
Charges-
Staff Provident Fund contributions ... 558 10 9
Rent branch premises ... 603 11 5
Cleaning ... 475 10 3
Lighting and heating ... 176 4 7
General office expenses ... 1,933 0 5
Expenses maintaining and repairing bank premises ... 172 14 3
Depreciation bank premises and furniture ... 1,587 16 10
Provision for taxation ... 13,700 0 0
Net profit transferred to Profit and Loss Appropriation Account ... 14,151 4 1
£137,942 11 10
Cr.
Interest accrued and received from-
Mortgages ... 72,702 1 2
Investments ... 63,885 7 10
Commissions, rents, sundry receipts, and refunds ... 1,355 2 10
£137,942 11 10
BALANCE SHEET AS AT 31 MARCH 1956
Depositors' balances-
Savings Bank department ... 3,775,366 9 2
Ordinary depositors' total ... 3,775,366 9 2
National Savings depositors' total ... 1,103,282 10 11
Add National Savings Interest Suspense Account ... 24,708 5 9
Other liabilities-
Staff Provident Fund ... 11,256 0 6
Provision for taxation ... 14,389 5 6
Amounts owing to other trustee savings banks ... 55 7 9
Total other liabilities ... 25,700 13 9
Total of liabilities and provisions ... 4,929,057 19 7
Reserve Fund-
Balance, 1 April 1955 ... 179,221 3 5
Add Balance Appropriation Account ... 15,672 14 1
£5,123,951 17 1
Current assets-
Cash in hand and at bankers on Current Account ... 148,319 5 1
Fixed deposit accounts at bankers ... 150,000 0 0
Interest due and accrued on investments ... 22,366 12 7
Total current assets ... 320,685 17 8
Investments-
N.Z. Government inscribed stock and war loans at par value ... 1,825,535 0 0
National Savings accounts ... 7,000 0 0
Local body debentures ... 156,825 6 2
First mortgage on freehold property ... 1,638,963 18 5
Total investments ... 3,628,324 4 7
Total current assets and investments ... 3,949,010 2 3
National Savings securities-
N.Z. Government inscribed stock ... 1,126,450 0 0
Cash in hand and at bank ... 1,540 16 8
Total securing National Savings depositors ... 1,127,990 16 8
Total current assets, investments and securities ... 5,077,000 18 11
Fixed assets at cost less depreciation-
Premises and property ... 36,993 1 5
Office plant, fittings, furniture, and home safes ... 9,957 16 9
Total fixed assets ... 46,950 18 2
£5,123,951 17 1
A. F. SANDFORD, President.
E. A. EVANS, General Manager.
We, the undersigned, being the auditors of the New Plymouth 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 1956; (3) the 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 true and correct view of the state of affairs of the New Plymouth Savings Bank according to the best of our information and the explanations given to us and as shown by the books of the Bank.
WYNYARD AND RIDLAND,
Public Accountants and Auditors.
New Plymouth, 30 April 1956.