26 JULY

THE NEW ZEALAND GAZETTE

INVERCARGILL SAVINGS BANK

STATEMENT of receipts and payments for the year ended 31 March 1956.

RECEIPTS
Cash in hand and at banks, 1 April 1955 . . . . £ 120,730 4 1
Deposits--
Savings Bank accounts . . . . . . . 6,951,033 1 0
Thrift clubs . . . . . . 14,272 10 11
National Savings accounts . . . . 39,359 2 10
Interest--
New Zealand Government stock . . . . 96,888 0 4
Local body debentures . . . 43,418 9 6
Mortgages . . . . . . 61,487 12 2
Other investments . . . . 21,204 16 7
Principal repayments--
New Zealand Government stock . . 1,320 0 0
Local body . . . . . . 89,604 18 9
Mortgages . . . . . . 95,805 0 0
Other investments . . . . 250,000 0 0
Branch remittances . . . . 900,480 7 1
Other Trustee Savings Banks . . 1,011 4 10
Exchange, commission, etc. . . . 944 15 10
Rents . . . . . . 461 3 4
Sundry receipts . . . . 115 8 4
Valuation and inspection fees . . 462 0 0
Travelling expenses (refunds) . . 465 9 10
£8,689,064 5 5

PAYMENTS
Withdrawals--
Savings Bank accounts . . . . . . £ 6,802,030 19 6
Thrift clubs . . . . . . . . 14,204 7 0
National Savings accounts . . . . 61,939 0 7
New Zealand Government stock . . . 30,243 12 1
Local body debentures . . . . . 123,500 0 0
Mortgages . . . . . . . . 138,530 0 0
Other investments . . . . . 260,000 0 0
Charges . . . . . . . . 38,621 13 6
Furniture, fittings, and machines . . 2,132 19 9
Building additions . . . . . . 10,432 10 0
Donations . . . . . . . . . 4,135 0 0
Income and social security tax . . 22,195 6 1
Other Trustee Savings Banks . . . 10,604 0 4
Branch remittances . . . . . . 955,536 2 11
Miscellaneous payments . . . . . 364 12 8
Land: North Invercargill . . . . 494 17 0
Cash in hand and at banks, 31 March 1956 . . 214,099 4 0
£8,689,064 5 5

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1956
Dr.
Interest credited to depositors--
£ s. d.
£ s. d.
Savings Bank accounts--
Open . . . . . . . . 128,893 3 11
Closed . . . . . . . . 2,915 15 7
131,808 19 6
National Savings accounts--
Open . . . . . . . . 12,798 15 9
Closed . . . . . . . . . . 305 13 6
13,104 9 3
Charges and management expenses . . . . . . 38,989 16 5
Depreciation--
Buildings . . . . . . . . . . 7,233 12 11
Furniture and fittings . . . . . . . 622 16 11
Ledger posting and office machines . . . . 701 9 1
8,557 18 11
Provision for taxation . . . . . 18,500 0 0
Net profit transferred to Profit and Loss Appropriation Account . . 18,893 5 1
£229,854 9 2

Cr.
Interest on investments--
£ s. d.
£ s. d.
Local body debentures . . . . . . . . . 45,444 18 5
Mortgages . . . . . . . . . . . . 63,707 6 0
National Bank of New Zealand Ltd. fixed deposits . . 7,594 9 4
New Zealand Government stock . . . . 80,842 6 2
New Zealand Government stock--National Development Loan . 16,195 19 4
213,784 19 3
Interest on National Savings securities . . 13,674 0 0
Rents . . . . . . . . . . 461 3 4
Exchange, commission, etc. . . . . . 929 13 10
Valuation fees . . . . . . . . . . . 254 12 9
Bad debts recovered . . . . . . . . . 750 0 0
£229,854 9 2

PROFIT AND LOSS APPROPRIATION ACCOUNT
Dr.
£ s. d.
Provision for donations . . . . . . . . . 5,000 0 0
Balance to Reserve Fund . . . . . . 13,893 5 1
£18,893 5 1

Cr.
£ s. d.
Profit and Loss Account . . . . . . . 18,893 5 1
£18,893 5 1

BALANCE SHEET AS AT 31 MARCH 1956
Liabilities
Depositors' balances--
£ s. d.
£ s. d.
Savings Bank accounts . . . . . . 6,474,056 15 0
Thrift clubs . . . . . . . . . . 6,593 15 6
6,480,650 10 6
National Savings accounts . . . . . 431,574 14 0
Other liabilities--
National Savings Interest Suspense Account . . . 9,547 12 10
Mortgage Interest Rebates Suspense Account . . . 624 3 4
Provision for donations . . . . . . . . . 5,000 0 0
Provision for taxation . . . . . . . . . . 18,500 0 0
33,671 16 2
Total liabilities and provisions . . . . . . . . . 6,945,897 0 8
Reserve Fund--
Balance at 1 April 1955 . . . . . . . . . . . 159,430 2 0
Add Investment Fluctuation Account . . . . . . . 1,264 11 11
Add over-provision for tax 1955 . . . . . . . . . 4 13 11
160,699 7 10
Less extra provision for donations . . . . . . . 455 0 0
160,244 7 10
Add Profit and Loss Appropriation Account . . . . . . 13,893 5 1
174,137 12 11
£7,120,034 13 7

Assets
£ s. d.
£ s. d.
Cash in hand and at banks . . . . . . . . . . . 214,099 4 0
National Bank of New Zealand Ltd.--Fixed deposits . . 445,000 0 0
659,099 4 0
Branch remittances in transit . . . . . . . . . . . 10,064 12 9
Interest due and accrued on investments . . . . . . . . 41,911 5 9
Sundry debtors--Valuation fees . . . . . . . 27 8 6
52,003 7 0
Investments--
New Zealand Government stock . . . . . . . . . . . . . . 2,674,990 0 0
New Zealand Government stock--National Development Loan . . . . . 431,685 0 0
Local body debentures . . . . . . . . . . . . . . . 1,318,122 10 7
Mortgages . . . . . . . . . . . . . . . . . . . . . 1,447,923 0 0
5,872,720 10 7
National Savings securities . . . . . . . . 455,800 0 0
Total of current assets and investments . . . . . . . . . . 7,039,623 1 7
Fixed assets at cost, less depreciation--
Buildings . . . . . . . . . . . . . . . . . . . . . 55,057 1 5
Plus additions . . . . . . . . . . . . . . . . . 11,265 0 0
66,322 1 5
Less depreciation . . . . . . . . . . . . . . 7,233 12 11
Furniture and fittings . . . . . . . . . . . . . . . 7,411 4 11
Plus additions . . . . . . . . . . . . . . . . . . 1,365 0 1
8,806 5 0
Less depreciation . . . . . . . . . . . . . . 622 16 11
Ledger posting machines . . . . . . . . . . . . . . . . . 5,429 19 6
Plus additions . . . . . . . . . . . . . . . . . . . 1,399 10 0
6,829 9 6
Less depreciation . . . . . . . . . . . . . . . 659 12 6
6,169 17 0