PAYMENTS
£ s. d.
Withdrawals … 2,182,217 17 10
Advances made … 289,945 0 0
New Zealand Government inscribed stock and local-body debentures purchased … 190,000 0 0
Management, administration charges including salaries, audit fee, and trustees fees … 21,008 7 11
Bank rates and insurance premiums … 668 2 8
Advertising, printing, and stationery … 1,885 10 4
Income taxation and Social Security charge … 13,262 7 3
Donations … 605 0 0
Insurance premiums and rates advanced to borrowers … 104 15 7
Expenses, inspecting and maintaining securities Share earthquake insurance premiums paid to mortgagors … 7 5 5
Withdrawals and transfers of national savings deposits and interest paid to depositors … 275,380 14 0
Furniture and office plant purchased … 431 4 3
Bank property purchased … 9,331 8 5
Trustee savings bank transfers … 13,228 16 2
National savings investments Bank legal fees …
Cash and bank balances … 405,251 13 1
£3,403,525 15 5
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1957
Dr.
£ s. d.
Interest credited to depositors’ accounts … 113,655 10 7
Interest credited to Staff Provident Fund … 595 4 0
Charges and administration expenses, including expenses inspecting securities, less inspection fees received … 23,779 17 1
Depreciation … 4,290 8 4
Net provision for taxation after allowing for credit carried forward from 1956 … 9,500 0 0
Net profit transferred to Profit and Loss Appropriation Account … 11,740 1 8
£163,561 1 8
Cr.
£ s. d.
Interest accrued and received from investments … 158,348 2 7
Commission, rents, sundry receipts, and refunds … 5,212 19 1
£163,561 1 8
APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1957
Dr.
£ s. d.
Ten per cent additional depreciation on book-keeping machines, 31 March 1956 … 451 7 6
Donations … 605 0 0
Balance transferred to Reserve Fund … 10,683 14 2
£11,740 1 8
Cr.
£ s. d.
Net profit … 11,740 1 8
£11,740 1 8
DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1957
Dr.
£ s. d. £ s. d.
Interest credited to depositors’ accounts … 113,655 10 7 114,250 14 7
Interest credited to Staff Provident Fund … 595 4 0 16,092 8 7
Salaries and audit fee Trustees fees Printing, advertising, and stationery … 1,885 10 4
Trustees travelling and inspection fees, less inspection fees received … 154 5 0
Rates and fire insurance premiums on. bank premises … 668 2 8
Share of earthquake premiums of properties mortgaged to the bank … 7 5 5
Legal costs Charges— Staff Provident Fund contributions … 738 4 9
Rent branch premises … 523 15 0
Cleaning … 526 5 0
Lighting and heating … 214 11 3
General office expenses … 1,861 8 3
Expenses maintaining and repairing bank premises … 264 5 10
Depreciation bank premises and furniture, including loss on discarded assets … 4,290 8 4
Provision for taxation … 9,500 0 0
Net profit transferred to Profit and Loss Appropriation Account … 11,740 1 8
£163,561 1 8
Cr.
£ s. d.
Interest accrued and received from— Mortgages … 81,903 13 11
Investments … 76,444 8 8
Commissions, rents, sundry receipts, and refunds … 5,212 19 1
£163,561 1 8
BALANCE SHEET AS AT 31 MARCH 1957
Depositors’ balances— Savings bank department … 4,329,952 9 10
Ordinary depositors’ total National savings de- positors’ total … 953,042 0 8
Add National Savings Interest Suspense Account … 17,863 17 7
Other liabilities— Staff Provident Fund … 13,327 14 0
Storm Damage Reinstatement Fund … 48 10 0
Provision for taxation … 10,493 11 7
Sundry creditors … 1,003 0 0
Amounts owing to other trustee savings banks … 15 0 0
Total, other liabilities … 24,887 15 7
Total of liabilities and provisions … 5,325,746 3 8
Reserve Fund— Balance, 1 April 1956 … 194,893 17 6
Add balance, Appropriation Account … 10,683 14 2
Current assets— Cash in hand and at bankers on current account … 398,795 14 10
Fixed deposit accounts at bankers … 150,000 0 0
Interest due and accrued on investments … 27,761 4 4
Total, current assets … 576,556 19 2
Investments— New Zealand Government inscribed stock and war loans at par value … 2,015,535 0 0
Local-body debentures … 149,155 3 1
First mortgage on freehold property … 1,766,738 5 7
Total investments … 3,931,428 8 8
National savings securities— New Zealand Government inscribed stock … 964,450 0 0
Cash in hand and at bank … 6,455 18 3
Total securing national savings depositors … 970,905 18 3
Total current assets, investments, and securities … 5,478,891 6 1
Fixed assets at cost, less depreciation— Premises and property … 44,075 6 5
Office plant, fittings, furniture, and home safes … 8,357 2 10
Total fixed assets … 52,432 9 3
H. E. BLENNERHASSETT, President.
E. A. EVANS, General Manager.
W. A. WIXKSON, Accountant.
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 1957; (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 1957.