1150 THE NEW ZEALAND GAZETTE No. 50

BALANCE SHEET AS AT 31 MARCH 1961

Depositor’s balances—
Savings bank accounts £1,574,800 4 7
Thrift club accounts 103,500 8 6
Investment accounts, £173,350; accrued interest, £2,807 4s. 6d. .. 176,157 4 6
Total liability to depositors .. 1,854,457 17 7

Other liabilities—
Sundry creditors .. 2,018 11 11
Provision for taxation .. 5,910 0 7
Provision for donations .. 2,000 0 0
Total other liabilities.. .. 9,928 12 6
Total of liabilities and provisions .. 1,864,386 10 1

Capital reserve .. .. 340 0 0

Reserve fund—
Balance, 31 March 1960 1,067 13 6
Add balance, Appropriation Account .. 7,122 7 8
.. 8,190 1 2

Commitments in respect of mortgage advances, £298,150.

There is an additional liability for 1962 provisional tax of £5,910 0s. 7d.

£1,872,916 11 3

Current assets—
Cash in hand and at bankers .. 72,461 11 9
Fixed deposits, Australia and New Zealand Bank 85,000 0 0
New Zealand Government stock interest accrued 16,228 12 2
Local body stock interest accrued .. 2,054 0 7
Fixed deposit interest accrued .. 981 8 8
Mortgage interest accrued .. 168 2 11
Commissions accrued .. 315 0 0
Inspection fees accrued.. .. 234 3 0
Amounts owing by other trustee savings banks 3,555 11 3
Total current assets .. .. 180,998 10 4

Investments (cost or face value, whichever is lower)—
New Zealand Government inscribed stock 1,263,052 15 6
Local body stock and debentures .. 128,531 16 8
Mortgages .. .. 118,050 0 0
Total of investments .. 1,509,634 12 2

Total of current assets and investments .. 1,690,633 2 6

Investment Account securities—
New Zealand Government inscribed stock .. 176,157 4 6

Total of current assets, investments, and securities .. 1,866,790 7 0

Non current assets at cost, less depreciation to date—
Building alterations, £645 4s. 4d.; less depreciation to date, £87 2s. 5d. 558 1 11
Furniture and fittings, £3,322 19s. 10d.; less depreciation to date, £707 10s. .. 2,615 9 10
Calculating and book-keeping machines, £1,625 5s.; less depreciation to date, £357 4s. 6d. .. 1,230 0 6
Motor vehicle, £1,014; less depreciation to date, £101 8s. .. 912 12 0
Goodwill of lease, £900; less depreciation to date, £90 .. 810 0 0
.. 6,126 4 3

£1,872,916 11 3

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1961

Interest credited to depositors’ savings bank accounts—
Open accounts .. 31,532 12 7
Closed accounts .. 2,387 9 3
Investment accounts accrued .. 2,807 4 6
.. 36,727 6 4

Charges and administration expenses—
Insurance .. 63 19 8
Postages and telephone .. 290 19 4
Power .. 68 1 10
Stationery .. 819 16 9
Advertising .. 1,788 14 7
Maintenance .. 28 15 6
Cleaning .. 210 13 0
Rent .. 1,364 1 11
Salaries .. 5,301 7 6
Travelling expenses .. 464 12 4
Motor-vehicle expenses .. 84 3 1
General expenses .. 537 10 6
Bank charges .. 30 10 0
Bank interest .. 26 7 0
Legal expenses .. 71 8 10
Audit fee .. 500 0 0
Inspection fees .. 178 10 0
Trustees honorarium.. .. 555 12 0
.. 12,385 3 10

Depreciation .. .. 1,059 2 6

Net profit before provision for taxation .. 11,820 6 3

£61,991 18 11

Provision for taxation .. .. 5,910 0 7

Net profit for year .. .. 5,910 5 8

£11,820 6 3

Interest on—
New Zealand Government stock .. 52,943 3 4
New Zealand Short Term Investment Ltd. .. 630 8 1
Australia and New Zealand Bank Ltd. fixed deposit .. 1,852 17 6
Local body stock .. .. 3,855 4 0
Mortgages .. .. 355 14 3
Exchange and commissions .. 1,998 12 9
Inspection fees .. 355 19 0
.. £61,991 18 11

Net profit before provision for taxation .. 11,820 6 3

£11,820 6 3

APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1961

Provisions for donations .. 2,000 0 0
Balance to Reserve Fund .. 7,122 7 8

£9,122 7 8

Balance transferred from Profit and Loss Account 5,910 5 8
New Zealand Government stock discount .. 3,212 2 0

£9,122 7 8

R. A. BRAITHWAITE, President.
J. W. BROWN, Manager.

We, the undersigned, being the auditors of the Waikato Savings Bank, appointed in terms of section 29 (3) of the Trustee Savings Banks Act 1948, report that: (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 1961; (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 and profit and loss account are properly drawn up so as to give respectively a true and fair view of the state of the Waikato Savings Bank’s affairs as at 31 March 1961 and of the results of its business for the year ended on that date.

GILLING, FISHER, DAY, AND CO.,
Public Accountants and Auditors.
Hamilton.