1406
THE NEW ZEALAND GAZETTE
No. 46

BANK OF NEW ZEALAND SAVINGS BANK LTD.

PROFIT AND LOSS ACCOUNT FOR SIX MONTHS ENDED 31 MARCH 1965
£
Interest to depositors .. .. .. .. 88,229
Management and operating expenses (including preliminary expenses £1,225. Directors’ fees — nil) .. 43,187
Total expenses .. .. .. .. 131,416
Net Profit for period transferred to Profit and Loss Appropriation Account .. .. .. 3,272
£134,688

Income from investments—
£
New Zealand Government stock, and local authority securities .. .. .. .. 124,850
Other investments .. .. .. .. 2,413
127,263
Other income .. .. .. .. 7,425
£134,688

BALANCE SHEET AS AT 31 MARCH 1965
Liabilities
Shareholders’ funds:
Authorised and issued capital—
£
1,000,000 ordinary shares of £1 each 1,000,000
Paid-up capital—per share 5s. .. 250,000
Profit and Loss Appropriation Account 3,272
£
253,272
Current Liabilities:
Depositors’ balances including interest credited:
Ordinary accounts .. .. 5,684,084
Thrift accounts .. .. 25,156
Home lay-by accounts .. .. 71,651
Investment accounts .. .. 2,727,208
8,508,099
Other liabilities including interest accrued .. .. .. 47,213
£8,808,584
Contingent liability:
Subsidy—Home lay-by accounts .. 598

Assets
£
Deposits at Bank of New Zealand: .. .. 551,672
Investments:
New Zealand Government stock—
£
3¾ per cent special .. .. 3,880,000
Other .. .. 4,130,087
Local authority securities .. .. 105,000
8,115,087
Mortgages and other loans .. .. 64,000
Income accrued on investments .. 77,825
8,256,912
The redemption value of the New Zealand Government stock and local authority securities appearing in the balance sheet is £8,217,065 and the market value £8,078,661.
The book values of securities purchased at a discount or at a premium are adjusted annually so as to attain their redemption values by maturity date.
£8,808,584

On behalf of the Board:
G. D. STEWART, Director.
J. HALLIGAN, Director.
B. B. WATSON, Secretary.

We have obtained all the information and explanations that we have required. In our opinion proper books of account have been kept by the company so far as appears from our examination of those books. In our opinion, according to the best of our information and the explanations given to us and as shown by the said books, the balance sheet and the profit and loss account are properly drawn up so as to give respectively a true and fair view of the state of the company’s affairs as at 31 March 1965 and of the results of its business for the period ended on that date.
According to such information and explanations, the accounts, the balance sheet, and the profit and loss account give the information required by the Companies Act 1955 in the manner so required.
ERNEST HUNT TURNER AND CO.,
Public Accountants, Auditors.
Wellington, 18 May 1965.
5945

NATIONAL BANK OF NEW ZEALAND
SAVINGS BANK LTD.

PROFIT AND LOSS ACCOUNT FOR SIX MONTHS ENDED 31 MARCH 1965
£
Interest to depositors .. .. .. 55,359
Management and operating expenses.. .. .. 21,437
Total expenses .. .. .. 76,796
Provision for taxation .. .. .. 2,122
Net profit for period .. .. .. 3,201
£82,119

Income from investments—
New Zealand Government stock and local authority securities .. .. .. £ 73,646
Other investments .. .. .. 6,586
80,232
Other income .. .. .. .. 1,887
£82,119

BALANCE SHEET AS AT 31 MARCH 1965
Liabilities
Shareholders funds:
£
Authorised and issued capital—
1,000,000 ordinary shares of £1 each .. 1,000,000
Paid-up capital—
£
1,000,000 ordinary shares of £1 each paid to 4s. .. .. 200,000
Profit and Loss Appropriation Account 3,201
203,201
Current liabilities and provisions:
Depositors’ balances—
Ordinary accounts (including special purpose and cheque accounts) .. 3,373,985
Investment accounts .. .. 1,466,870
Thrift accounts .. .. 4,125
Home lay-by accounts .. .. 59,506
4,904,486
Interest accrued on depositors’ balances .. .. 54,140
Provision for taxation .. .. 2,122
Provision for dividend .. .. 200
Other liabilities .. .. .. 2,322
£5,164,149
Contingent liability:
Subsidy – Home lay-by accounts .. 397

Assets
£
Deposits at the National Bank of New Zealand Ltd. 353,450
Investments:
New Zealand Government stock—
£
3¾ per cent special .. .. 2,280,000
Other .. .. 1,829,916
Local authority securities .. .. 5,000
Mortgages and other loans less provision for bad and doubtful debts .. 662,931
Interest accrued on investments .. 30,050
4,807,897
Preliminary expenses.. .. .. 2,802
(N.B. The book values of securities purchased at a discount or at a premium are adjusted annually so as to attain their redemption value by maturity date.)
£5,164,149

On behalf of the Board:
JOHN MOWBRAY, Director.
E. A. CARR, Secretary.

We have obtained all the information and explanations that we have required. In our opinion proper books of accounts have been kept by the Bank and proper returns adequate for the purposes of our audit have been received from branches none of which has been visited by us. In our opinion, according to the best of our information and the explanations given to us and as shown by the said books, the balance sheet and the profit and loss account are properly drawn up so as to give respectively a true and fair view of the state of the company’s affairs as at 31 March 1965 and of the result of its business for the six months ended on that date.
According to such information and explanations the accounts, the balance sheet, and the profit and loss account give the information required by the Companies Act 1955, in the manner so required.
ROWLEY GILL DAVIES AND CO.,
Public Accountants, Auditors.
Wellington, 18 May 1965.
5946