1762

THE NEW ZEALAND GAZETTE

No. 58

Current liabilities—
Bank overdraft .. .. .. 14,134 9 11
Sundry creditors .. .. .. 2,489 6 3
Owing to other trustee banks .. 3,917 7 5
Accrued expenses .. .. .. 382 0 2
Provision for accrued investment interest .. 2,429 4 6
Total current liabilities .. .. 23,352 8 3
£608,316 0 11

Investments (at cost)—
Government Stock (nominal value) .. .. .. 535,000 0 0
Mortgages .. .. .. 10,610 0 0
Fixed Deposits .. .. .. 10,000 0 0
Total investments .. .. 555,610 0 0

Current assets—
Cash in hand and at bank .. 26,284 0 2
Owing by other trustee banks 5,169 16 1
Prepayments .. .. .. 206 0 0
Accrued income .. .. .. 8,739 6 9
Total current assets .. .. 40,399 3 0

Fixed assets (at cost)—
Furniture and fittings .. .. 1,123 14 11
Less depreciation .. .. 66 19 11
1,056 15 0

Improvements to leasehold premises .. .. 2,013 11 9
Less depreciation .. .. 125 3 7
1,888 8 2

Office machines, typewriters.. 643 5 0
Less depreciation .. .. 32 19 0
610 6 0

Total fixed assets .. .. 3,555 9 2
Cost of lease .. .. .. 500 0 0
Establishment account .. .. 8,251 8 9
£608,316 0 11

F. WOOD, President.
J. W. BROWN, Manager.

We report that we have audited the books and accounts of the Wellington District Savings Bank for the period ended 31 March 1965. In our opinion the accompanying balance sheet and statements of income and surplus present fairly the financial position of the bank at 31 March 1965, and the results of its operations for the period then ended, in conformity with generally accepted accounting principles consistently applied.

WATKINS, HULL, WHEELER, AND JOHNSTON, Auditors.
Wellington, New Zealand, 18 May 1965.

6356

BALANCE SHEET AS AT 31 MARCH 1965

Depositors’ Balances—
Savings bank .. .. .. 4,578,823 3 2
Thrift clubs .. .. .. 461,343 17 2

Ordinary depositors’ total .. .. 5,040,167 0 4
Investment accounts .. 2,521,437 19 3
Add interest accrued.. 51,204 17 1
2,572,642 16 4
7,612,809 16 8

Other Liabilities—
Staff provident fund .. .. 4,157 1 6

Provision for taxation .. 29,441 18 6
Less paid .. .. 10,977 10 0
18,464 8 6

Provision for donations .. 5,000 0 0
Owing to other trustee savings banks .. 2,156 16 5
Mortgages .. .. .. 69,900 0 0
Bank overdraft .. .. 57,117 0 8
Sundry creditors .. .. 7,962 10 2
164,757 17 3

Reserve Fund—
Balance as at 31 March 1964 .. .. 11,503 12 11
Premiums due on redemption of Government stock .. 44,843 2 6
Add balance of Appropriation Account .. 25,116 10 1
81,463 5 6
£7,859,030 19 5

Current Assets—
Cash in hand and at bankers .. .. 198,486 13 10
Fixed deposits at bankers .. .. 200,000 0 0
Interest accrued on investments .. 65,976 14 8
Rents due and accrued .. .. 26 0 0
Commissions accrued .. .. 552 10 0
Prepayment .. .. .. 40 0 0
Short term investments .. .. 180,000 0 0
Owing by other trustee savings banks .. 15,693 14 2

Investments (at face value)—
New Zealand Government stock .. 5,000,000 0 0
Local body stock .. .. 280,500 0 0
Mortgages .. .. .. 1,786,985 0 0

Fixed Assets (at cost less depreciation)—
Land and buildings .. .. 109,983 14 2
Less previous depreciation .. 2,325 3 0
107,658 11 2
Less current depreciation 1,447 6 3
106,211 4 11

Office equipment, etc. .. 33,112 13 0
Less previous depreciation .. 3,831 6 2
29,281 6 10
Less current depreciation 4,722 5 0
24,559 1 10
130,770 6 9
£7,859,030 19 5

M. J. RUSSELL, President.
FRANK DICKSON, General Manager.

We, the undersigned, being the auditors of the Canterbury 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 1965. (3) The General 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 accompanying balance sheet and statements of income and surplus present fairly the financial position of the Canterbury Savings Bank at 31 March 1965 and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on the basis consistent with that of the preceding year.

PICKLES, PERKINS, AND HADLEE, Auditors.
Christchurch, 30 April 1965.

6357

CANTERBURY SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1965

Interest to Depositors—
Credited to depositors’ at 31 March 1965 .. 101,817 5 7
Closed accounts and matured investment accounts .. .. 34,184 17 7
Accrued on investment accounts .. .. 51,204 17 1
Trustees fees .. .. .. 1,280 5 0
Salaries and wages .. .. 27,300 5 10
Maintenance and repairs .. .. 1,634 0 0
Rent and rates .. .. .. 2,848 0 0
Advertising .. .. .. 5,729 17 5
Printing and stationery .. .. 5,828 8 11
Interest to staff provident fund .. .. 118 4 8
Administration expenses and other charges .. 16,342 10 7
Depreciation .. .. .. 6,169 11 3
Provision for taxation .. .. 29,441 18 6
Net profit .. .. .. 30,116 10 1
£314,016 12 6

Interest on Investments—
Fixed deposits at bankers .. .. 5,493 1 6
New Zealand Government stock .. 203,614 18 0
Local body stock .. .. 7,618 3 9
Mortgages .. .. .. 74,691 7 10
Rents received .. .. .. 4,516 6 4
Interest on short term investments .. 8,939 7 8
Commissions, fees, etc. .. .. 9,143 7 5
£314,016 12 6