22 MARCH
THE NEW ZEALAND GAZETTE
439

The redemption value of the New Zealand Government stock and local authority securities appearing in the balance sheet is £18,373,347, and the market value £18,170,603.

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
£21,874,978

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1966

1965
(six months)
£
88,229 Interest to depositors .. ..
43,188 Management and operating expenses
(Directors’ fees—nil)

131,417 Total expenses

.. Provision for taxation .. ..
3,272 Net profit for year .. ..

£134,689

1965
(six months)
£
124,851 Income from investments—
New Zealand Government stock and
local authority securities ..
2,413 Other investments .. ..

127,264
7,425 Other income .. .. ..

£134,689

PROFIT AND LOSS APPROPRIATION ACCOUNT

1965
£
.. Transfer to general reserve .. ..
3,272 Balance at 31 March 1966 .. ..

£3,272

1965
£
.. Balance at 31 March 1965 .. ..
3,272 Net profit for year .. ..

£3,272

On behalf of the Board:

B. B. WATSON, Manager.
J. D. G. DUNCAN \ Directors.
J. HALLIGAN /

Auditors’ Report

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 1966, and of the results of its business for the year 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 1966.

175

NATIONAL BANK OF NEW ZEALAND SAVINGS BANK LTD.

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1966

1965
(six months)
£
55,359 Interest to depositors .. .. ..
21,437 Management and operating expenses ..
.. Directors’ fees .. .. ..

76,796 Total expenses

2,122 Provision for taxation .. .. ..
3,201 Net profit for period .. .. ..

£82,119

1966
£
486,681
131,583

618,264
47,500
45,336

£711,100

1966
£
601,453
102,000

703,453
7,647

£711,100

1966
£
30,000
18,608

£48,608

1966
£
3,272
45,336

£48,608

1965
(six months)
£
60,862 Income from investments—
New Zealand Government stock and
local authority securities .. ..
19,370 Other investments .. .. ..

80,232
1,887 Other income .. .. ..

£82,119

1966
£
261,366
129,994

391,360
2,957

£394,317

PROFIT AND LOSS APPROPRIATION ACCOUNT

1965
£
.. Preliminary expenses written off .. ..
.. Transfer to general reserve .. ..
.. Provision for dividend .. ..
£3,201 Balance carried forward .. ..

£46,898

.. Balance brought forward .. ..
£3,201 Net profit for period .. ..
.. Over-provision for tax 1965 .. ..

£46,898

BALANCE SHEET AS AT 31 MARCH 1966

1965
£
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 up to 4s. each
200,000 General—reserve ..
3,201 Profit and loss Appropriation account ..

200,000
20,000
14,096

234,096

Current liabilities and
provisions—
Depositors’ balances—
Ordinary accounts ..
Thrift accounts ..
Home lay-by accounts
Investment accounts

3,373,985
4,125
59,506
1,466,870

6,565,683
24,398
214,289
3,668,201

10,472,571

2,122 Provision for taxation ..
.. Less provisional tax paid

42,095
3,745

38,350

.. Provision for dividend ..
Other liabilities, including
interest accrued ..

10,000
180,800

229,150

£5,164,149
£10,935,817

Contingent liability—
Subsidy—Home lay-by accounts £2,265

1965
Deposits at the National
Bank of New Zealand
Ltd. .. ..

353,450

753,701

Investments—
New Zealand Government stock—
£
3¾ per cent special ..
Other (marketable) ..
Local authority securities ..
Mortgages and Other
Loans ..
(less provision for bad
and doubtful debts)
Income accrued on Investments .. ..

2,280,000
1,829,916
5,000
662,931
30,050
2,802

4,395,000
3,407,061
44,750
2,244,776
90,529

10,182,116

NOTE—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
£10,935,817

On behalf of the Board:

JOHN MOWBRAY, Director.
E. A. CARR, Secretary.

E