64 THE NEW ZEALAND GAZETTE No. 2

TARANAKI SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1966
£
Interest credited to depositors .. .. .. 300,194
Interest credited to staff provident fund .. .. .. 1,445
Charges and administration expenses .. .. .. 69,641
Depreciation .. .. .. 5,935
Provision for taxation .. .. .. 54,300
Net Profit transferred to Profit and Loss Appropriation Account .. .. .. 55,209
£486,724

£
Interest on investments .. .. .. 477,666
Commissions, rents, sundry receipts and refunds .. .. .. 9,058
£486,724

BALANCE SHEET AS AT 31 MARCH 1966
£ £
Depositors’ balances—
Savings bank department .. .. .. 7,933,032
Thrift club accounts .. .. .. 182,941
Investment accounts .. .. .. 2,111,885
Ordinary depositors’ total .. .. .. 10,227,858
National Savings depositors’ total .. .. .. 331,568
Add National Savings Interest Suspense Account .. .. .. 7,261
338,829
Other liabilities—
Interest accrued on investment accounts .. .. .. 47,348
Sundry creditors .. .. .. 231
Staff provident fund .. .. .. 32,496
Provision for taxation .. .. .. 54,300
Provision for donations .. .. .. 10,000
Total other liabilities .. .. .. 144,375
Reserve fund—
Balance 1 April .. .. .. 483,823
Add Balance appropriation account .. .. .. 55,373
539,196
£11,250,258

Current assets—
Cash in hand and at bankers .. .. .. 408,836
National Provident Fund investments .. .. .. 160,000
Fixed deposits .. .. .. 82,500
Interest due and accrued on investments .. .. .. 97,089
Total current assets .. .. .. 748,425
Investments (at par value)—
New Zealand Government inscribed stock .. .. .. 6,072,025
Local body debentures .. .. .. 83,718
First mortgage on freehold property .. .. .. 3,797,719
Total investments .. .. .. 9,953,462
Total current assets and investments .. .. .. 10,701,887
National Savings securities—
New Zealand Government inscribed stock .. .. .. 325,000
Cash in hand and at bank .. .. .. 13,829
338,829
Total current assets, investments, and securities .. .. .. 11,040,716
Fixed assets (at cost Less depreciation)—
Land and buildings .. .. .. 215,687
Less depreciation .. .. .. 25,511
190,176
Furniture and fittings, etc. .. .. .. 48,641
Less depreciation .. .. .. 29,275
19,366
£11,250,258

Contingent liability—
Subsidy on home lay-by accounts.
Capital commitment for new buildings, £25,000.

G. MACALLAN, President.
E. A. EVANS, General Manager.

We have examined the balance sheet of Taranaki Savings Bank as of 31 March 1966, and the related profit and loss account for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.

In our opinion, the accompanying balance sheet and profit and loss account present fairly the financial position of Taranaki Savings Bank at 31 March 1966 and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year.

WYNYARD, RIDLAND, AND GLASGOW,
Public Accountants, Auditors.

New Plymouth, 16 May 1966.
2368

WANGANUI SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1966
£ s. d.
Interest to depositors .. .. .. 63,171 7 0
Trustees fees .. .. .. 419 0 0
Management expenses—
Salaries .. .. .. 10,511 13 11
Maintenance and repairs .. .. .. 188 0 6
Rent and rates .. .. .. 2,249 3 9
Depreciation .. .. .. 2,075 15 11
Other expenses—
Advertising .. .. .. 2,669 12 0
Stationery .. .. .. 1,825 16 4
Others .. .. .. 6,945 6 7
£ s. d.
Provision for taxation .. .. .. 3,362 4 9
Already paid .. .. .. 1,714 0 0
5,076 4 9
Net profit .. .. .. 6,140 7 3
£101,332 8 0

£ s. d.
Interest on—
(a) Deposits .. .. .. 2,698 1 8
(b) Government stock .. .. .. 58,503 1 10
(c) Local body securities .. .. .. 1,902 19 8
(d) Mortgages .. .. .. 3,020 17 9
Commissions, fees, etc. .. .. .. 539 17 9
Rent .. .. .. 1,128 4 2
Other receipts—
Accrued income .. .. .. 31,642 5 2
Accrued brokerage .. .. .. 136 7 0
Brokerage .. .. .. 1,769 13 0
£101,332 8 0

BALANCE SHEET AS AT 31 MARCH 1966
£ s. d. £ s. d.
Depositors’ balances—
Savings .. .. .. 1,538,010 13 0
Thrift .. .. .. 93,269 16 9
Investment .. .. .. 886,370 0 0
2,517,650 9 9
Accrued interest .. .. .. 17,235 0 6
Provision for taxation .. .. .. 5,076 4 9
Less already paid .. .. .. 1,714 0 0
3,362 4 9
Other liabilities—
Sundry creditors .. .. .. 961 4 8
Mortgage .. .. .. 29,400 0 0
Provision for donations .. .. .. 1,750 0 0
Reserve fund .. .. .. 6,777 4 2
£2,577,136 3 10

£ s. d. £ s. d.
Cash in hand and at bank .. .. .. 90,311 3 2
Fixed deposits .. .. .. 69,000 0 0
Interest accrued .. .. .. 31,778 12 2
Government stock (at cost) .. .. .. 2,074,443 10 11
Local body securities (at cost) .. .. .. 68,522 9 6
Mortgage .. .. .. 200,398 10 1
Land and buildings at cost .. .. .. 36,505 17 6
Less depreciation .. .. .. 392 12 6
36,113 5 0
Fixtures, fittings, office equipment, alterations, leasehold improvements, at cost .. .. .. 10,034 5 10
Less depreciation .. .. .. 3,511 14 6
6,522 11 4
Sundry debtors .. .. .. 46 1 8
£2,577,136 3 10

E. A. MILLWARD, President.
G. I. C. McDOUALL, Manager.

We, the undersigned, being the auditors of the Wanganui Savings Bank, appointed in terms of section 29 (3) of the Trustee Savings Bank 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 1966. (3) The Manager has certified that, to the best of his knowledge and belief, all requirements of the Trustee Savings Bank Act 1948, and regulations thereunder, have been complied with. (4) We have confirmed with the banks concerned that the amounts shown as fixed deposits in the attached balance sheet are available at call. 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 Wanganui Savings Bank’s affairs as at 31 March 1966, and of the results of its business for the year ended on that date.

SILK, MASON AND CO., Public Accountants, Auditors.

2370