19 JANUARY

THE NEW ZEALAND GAZETTE

65

MANAWATU-WAIRARAPA SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1966

Interest—
Credited to depositors .. .. .. 61,222
Accrued .. .. .. 28,187 89,409

Advertising .. .. .. 3,332
Printing and stationery .. .. .. 4,201
Salaries .. .. .. 18,460
Property expenses—
Mortgage interest and repairs .. .. 2,377
Rent .. .. .. 3,937
Other administration expenses .. .. 7,157 39,464
Depreciation .. .. .. 3,163
Profit before taxation – carried down .. .. 10,099
£142,135

Taxation 1966—
Provisional tax payment .. .. .. 786
Balance due .. .. .. 3,682 4,468
Net profit transferred to Appropriation Account .. 5,631
£10,099

Interest on investments—
Received .. .. .. 92,224
Accrued .. .. .. 44,623 136,847
Brokerage and commissions .. .. .. 4,004
Rentals .. .. .. 1,234
Mortgage inspection fees .. .. .. 50
£142,135

Profit before taxation .. .. .. 10,099
£10,099

BALANCE SHEET AS AT 31 MARCH 1966

Depositors balances—
Savings bank .. .. .. 2,074,471
Thrift clubs .. .. .. 185,233 2,259,704
Investment accounts .. .. 1,380,805
Add accrued interest .. .. 28,187 1,408,992
3,668,696

Other liabilities—
Provision for taxation .. .. 3,682
Bank overdraft .. .. 15,451
Mortgages .. .. 29,500
Owing to other trustee banks .. .. 3,332
Sundry creditors .. .. 3,064
Provision for donations .. .. 1,750 56,779

Reserve fund—
Balance 31 March 1965 .. .. 2,001
Add balance Appropriation Account 3,881 5,882
£3,731,357

Capital commitments—
Office machines – furniture and fittings .. 2,212
Mortgages .. .. 169,979

Current assets—
Cash in hand and at bank .. .. 194,253
Fixed deposits .. .. 50,000 244,253
Interest accrued on investments .. .. 44,623
Owing by other trustee banks .. .. 4,472
Sundry debtors .. .. 356 49,451

Investments at cost
N.Z. Government stock .. .. 2,976,952
Local authority securities .. .. 103,690
Mortgages .. .. 314,106 3,394,748

Fixed assets
Land and buildings at cost .. .. 29,836
Accumulated depreciation .. .. 190 29,646
Office machines, furniture, etc. at cost 10,414
Accumulated depreciation .. .. 2,640 7,774
Leasehold improvements at cost .. .. 4,053
Accumulated depreciation .. .. 1,258 2,795

Motor vehicles at cost .. .. 3,490
Accumulated depreciation .. .. 800 2,690
£3,731,357

J. E. GREENSLADE, President.
G. N. McDERMOTT, General Manager.

The above balance sheet and attached profit and loss account are in agreement with the books which, in my opinion, have been properly kept. We obtained the information and explanations we required.

In my opinion the above balance sheet and profit and loss account comply with the Trustee Savings Banks Act 1948, in the manner authorised for Trustee Savings Banks. On such basis, they give, in my opinion, a true and fair view of the state of affairs and of the profit of the bank.

D. T. SPRING, Public Accountant, Auditor.
Palmerston North, 11 May 1966.

2364

WELLINGTON DISTRICT SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1966

Interest—
Paid and credited to depositors .. .. 29,125
Accrued on investment accounts .. .. 7,891 37,016

Administration expenses—
Advertising .. .. .. 4,817
Auditor’s fees and expenses .. .. 657
Depreciation .. .. .. 1,308
Printing and stationery .. .. 4,525
Rent .. .. .. 6,615
Salaries .. .. .. 21,809
Trustees’ fees .. .. .. —
Other administration expenses .. .. 5,667 45,398
Cost of leases .. .. .. 273 273
£82,687

Investment income—
Interest received and accrued—
Government stock .. .. .. 56,797
Local authorities stock .. .. 631
Mortgages .. .. .. 1,673
Fixed deposits .. .. .. 581
Short-term deposits .. .. 195 59,877

Commissions received and accrued—
Government stock .. .. .. 2,375
Local authorities stock .. .. 94 2,469

Sundry income .. .. .. 854 854

Net cost of operations for year transferred to Establishment Account .. .. .. 19,487
£82,687

BALANCE SHEET AS AT 31 MARCH 1966

Current liabilities—
Sundry creditors .. .. .. 1,735
Owing to other trustee savings banks 1,543
Provision for Accrued Investment Account interest .. .. 7,891
Total current liabilities .. .. 11,169

Long-term liabilities—
Bank overdraft .. .. .. 57,123
Total long-term liabilities .. .. 57,123

Depositors’ balances—
Savings banks .. .. .. 1,235,390
Thrift clubs .. .. .. 111,557
Ordinary depositors’ total .. .. 1,346,947
Investment accounts .. .. 420,450
Total depositors’ balances .. .. 1,767,397

Reserve fund—
Discounts receivable on maturity of Government stock .. .. 551
Total reserve fund .. .. 551
£1,836,240

Contingent liabilities—
Mortgages authorised .. .. 87,690