19 JANUARY THE NEW ZEALAND GAZETTE 67

Provision for donations .. .. 10,000
Owing to other trustee savings banks 2,292
Mortgages .. .. 68,000
Bank overdraft .. .. 58,373
Sundry creditors .. .. 5,617
————
158,439

Reserve fund—
Balance as at 31 March 1965 36,620
Premiums due on redemption of Government stock 65,986
Add balance of appropriation account 23,717
————
126,323
————
£10,884,122
————

Current assets—
Cash in hand and at bankers 216,189
Fixed deposits at bankers 200,000
Short term investments 100,000
Interest accrued on investments 115,940
Rents due and accrued 12
Commissions accrued 300
Prepayment 55
Owing by other trustee savings banks 1,941
Sundry debtors 3,521
————
637,958

Investments (at face value)—
New Zealand Government stock 7,014,450
Local authority stock 337,641
Mortgages 2,734,900
Total investments ————
10,086,991
————
Total of current assets and investments .. .. 10,724,949

Fixed assets (at cost less depreciation)—
Land and buildings 121,089
Less previous depreciation 3,772
————
117,317
Less current depreciation 1,367
————
115,950
Office equipment, furniture, etc. 59,677
Less previous depreciation 8,518
————
51,159
Less current depreciation 7,936
————
43,223
————
£10,884,122
————

E. S. F. HOLLAND, 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 1966. (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 profit and loss present fairly the financial position of the Canterbury 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 the basis consistent with that of the preceding year.

PICKLES, PERKINS, AND HADLEE, Auditors.

2362

——————————————————————————————————————————————————————

SOUTH CANTERBURY SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1966

Interest credited and accrued to depositors .. .. £ s. d. £ s. d.
39,366 19 11
Management expenses—
Salaries and wages .. .. 9,604 11 4
Repairs and maintenance .. .. 273 0 5
Rent and rates .. .. 1,818 4 0
————
11,695 15 9
Depreciation .. .. 2,155 8 6
Administration expenses—
Printing and stationery .. .. 1,761 8 9
Advertising .. .. 1,698 11 8
Mortgage interest .. .. 1,157 7 4
General expenses .. .. 3,541 14 0
————
8,159 1 9
Provision for taxation .. .. 516 17 2
Net profit .. .. 1,345 9 3
————
£63,239 12 4
————

Interest on—
Fixed deposits .. .. 1,151 7 1
Government stock .. .. 56,959 9 4
Local body securities .. .. 2,007 7 0
————
60,118 3 5
Commissions, etc. .. .. 2,138 6 7
Rents .. .. 983 2 4
————
£63,239 12 4
————

BALANCE SHEET AS AT 31 MARCH 1966

Depositors’ balances—
Savings .. .. 954,259 1 5
Thrift .. .. 101,011 0 7
————
1,055,270 2 0
Investment accounts .. .. 514,680 0 0
Accrued interest.. .. .. 10,337 15 5
————
525,017 15 5
————
1,580,287 17 5

Other liabilities—
Bank of New Zealand overdraft.. .. .. 12,557 7 3
Sundry creditors .. .. 815 16 10
Mortgages freehold property .. .. 23,750 0 0
Provision for taxation .. .. 516 17 2
Less paid .. .. 126 0 0
————
390 17 2

Reserve fund—
Balance at 31 March 1965 439 5 0
Premiums due on redemption Government stock.. 7,800 0 0
Balance of Appropriation Account 31 March 1966 1,345 9 3
————
9,584 14 3
————
£1,627,386 12 11
————

Current assets—
Cash in hand and at bank.. £ s. d. £ s. d.
12,440 11 2
Fixed deposits 35,300 0 0
Interest accrued on investments 27,359 9 1
Owing by other trustee savings banks 4,368 11 8
Sundry debtors 38 6 8
————
79,506 18 7

Investments—
New Zealand Government stock (at face value) 928,320 0 0
Local body securities (at cost) 59,464 18 5
————
987,784 18 5

Investment account securities—
New Zealand Government stock (at face value) 514,680 0 0
Cash at Bank of New Zealand 10,337 15 5
————
525,017 15 5

Fixed assets (at cost)—
Freehold land and buildings 28,090 4 4
Less depreciation 379 16 0
————
27,710 8 4

Alterations to leasehold premises
Balance at 31 March 1965 (Timaru) 279 0 0
Additions (branches) 1,521 0 9
————
1,800 0 9
Less written off on vacating 279 0 0
————
1,521 0 9
Less depreciation 281 12 7
————
1,239 8 2

Office equipment and furniture—
Balance at 31 March 1965 3,973 10 1
Plus additions 3,371 3 10
————
7,344 13 11
Less depreciation 1,217 9 11
————
6,127 4 0
————
£1,627,386 12 11
————

N. S. BROWN, President.
D. R. PARKER, Manager.

We, the undersigned, being the auditors of South 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 of the information and explanations we have required. (2) We have verified the cash, investments, securities, and assets of the