1622
THE NEW ZEALAND GAZETTE
No. 58

Notes on the Accounts

1. The market value of Government and local authority securities at 30 September 1966, was £17,809,995.
2. There is an accruing contingent liability for subsidies on home lay-by accounts.

On behalf of the Board:

W. H. SIMON
C. G. HANKIN
J. DE V. HUNT, Secretary.

} Directors.

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, and to the best of our information and the explanations given to us, and as shown by the said books, the 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 company’s affairs as at 30 September 1966, and of the results of the 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

WATKINS, HULL, WHEELER, & JOHNSTON,
Public Accountants

} Joint Auditors.

Wellington, New Zealand, 19 October 1966.

2006

NATIONAL BANK OF NEW ZEALAND SAVINGS BANK LTD.

PROFIT AND LOSS ACCOUNT FOR 27 WEEKS ENDED 5 OCTOBER 1966

                  27 weeks      12 months
                  to 5          to 31
                  October       March
                  1966          1966
                  £(N.Z.)       £(N.Z.)

Interest to depositors .. .. .. 194,793 247,929
Management and operating expenses .. 38,073 61,117
Directors’ Fees .. .. .. .. ..

Total expenses .. .. .. 232,866 309,046
Provision for taxation .. .. .. 35,309 42,095
Net profit for period .. .. .. 36,436 43,176

                  £304,611     £394,317

                  27 weeks      12 months
                  to 5          to 31
                  October       March
                  1966          1966
                  £(N.Z.)       £(N.Z.)

Income from Investments—
New Zealand Government stock and local
authority securities .. .. .. 202,871 261,366
Other investments .. .. .. 99,726 129,994

                  302,597     391,360

Other income .. .. .. 2,014 2,957

                  £304,611     £394,317

PROFIT AND LOSS APPROPRIATION ACCOUNT

                  £             £

Preliminary expenses written off .. .. .. 2,802
Transfer to general reserve .. .. .. 20,000
Provision for dividend .. .. .. 10,000
Balance carried forward .. .. .. 50,532 14,096

                  £50,532     £46,898

                  £             £

Balance brought forward .. .. .. 14,096 3,201
Net Profit for period .. .. .. 36,436 43,176
Over-provision for tax 1965 .. .. .. .. 521

                  £50,532     £46,898

BALANCE SHEET AS AT 5 OCTOBER 1966

                  5 October   31 March
                  1966        1966
                  £(N.Z.)     £(N.Z.)

Shareholders’ funds—
Authorised and issued capital—
1,000,000 ordinary shares of £1 each .. £1,000,000 £1,000,000

Paid Up Capital—
1,000,000 ordinary shares of £1 each, paid up to 4s. each .. 200,000 200,000
General Reserve .. .. .. 20,000 20,000
Profit and loss Appropriation account .. 50,532 14,096

                  270,532

Current liabilities and provisions—
Depositors’ balances—
Ordinary accounts .. 7,885,216 6,565,683
Thrift accounts .. 27,380 24,398
Home lay-by accounts .. 270,896 214,289
Investment accounts .. 5,076,140 3,668,201

                  13,259,632

Provision for taxation .. 79,005
Less provisional tax paid .. 3,744

                  75,261     38,350

Provision for dividend .. .. .. .. 10,000
Other liabilities, including interest accrued .. 148,300 180,800

                  223,561

                  £13,753,725  £10,935,817

Contingent liability—
Subsidy—
Home lay-by accounts .. .. .. 3,200

Deposits at the National Bank of New Zealand Ltd. .. .. 886,815 753,701

Investments—
New Zealand Government stock
3¾ percent special .. 5,300,000 4,395,000
Other (marketable) .. 4,561,724 3,407,061
Advance subscriptions .. 340,000 ..
Local authority securities .. 60,350 44,750

                  £10,262,074

Mortgages and other loans .. .. 2,487,449 2,244,776
(less provision for bad and doubtful debts)
Income accrued on investments .. 117,387 90,529

                  12,866,910

                  £13,753,725  £10,935,817

NOTE—The Market value of the New Zealand Government stock and local authority securities appearing in the balance sheet is £10,235,599.

The Book values of securities purchased at a discount or at a premium are adjusted at balance dates so as to attain their redemption value by maturity date.

On behalf of the Board:

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

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 National Bank of New Zealand Savings Bank Ltd., and proper returns adequate for the purposes of our audit have been received from branches, none of which has been visited by us. 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 5 October 1966, and of the result of its business for the 27 weeks’ period 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.

ROWLEY, GILL, DAVIES, AND CO.,
Public Accountants.

Wellington, 4 November 1966.

2007

NEW ZEALAND GOVERNMENT PUBLICATIONS
GOVERNMENT BOOKSHOP

A selective range of Government publications is available from the following Government Bookshops:

Wellington: Mulgrave Street
Private Bag
Auckland: State Advances Bldg., Rutland Street
P.O. Box 5344
Hamilton: Alma Street
P.O. Box 857

Telephone 46 807
Telephone 22 919
Telephone 80 103