458

1966
£
Fixed assets (at cost less depreciation)
Land and buildings ..
Less previous depreciation
127,556
5,139
122,417
Less current depreciation
1,478
115,950
Office equipment, furniture, etc.
Less previous depreciation
104,529
15,719
88,810
Current depreciation
14,226
43,223
Goodwill on leases ..
300
£10,884,122
G. R. BURROWES, 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 1967. (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 1967 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.
12 May 1967.
578

SOUTH CANTERBURY SAVINGS BANK
PROFIT AND LOSS ACCOUNT FOR 12 MONTHS TO 31 MARCH 1967
Interest credited and accrued to depositors .. .. £ 60,535
Management expenses—
Salaries
Staff superannuation
Repairs and maintenance
Rent and rates ..
Depreciation
Administration expenses—
Printing and stationery
Advertising
Mortgage interest
General expenses
Provision for taxation
Net profit to appropriation account ..
£
£
13,028
331
438
1,535
15,332
1,747
2,194
1,122
5,047
10,110
3,100
3,627
£94,566

Interest on—
Fixed deposits
Government stock
Local body securities
Mortgages
Commissions, etc.
Rents
£
£
2,753
83,553
3,586
2,131
92,023
1,388
1,155
£94,566
PROFIT AND LOSS APPROPRIATION ACCOUNT FOR YEAR ENDED
31 MARCH 1967
Provision for grants
Balance to reserve fund
£
750
2,877
£3,627
Balance from profit and loss account
£
3,627
£3,627

THE NEW ZEALAND GAZETTE
No. 14

1967
£
£
120,939

BALANCE SHEET AS AT 31 MARCH 1967
Depositors’ balances—
Savings
Thrift
Investment accounts
Accrued interest
£
£
.. .. ..
.. .. ..
.. ..
.. ..
1,196,262
147,395
749,370
16,909
1,343,657
766,279
2,109,936
Other liabilities—
Bank of New Zealand overdraft
Sundry creditors
Mortgages freehold property
Less reduction
Provision for staff superannuation
Provision for mortgage reduction
Provision for grants
Provision for taxation
Less paid
Reserve fund—
Balance 31 March 1966
Premiums due on redemption Government stock
Balance of appropriation account 1967
£
£
..
..
..
..
..
..
..
..
..
..
..
..
13,474
1,301
23,750
2,000
632
2,000
750
2,989
627
21,750
1,785
11,775
2,877
16,437
£2,168,642
£
£

Current Assets—
Cash in hand and at bank .. ..
Fixed deposits
Owing by other banks
Interest accrued on investments
Sundry debtors
£
£
..
..
..
..
..
653
60,000
129
31,764
172
92,718

Investments—
New Zealand Government stock (face value) .. .. ..
Local body securities (at cost)
Mortgages
£
£
..
..
..
1,122,034
76,395
75,311
1,273,740

Investment account securities—
New Zealand Government stock (face value)
Cash—Bank of New Zealand
£
£
..
..
727,966
38,314
766,280

Fixed assets (at cost less depreciation)—
Freehold land and buildings—
Balance at 31 March 1966
Plus additions
Less depreciation
Alterations to leasehold premises—
Balance at 31 March 1966
Plus additions
Less depreciation
Office equipment and furniture—
Balance at 31 March 1966
Plus additions
Less depreciation
£
£
..
..
..
..
..
..
..
..
..
..
..
..
27,711
1,454
390
29,165
1,239
15
251
28,775
1,254
6,127
1,220
1,221
6,126
£2,168,642

J. M. BISHOP, President.
D. R. PARKER, General Manager.
We, the undersigned, being the auditors of the 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
the information and explanations we have required. (2) We have
verified the cash, investments, securities, and assets of the bank
as at 31 March 1967, and note that the amount of cash available
as required by section 24 (3) of the Trustee Savings Banks Act
1948, was not held at balance date owing to an over investment
in Government stock. The position was rectified on the first business
day after balance date. (3) The 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 (except as noted in 2 above). In our opinion, the
above balance sheet and profit and loss account are properly
drawn up so as to present fairly the financial position of the
South Canterbury Savings Bank as at 31 March 1967, 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.
HUBBARD, CHURCHER, GABITES, AND CO., Auditors.
Timaru, 19 May 1967.
581