28 MARCH
THE NEW ZEALAND GAZETTE
529

THE COMMERCIAL BANK SAVINGS BANK (N.Z.) LTD.

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 30 JUNE 1967

1966
£(N.Z.)
140,743 Interest to depositors .. .. .. 216,770
45,600 Management and operating expenses .. 64,600
11,811 Provision for taxation .. .. .. 15,081
11,290 Net profit for the year .. .. .. 15,090

£209,444

1966
£(N.Z.)
180,609 Income from—
New Zealand Government stock and local
authority securities .. .. .. 251,552
28,260 Other investments .. .. .. 59,748
575 Other sources .. .. .. 241

£209,444

PROFIT AND LOSS APPROPRIATION ACCOUNT

£
15,524 Balance carried forward .. .. .. 30,614

£15,524

£
4,234 Balance brought forward from previous year 15,524
11,290 Net profit for the year as above .. .. 15,090

£15,524

BALANCE SHEET AS AT 30 JUNE 1967

Deposits Guaranteed by the Commercial Bank of Australia Ltd.

1966
£(N.Z.)
£250,000 Authorised capital—
250,000 ordinary shares of
£1 each .. .. .. .. .. £250,000

£
250,000 Issued and fully paid up
capital—
250,000 ordinary shares of
£1 each .. .. .. .. .. 250,000
15,524 Revenue reserves—
Profit and loss account .. 30,614 280,614

265,524

Current liabilities and pro-
visions—
Depositors’ balances—
3,343,681 Ordinary accounts .. 4,305,680
11,504 Thrift accounts .. 20,781
181,524 Home lay-by accounts 170,677
1,898,290 Investment accounts .. 2,986,000

5,434,999
7,483,138

Other Liabilities including
accrued interest and home
lay-by subsidies .. 100,275
7,426 Provision for taxation .. 23,758

5,502,969
7,607,171

£5,768,493
£7,887,785

1966
£(N.Z.)
418,163 Deposits with the Commer-
cial Bank of Australia
Ltd. .. .. .. .. .. 691,659

Investments—
New Zealand Govern-
ment stock, at cost—
2,295,000 3¾ percent special .. 2,850,000
2,380,581 Other .. .. .. .. 3,455,176
55,293 Local authority securities,
at cost .. .. .. 89,522

4,730,874 Nominal value, } see note 6,394,698
Market value,
£6,319,020

Mortgages and other loans,
less provision for bad and
doubtful debts .. 741,810
33,074 Interest accrued .. 59,618

5,350,330
7,196,126

£5,768,493
£7,887,785

NOTE—The New Zealand Government and local authority
securities are all redeemable at par at fixed dates, and it is the
opinion of the Directors that, in the ordinary course of business,
the Bank’s investment in these securities will realise not less than
the amounts at which they are included in the accounts.

On behalf of the Board:

J. CHESTER GUEST, Director.

AUDITORS’ REPORT

To the Members of the Commercial Bank Savings Bank (N.Z.) Ltd.

In our opinion the accompanying balance sheet and profit and
loss account give a true and fair view of the state of affairs of the
Commercial Bank Savings Bank (N.Z.) Ltd. at 30 June 1967,
and of its results for the year ended on that date.

We have obtained all the information and explanations we have
required. In our opinion, the company has kept proper books,
and the balance sheet and profit and loss account give, in the
prescribed manner, the information required by the Companies
Act 1955.

D. A. F. CROMBIE
G. L. ALLARD
} Public Accountants.

Wellington, New Zealand,
20 July 1967.

687

BANK OF NEW SOUTH WALES SAVINGS BANK (NEW ZEALAND) LTD.

STATEMENT OF PROFIT AND UNAPPROPRIATED PROFITS FOR YEAR ENDED 30 SEPTEMBER 1967

1966
$
836,234 Income—
Income from investments New Zea-
land Government stock and local
and semi-government authority
securities .. .. .. 1,194,060
151,904 Mortgages and other loans .. 219,773
43,020 Other .. .. .. 52,489

1,031,158 Total revenue .. .. .. 1,466,322

Expenses—
688,422 Interest to depositors .. .. 1,035,444
173,438 Management and operating expenses 251,180
1,100 Auditors’ remuneration .. .. 1,200

862,960 Total expenses .. .. .. 1,287,824

168,198 Net profit before taxation .. .. 178,498

Provision for taxation—
14,480 Payments on account .. .. 83,401
68,960 Balance due .. .. 4,769

83,440
88,170

84,758 Net profit .. .. .. .. 90,328

Unappropriated profits—
14,775 Balance at beginning of year .. 99,599
66 Profit on sale of securities .. ..

$99,599 Balance at end of year .. .. $189,927

BALANCE SHEET, 30 SEPTEMBER 1967

Liabilities and shareholders’ funds

1966
$
$2,000,000 Shareholders’ funds—
Authorised capital 1,000,000 ordin-
ary shares of $2 each .. .. $2,000,000

$
400,000 Issued and paid up capital 1,000,000
ordinary shares of $2 each paid up
to 40 cents .. .. .. .. 400,000
99,599 Unappropriated profits .. .. 189,927

499,599 Total shareholders’ funds .. .. 589,927

Current liabilities and provisions—
Depositors’ balances—
15,130,292 Ordinary accounts .. .. 18,889,690
54,998 Thrift accounts .. .. 56,013
294,730 Home lay-by accounts .. 258,999
11,227,436 Investment accounts .. 15,154,001
.. Inoperative accounts .. .. 184

26,707,456
34,358,887
68,960 Provision for taxation .. .. 4,769
433,960 Other liabilities including interest
accrued on depositors’ balances.. 635,773

27,210,376 Total current liabilities and
provisions .. .. .. 34,999,429

$27,709,975 Contingent liability (Note 1) .. $35,589,356