New Zealand Gazette – 1968 – No. 17

Page 531

✨ Financial Statements



28 MARCH

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, 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 31 March 1967 and of the results of its 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, Auditors.
Wellington, 17 May 1967.

NATIONAL BANK OF NEW ZEALAND SAVINGS BANK LTD.

PROFIT AND LOSS ACCOUNT FOR 13 MONTHS ENDED 31 OCTOBER 1967

6 Months to 13 Months to
5 Oct. 1966 31 Oct. 1967
$(N.Z.)
Interest to depositors 389,586 1,100,265
Management and operating expenses 76,146 215,312
Directors' fees ... ...
Total expenses 465,732 1,315,577
Provision for taxation 70,618 166,714
Net profit for period 72,872 169,002
$(N.Z.) $609,222 $1,651,293
6 Months to 13 Months to
5 Oct. 1966 31 Oct. 1967
$(N.Z.)
Income from investments 405,742 1,141,635
New Zealand Government stock and local authority securities 500,891
Other investments 199,452 ...
605,194
Other income 4,028 8,767
$(N.Z.) $609,222 $1,651,293

PROFIT AND LOSS APPROPRIATION ACCOUNT

$(N.Z.) $(N.Z.) $(N.Z.)
Transfer to New Zealand Government stock revaluation reserve-In respect of previous periods ... 47,882
In respect of this period ... 57,083
Less : Tax adjustment ... 104,965
Balance carried forward ... 52,483
Transfer to general reserve-Provision for dividend(Note 2) ... 50,000
Balance carried forward 101,064 107,598
$(N.Z.) $270,080 $270,080
$(N.Z.) $(N.Z.)
Balance brought forward 28,192
Net profit for period 72,872
Transfer from New Zealand Government stock revaluation reserve on account stock matured during period ...
Less : Tax adjustment ...
$(N.Z.) $101,064

531

THE NEW ZEALAND GAZETTE

BALANCE SHEET AS AT 31 OCTOBER 1967

5 Oct. 1966 $(N.Z.) 31 Oct. 1967 $(N.Z.)
Shareholders' funds-Authorised and issued capital - 1,000,000 ordinary shares of $2 each $2,000,000 .. 2,000,000
Paid up capital-1,000,000 ordinary shares of $2 each paid up to 40c each 400,000 400,000
General reserve 40,000 90,000
Profit and loss appropriation account 101,064 107,598
541,064 597,598
New Zealand Government stock revaluation reserve (including taxation payable thereon) .. 104,937
Current liabilities and provisions-Depositors' balances-Ordinary accounts 15,770,432 20,541,338
Thrift accounts 54,760 116,085
Home lay-by accounts 541,792 758,327
Investment accounts 10,152,280 14,934,498
26,519,264 36,350,248
Provision for taxationLess : Provisional tax paid 150,522 272,256
.. 31,778
Provision for dividend(Note 2) .. 240,478
Other liabilities including interest accrued 296,600 60,000
.. 457,825
758,303
$(N.Z.) $27,507,450 $(N.Z.) $37,811,086
5 Oct. 1966 $(N.Z.) 31 Oct. 1967 $(N.Z.)
Deposits at the National Bank of New Zealand Ltd. 1,773,630 .. 2,312,551
Investments (Note 1)-New Zealand Government stock 3% special 10,600,000 14,090,000
Other (marketable) 9,123,448 13,252,979
Advance subscriptions 680,000 1,500,000
Local authority securities 120,700 293,700
20,524,148 29,136,679
Mortgages and other loans (less Provision for bad and doubtful debts) 4,974,898 6,005,789
Income accrued on investments 234,774 356,067
$27,507,450 $37,811,086

NOTES-(1) The redemption value of the New Zealand Government stock and local authority securities appearing in the balance sheet is $30,156,480 and the market value $29,033,770.

The book values of securities purchased at a discount or a premium are adjusted through New Zealand Government stock revaluation reserve at balance dates so as to attain their redemption values by maturity dates.

(2) Owing to the change in balance date, the dividend relates to the period of 19 months since 31 March 1966, and is the equivalent of an annual rate of 9.5 percent.

On behalf of the Board-

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



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✨ LLM interpretation of page content

💰 Auditors' Report on Company Financials

💰 Finance & Revenue
17 May 1967
Auditors report, Company accounts, Balance sheet, Profit and loss, Financial statements, Wellington
  • ERNEST HUNT, TURNER AND CO. Public Accountants, Auditors.

💰 National Bank of New Zealand Savings Bank Ltd. Financial Statements

💰 Finance & Revenue
31 October 1967
Financial statements, Profit and loss account, Balance sheet, Investments, Depositors, Reserves, Dividends
  • John Mowbray (Director), Signed for the Board
  • E. A. Carr (Secretary), Signed for the Board

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