3 OCTOBER
THE NEW ZEALAND GAZETTE
1739

APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1968

1967 1968
$ $
1,000 Provision for donations .. .. .. 1,623
3,820 Balance to reserve fund .. .. .. 1,623

$4,820 $1,623

1967 1968
$ $
.. Balance brought forward .. .. .. 1,000
4,820 Balance from profit and loss account .. 623

$4,820 $1,623

BALANCE SHEET FOR YEAR ENDED 31 MARCH 1968

1967 1968
$ $
3,834,780 Depositors’ balance—
617,322 Savings bank .. .. 4,143,237
Thrift club .. .. 548,085

4,452,102 4,691,322
3,327,192 Investment account .. 3,540,032
79,284 Add accrued interest .. 84,253

3,406,476 3,624,285

7,858,578 8,315,607

12,212 Other liabilities—
59,000 Bank overdraft .. 21,143
1,666 Mortgages .. .. .. 59,000
Owing to other trustee
banks .. .. .. 3,285
14,746 Sundry creditors .. .. 9,440
Superannuation reserve
fund .. .. .. 1,035
1,000 Provision for donations .. .. 93,903

88,624

11,764 Reserve fund—
3,820 Balance: 31 March 1967 15,585
Add balance appropriation account .. 1,623

15,584 17,208

$7,962,786 $8,426,718

Contingent liability .. .. $275.00

1967 1968
$ $
533,730 Current assets—
120,000 Cash in hand and at bank 662,627
Fixed deposits .. .. 121,020

653,730 783,647
86,988 Interest accrued on investments .. 90,763
8,408 Owing by other trustee banks .. .. 8,012
Sundry debtors: $
Interest .. .. 2,960
Other .. .. 6,023

7,162 8,983
6,140 Taxation overpaid .. .. 2,814

108,698 110,572

5,845,004 Investments—
New Zealand Government stock (at cost) .. 6,230,004
Plus premium to date .. 3,401
206,528 Local authority securities (at cost) .. .. 206,531
1,051,442 Mortgages .. .. .. 983,540

7,102,974 7,423,476

59,672 Fixed assets—
Land and buildings (at cost) .. .. 70,596
560 Less depreciation to date .. .. 1,013

59,912 69,583
37,238 Office machines and furniture (at cost) .. 44,690
10,298 Less depreciation to date .. .. 15,237

                            29,453

BALANCE SHEET FOR YEAR ENDED 31 MARCH 1968—continued

1967 1968
$ $
26,940 Leasehold improvements .. 9,676
9,106 Less depreciation to date .. .. 3,569
3,834 ------
------ 6,107
5,272
7,138 Motor vehicles .. .. 4,858
1,078 Less depreciation to date .. .. 978

6,060 3,880

$7,962,786 $8,426,718

F. B. HOPWOOD, President.
J. W. MERRICK, Secretary.

AUDITORS’ REPORT

The above balance sheet and profit and loss account are in agreement with the books, which, in my opinion, have been properly kept. I obtained the information and explanations I required.

In my opinion the above balance sheet and profit and loss account comply with the Trustee Savings Bank Act 1948, in the manner authorised for trustee savings Banks. On such basis, they give, in my opinion, a true and fair view of the state of affairs and of the profit of the Bank.

D. T. SPRING,
Public Accountant, Auditor.

Palmerston North, 13 June 1968.

1799

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

BALANCE SHEET AS AT 30 JUNE 1968

Deposits guaranteed by the Commercial Bank of Australia Ltd.

1967 1968
$ $
500,000 Authorised capital—
250,000 ordinary shares of $2 each 500,000

500,000 Issued and fully paid-up capital—
250,000 ordinary shares of $2 each 500,000

       Revenue reserves—
       $                           $

61,227 General reserve .. .. 50,000
Profit and loss account .. 51,152

61,227 101,152

561,227 601,152

Current liabilities and provisions—

Depositors’ balances—
8,611,360 Ordinary accounts .. 10,056,676
41,563 Thrift accounts .. .. 68,277
341,354 Home lay-by accounts .. 359,804
5,972,000 Investment accounts .. 7,626,617

14,966,277 18,111,374

Other liabilities including accrued interest and home lay-by subsidies .. 236,968
Provision for taxation .. .. .. 90,829

                            18,439,171

                            $19,040,323

1967 1968
$ $
1,383,317 Deposits with the Commercial Bank of Australia Ltd. .. .. 1,241,632

Investments—
New Zealand Government stock, at cost—
$ $
5,700,000 3¾ percent special .. 7,325,000
6,910,352 Other .. .. .. 8,285,352
179,044 Local authority securities, at cost .. 274,030

12,789,396 15,884,382