2460
THE NEW ZEALAND GAZETTE
No. 84

1967
$
4,340,236 Cost price
4,372,600 Nominal value
4,135,142 Market value

The balance sheet valuation is as follows:

4,340,236 Cost price
1,102 Amortisation to 31 March 1967
1,086 Amortised discounts receivable for
the year ended 31 March 1968

4,342,424
686 Less amortised premiums paid for the
year ended 31 March 1968

$4,341,738

1968
$
5,880,235
5,912,600
5,733,735

5,880,235
1,502
2,184

5,883,921
686

$5,883,235

Note 3. Fixed assets and depreciation—

Furniture, Improvements
Fittings, to
Safes, Leasehold Motor
Office Premises Vehicles Total
Machines $ $ $
$ $ $ $
Cost as at 31 March 1967 .. 17,885 12,174 3,808 33,867
Depreciation to 31 March 1967 .. 3,191 2,022 762 5,975
Book value as at 31 March 1967 .. 14,694 10,152 3,046 27,892
Additions for year .. 10,707 730 2,112 13,549
Disposals for year .. .. .. 1,380 1,380
Depreciation for year .. 2,752 1,361 867 4,980
Balance as at 31 March 1968 .. 22,649 9,521 2,911 35,081

Depreciation has been charged, at rates approved by the Inland Revenue Department, on some assets, while the remainder have been depreciated on a straight-line basis over the estimated useful life of the assets.

Note 4. Cost of Leases—These charges are the cost of purchasing leases for branch premises. Purchases are recorded at cost and amortised to profit and loss account over the term of the various leases on a straight-line basis.

1967
$
4,400 Cost of leases
546 Less amortisation to 31 March 1967

3,854 Book value as at 31 March 1967
1,000 Less disposal for the year ended 31
March 1968

2,854
236 Less amortisation for the year ended
31 March 1968

$2,618

1968
$
3,400
782

2,618
..

2,618
406

$2,212

Note 5. Establishment account—Of last year’s establishment account expense of $49,656, $52,627 has been approved by the Inland Revenue Department for taxation purposes, and is available to be carried forward and deducted from assessable income derived during the six following years. When added to the assessments to 31 March 1966, $108,005 is available to be carried forward and deducted from future assessable profits, subject to the six-year provision.

Note 6. Bank overdraft—The bank’s administration expenses and capital expenditure are financed from this source.

Note. 7. Depositors’ balances—Savings bank—$780,000 has been accepted from other trustee savings banks, in accordance with regulation 9 subclause (2) of the Trustee Savings Banks Regulations 1949. Interest has been paid at 3 percent per annum on $24,000 only. The net effect is that the transfer to establishment account has been reduced by $39,053, from $40,815 to $1,762.

FELIX WOOD, President.
J. W. BROWN, General Manager.
R. G. CLARKE, B.COMM., A.R.A.N.Z., A.N.Z.I.M., Accountant.

AUDITORS’ REPORT

We report that we have audited the books and accounts of the Wellington District Savings Bank for the year ended 31 March 1968, and have received all the information and explanations we have required.

In our opinion, the accompanying balance sheet and statements of profit and loss present fairly the financial position of the bank at 31 March 1968, 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.

WATKINS, HULL, WHEELER, AND JOHNSTON, Auditors.
Wellington, New Zealand, 20 May 1967.

3155

RANGIORA COUNTY COUNCIL

NOTICE OF RESULT OF POLL

PURSUANT to section 38 of the Local Authorities Loans Act 1956, notice is hereby given that a poll of the ratepayers of the Woodend sewerage rating area, taken on the 14th day of December 1968, on the proposal of the above-named local authority to raise a loan of $74,000, to be known as the Woodend Sewerage Loan 1968, for the purpose of constructing sewerage reticulation and disposal facilities for the Woodend Township, resulted as follows:

The number of votes recorded for the proposal was 74
The number of votes recorded against the proposal was 28
The number of informal votes was 1
I therefore declare that the proposal was carried.
Dated this 16th day of December 1968.

C. L. MORRISS, Chairman.

3146

IN THE MATTER of the Charitable Trusts Act 1957 and IN THE MATTER of the New Zealand Dairy Research Institute:
TAKE NOTICE that on the 29th day of November 1968 in the Supreme Court of New Zealand at Palmerston North His Honour Mr Justice Tompkins made an order approving the scheme hereinafter appearing, pursuant to section 35 of the Charitable Trusts Act 1957.

Scheme

The powers of the New Zealand Dairy Research Institute are hereby extended by adding to paragraph 3 of the constitution and rules of the said Institute the following sub-clause (X):

“(X) Power to lend and advance money to any staff member of the Institute for the purpose of purchasing or building a dwellinghouse required by him or her for the occupation of himself or herself and members of his or her family during the continuance of his or her service with the Institute upon such terms as the Institute shall think fit and to guarantee and give guarantees for the payment of moneys advanced by way of mortgage or otherwise howsoever by any person company or institution to such member for such purpose.

Dated at Palmerston North this 4th day of December 1968.

K. SEEBECK,
Registrar of the Supreme Court.

3125

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