1700

THE NEW ZEALAND GAZETTE

No. 53

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1969

1968
$

Revenue—

Interest from—

New Zealand Government stock .. .. 449,918

Local authority stock .. .. 22,994

Fixed deposits .. .. 21,628

Mortgages.. .. .. 110,150

517,150

Rent .. .. .. 9,672

Commission .. .. .. 22,487

Mortgage inspection fees .. .. 2,763

Depreciation recovered .. .. 130

525,597 Total revenue .. .. .. .. 639,742

Less: expense—

Interest on depositors’ accounts—

Closed accounts .. .. 95,164

Open accounts .. .. 190,574

Investment accounts (accrued) 104,354

334,276

Charges and administration .. 167,513

Depreciation.. .. .. 7,250

489,243 Total expense .. .. .. .. 564,855

36,354 Net profit, before taxation .. .. 74,887

Less—

Reserve for taxation .. .. .. 36,363

Amortisation of goodwill .. .. ..

18,665

Net profit, transferred to appropriation account .. .. .. .. $38,524

$17,689

APPROPRIATION ACCOUNT FOR YEAR ENDED 31 MARCH 1969

1968
$

Net profit for year, transferred from profit and loss account .. .. .. .. 38,524

Less—

Provision for donations .. .. $ 6,000

Reserve for taxation—additional provision re 1967 and 1968 .. .. 2,119

Balance transferred to general reserve 30,405

17,689

P. TAIT, President.

G. L. COOK, General Manager.

AUDITORS’ REPORT

We report that we have examined the balance sheet of the Hawke’s Bay and Gisborne Savings Bank as at 31 March 1969 and the related profit and loss account for the year then ended, and have received all the information and explanations we have required.

In our opinion, the accompanying balance sheet and profit and loss account present fairly the financial position of the bank at 31 March 1969, 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.

J. BARK,

Brown, Webb, and Co., Public Accountants.

Hastings, 13 May 1969.

5476

WANGANUI SAVINGS BANK

BALANCE SHEET AS AT 31 MARCH 1969

1968
$

Depositors’ balances—

Savings .. .. .. 4,516,572.12

Thrift .. .. .. 287,127.44

4,803,699.56

Investment .. .. 2,772,620.00

Add interest accrued (Note 2) 58,599.00

Total depositors’ funds .. .. 7,634,918.56

6,536,205

1968
$

2,606

671

2,100

..

..

5,377

63,125

21,411

5,444

26,855

13,751

40,606

$6,645,313

1968
$

172,896

200,000

75,269

2,823

2,344

5,613

2,762

461,707

5,169,340

199,649

703,957

6,072,946

99,978

27,884

127,862

17,202

110,660

$6,645,313

Current liabilities—

Sundry creditors and accrued charges .. 4,694.77

Owing to other trustee savings banks .. 5,076.05

Provision for donations .. .. 3,000.00

Provision for taxation 113.90

Provision for repairs and maintenance 1,000.00

Total current liabilities .. .. 13,884.72

Mortgages (secured) .. .. 75,430.91

Reserve fund—

Balance as at 31 March 1968 .. 26,854.78

Add balance of appropriation account .. 7,891.33

34,746.11

Premiums due on redemption of Government stock (Note 1) 11,484.86

46,230.97

$7,770,465.16

1969
$

Current assets—

Cash on hand and at bankers .. .. 227,445.73

Fixed deposits .. .. 220,000.00

Accrued interest on investments .. .. 83,433.36

Owing by other trustee savings banks .. 9,568.05

Sundry debtors .. .. 1,591.79

Taxation refund due .. ..

Stationery on hand .. .. 6,082.33

548,121.26

Investments (at face value)—

Government stock (Note 1) .. 5,540,000.00

Local body securities .. .. 263,684.06

Mortgages .. .. 1,284,546.94

7,088,231.00

Fixed assets (at cost)—

Land, buildings, and improvements .. 102,916.46

Furniture, fittings, and equipment .. 57,599.64

160,516.10

Less accumulated depreciation .. 26,403.20

134,112.90

$7,770,465.16

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1969

1968
$

206,515 Interest to depositors .. .. 234,402.32

1,970 Trustees’ fees .. .. 1,960.50

Management expenses—

Salaries .. .. .. 52,728.91

Repairs and maintenance .. .. 2,101.28

Depreciation .. .. 7,701.29

Rents and rates .. .. 8,494.85

Other expenses—

Advertising .. .. .. 5,255.12

Branch expenses .. .. 21,155.73

Stationery .. .. .. 6,140.64

Building expenses—Head Office .. 7,803.72

Others .. .. .. 15,906.17

Provision for taxation .. .. 4,697.00

Net profit .. .. .. 10,891.33

$331,011

$379,239.06