New Zealand Gazette – 1969 – No. 53

Page 1703

✨ Financial Statements



4 SEPTEMBER
THE NEW ZEALAND GAZETTE
1703

1968 1969
$ $ $
Fixed assets (Note 1)—
22,649 Furniture and fittings, safes, office machines 25,818
9,521 Improvements to leasehold premises 11,906
2,911 Motor vehicles .. 3,370
35,081 Total fixed assets 41,094
Intangible assets (cost)—
2,212 Cost of leases .. 2,272
106,894 Establishment account (Note 2) 106,894
109,106 Total intangible assets 109,166
$8,836,408 $10,874,867

NOTES TO THE ACCOUNTS

Note 1. Fixed assets and depreciation—

Cost as at 31 March 1968 Depreciation to 31 March 1968 Book Value as at 31 March 1968
$ $ $
Furniture and fittings, safes, office machines 28,592 5,943 22,649
Improvements to leasehold premises 12,904 3,383 9,521
Motor vehicles 4,020 1,109 2,911
$45,516 $10,435 $35,081
Additions for Year Disposals for Year Depreciation for Year Balance as at 31 March 1969
$ $ $ $
Furniture and fittings, safes, office machines 6,613 .. 3,444 25,818
Improvements to leasehold premises 4,330 .. 1,945 11,906
Motor vehicles 2,524 1,222 843 3,370
$13,467 $1,222 $6,232 $41,094

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 2. Establishment account—The total establishment expenses have been approved by the Inland Revenue Department as deductible from future assessable income.

Note 3. Depositors' balances—Savings bank—$720,000 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 $20,000 only.

FELIX WOOD, President.
J. W. BROWN, General Manager.

AUDITORS' REPORT

WE report that we have audited the books and accounts of the Wellington District Savings Bank for the year ended 31 March 1969 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 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.

WATKINS, HULL, WHEELER, AND JOHNSTON,
Public Accountants, Auditors.

Wellington, New Zealand, 20 May 1969.
696
G

WESTLAND SAVINGS BANK

BALANCE SHEET FOR YEAR ENDED 31 MARCH 1969

1968 1969
$ $ $
Depositors balances—
Savings .. .. 2,825,538
Thrift .. .. 81,748
School and others .. .. 11,562
Investments .. .. 1,217,070
3,393,579 4,135,918
Cash in transit other banks 27,826
22,128 Interest accrued .. .. 30,546
10,618 Provision for taxation .. 10,618
2,400 Provision for donation .. 4,750
1,885 Sundry creditors .. .. 3,488
219,580 Reserve fund .. .. 243,789
$3,650,190 $4,456,935
1968 1969
$ $
92,449 Cash in hand and in transit 139,879
174,100 Fixed deposits .. .. 211,100
25,352 Interest accrued .. .. 32,499
2,031,498 Government stock at cost 2,531,499
41,542 Local body securities at nominal value 68,552
1,149,239 Mortgages .. .. 1,327,789
Land and buildings at cost 132,642
Additions 11,700
144,342
Less Depreciation 8,048
126,026 136,294
Furniture and fittings 9,984
Additions 1,740
11,724
Sales 80
11,644
Depreciation 2,329
9,984 9,315
Sundry debtors .. .. 8
$3,650,190 $4,456,935

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1969

1968 1969
$ $ $
Interest to—
Depositors 77,440
100,860 Investments 48,341 125,781
1,439 Trustees fees .. .. 1,472
Management expenses—
Salaries and wages .. 25,191
Maintenance and repairs 1,355
23,613 Rent and rates 1,056 27,602
3,929 Depreciation .. .. 3,761
16,335 Administration costs .. 19,430
10,618 Provision for taxation .. ..
12,908 Net profit .. .. 29,210
$169,702 $207,256
1968 1969
$ $ $
Interest on—
Deposits .. .. 11,060
Government stock .. 117,350
Local body debentures 2,729
162,402 Mortgages .. .. 69,099 200,238
2,014 Commission .. .. 1,663
5,286 Rent .. .. .. 5,355
$169,702 $207,256


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✨ LLM interpretation of page content

💰 Wellington District Savings Bank - Balance Sheet and Notes for Year Ended 31 March 1969

💰 Finance & Revenue
Savings bank, Balance sheet, Fixed assets, Intangible assets, Depreciation, Establishment account, Depositors balances, Trustee savings banks
  • Felix Wood, President
  • J. W. Brown, General Manager
  • WATKINS, HULL, WHEELER, AND JOHNSTON, Public Accountants, Auditors

💰 Westland Savings Bank - Balance Sheet and Profit and Loss Account for Year Ended 31 March 1969

💰 Finance & Revenue
Savings bank, Balance sheet, Profit and loss account, Depositors balances, Investments, Mortgages, Land and buildings, Furniture and fittings, Depreciation, Interest to depositors, Management expenses