17 SEPTEMBER
THE NEW ZEALAND GAZETTE
1701

WELLINGTON DISTRICT SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1970

1969 1970
$ $

Interest to depositors—
183,006 Paid and credited .. 262,954
95,807 Accrued on investment accounts 67,129
——— ———
278,813 330,083

Administration expenses—
17,708 Advertising .. 12,692
2,033 Auditors’ fees and expenses .. 1,825
440 Amortised cost of leases .. 475
6,232 Depreciation.. .. 10,055
2,425 Machine leasing .. 18,949
13,841 Printing and stationery .. 21,721
35,405 Rent .. 35,852
121,891 Salaries .. 174,105
45,886 Other administration expenses .. 55,896
——— ———
245,861 331,570

.. Net profit for year transferred to
8,791 reserve fund .. ..
——— ———
$533,465 $661,653

1969 1970
$ $

Investment Income—
Interest received, due, and accrued—
334,534 New Zealand Government stock .. 375,129
15,691 Local authorities stock .. 21,621
160,188 Mortgages .. 217,821
6,518 Fixed deposits .. 11,466
734 Short-term deposits .. 1,816
——— ———
517,665 627,853

Commissions received and accrued—
2,257 Government stock .. 1,713
931 Local authority stock .. 881
——— ———
3,188 2,594

12,612 Sundry Income .. 14,686
.. Net cost of operations for year
transferred to Establishment Account .. .. 16,520
——— ———
$533,465 $661,653

WELLINGTON DISTRICT SAVINGS BANK

BALANCE SHEET AS AT 31 MARCH 1970

1969 1970
$ $

Current liabilities—
8,210 Sundry creditors .. 11,797
3,824 Owing to other trustees savings banks .. 15,623
54,742 Provision for accrued investment account interest .. 67,129
——— ———
66,776 Total current liabilities .. 94,549

Long-term liabilities—
236,253 Bank overdraft .. 274,641
Depositors’ balances
(Note 3)—
8,152,908 Savings accounts .. 9,341,230
2,405,620 Investment accounts .. 2,758,550
——— ———
10,558,528 Total depositor’s balances .. 12,099,780

Reserve fund—
8,791 Net profit for year, 31 March 1969 .. 8,791
4,519 Amortised New Zealand Government stock discounts and premiums .. 6,055
——— ———
13,310 Total reserve fund .. 14,846
——— ———
$10,874,867 $12,483,816

The references in these accounts are to the numbered notes on the following page, which form an integral part of, and are to be read in conjunction with these accounts.

J. P. PROCTOR, President.
J. W. BROWN, General Manager.

1969 1970
$ $

Current assets—
308,816 Cash resources .. 494,035
10,231 Sundry debtors .. 20,289
33,075 Owing by other trustee savings banks .. 16,381
1,634 Payments in advance .. 1,670
94,972 Accrued income .. 107,908
——— ———
448,728 Total current assets .. 640,283

Investments (at cost)—
321,965 New Zealand Government stock .. 7,362,507
3,217,886 Local authorities stock .. 413,692
160,000 Mortgages .. 3,618,889
Fixed deposits .. 280,000
——— ———
10,275,879 Total investments .. 11,675,088

Fixed assets (Note 1)—
25,818 Furniture and fittings, safes, office machines.. 20,699
11,906 Improvements to leasehold premises .. 14,054
3,370 Motor vehicles .. 8,481
——— ———
41,094 Total fixed assets .. 43,234

Intangible assets (cost)—
2,272 Cost of leases .. 1,797
106,894 Establishment Account (Note 2) .. 123,414
——— ———
109,166 Total intangible assets .. 125,211
——— ———
$10,874,867 $12,483,816

AUDITORS’ REPORT

We report that we have audited the books and accounts of the Wellington District Savings Bank for the year ended 31 March 1970 and have received all the information and explanations we have required.

In our opinion, the accompanying balance sheet and statement of profit and loss present fairly the financial position of the bank at 31 March 1970, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year.

WATKINS, HULL, WHEELER, and JOHNSTON,
Chartered Accountants.

Wellington, New Zealand, 16 June 1970.
9406

CANTERBURY SAVINGS BANK

BALANCE SHEET AS AT 31 MARCH 1970

1969 1970
$ $

Depositors’ balances—
21,939,092 Savings bank 26,726,267
1,862,772 Thrift clubs 1,876,938
——— ———
23,801,864 Ordinary depositors’ total 28,603,205

Investment accounts 12,719,367
Add Interest accrued 308,978
——— ———
11,541,152 13,028,345
——— ———
35,620,748 41,631,550

Other liabilities—
96,057 Staff provident fund .. 133,784
12,000 Provision for donations .. 14,000
14,759 Owing to other trustee banks .. 7,717
121,600 Mortgages .. 129,700
56,350 Sundry creditors .. 76,112