1434

THE NEW ZEALAND GAZETTE

No. 55

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1972
Interest to depositors—
On open accounts .. .. .. .. .. 863,613
Closed accounts and matured investment accounts .. 69,841
Accrued on investment accounts .. .. .. .. .. 203,229
Home layby accounts: suspensory free deposits .. .. ..

Sub-total .. .. .. .. .. .. .. 1,136,683
Administrative expenses .. .. .. .. .. .. .. 536,028
Trustees’ honoraria .. .. .. .. .. .. .. 4,752
Depreciation .. .. .. .. .. .. .. 54,143
Provision for taxation .. .. .. .. .. .. .. 199,508
Net profit—carried down .. .. .. .. .. .. .. 249,923

$2,181,037

Interest on investments—
From New Zealand Government stock .. .. 1,139,712
From local authorities stock .. .. .. .. 349,452
From mortgages .. .. .. .. .. .. .. 481,060
From other sources .. .. .. .. .. .. .. 150,140

Sub-total .. .. .. .. .. .. .. 2,120,364
Income from other sources .. .. .. .. .. .. .. 60,673

$2,181,037

APPROPRIATION ACCOUNT
Provision for donations .. .. .. .. .. 45,000
Transfer to reserve .. .. .. .. .. .. 204,923

$249,923

Net profit—brought down .. .. .. .. .. .. 249,923

$249,923

P. C. FRAMPTON, President.
L. R. D. PAYNE, General Manager.

AUDITORS’ CERTIFICATE
We, the undersigned, being the Auditors of the Southland Savings Bank, appointed in terms of section 29 (3) of the Trustees Savings Banks Act 1948, report—

1. That we have examined the books, accounts, and vouchers of the bank and have received all the information and explanations we have required.

2. We have verified the cash, investments, securities, and assets of the bank as at 31 March 1972.

3. The General Manager has certified that to the best of his knowledge and belief, all requirements of the Trustees Savings Banks Act 1948, and regulations thereunder, have been complied with.

In our opinion, the above balance sheet and profit and loss account are properly drawn up so as to give respectively a true and fair view of the state of the Southland Savings Bank’s affairs as at 31 March 1972, and of the results of its business for the year ended on that date, in conformity with generally accepted accounting principles and applied on a basis consistent with that of the preceding year.

HENDERSON, ADAM, AND CO., Auditors.

Invercargill, 15 May 1972.

1846

OTAGO SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1972
Interest to depositors—
On open accounts .. .. .. .. .. .. 754,930
Closed accounts and matured investment accounts .. 174,875
Accrued on investment accounts .. .. .. .. .. 335,238
Home layby accounts—suspensory free deposits .. .. .. 171

954,214

Administrative expenses .. .. .. .. .. .. 632,218
Trustees’ honoraria .. .. .. .. .. .. .. 3,224
Depreciation—
Buildings .. .. .. .. .. .. .. 45,898
Vehicles, equipment, furniture, etc. .. .. .. 22,214

68,112

Provision for taxation .. .. .. .. .. .. .. 165,298
Net profit—carried down .. .. .. .. .. .. .. 203,748

$2,337,814

Interest on investments—
From New Zealand Government stock .. .. 1,159,337
From local authorities stock and debentures .. 94,809
From mortgages .. .. .. .. .. .. .. 895,187
From other sources .. .. .. .. .. .. .. 75,818
Income from other sources .. .. .. .. .. .. .. 112,663

$2,337,814

PROFIT AND LOSS APPROPRIATION ACCOUNT
Provision for donations .. .. .. .. .. .. 50,000
Transfer to reserve .. .. .. .. .. .. .. 153,748

$203,748

Net profit—brought down .. .. .. .. .. .. 203,748

$203,748

BALANCE SHEET AS AT 31 MARCH 1972
Depositors’ accounts—
Ordinary accounts .. .. .. .. .. .. 27,104,554
Thrift club accounts .. .. .. .. .. .. 809,450
Special purpose accounts .. .. .. .. .. 2,785,626
Home layby accounts .. .. .. .. .. .. 104,739

30,804,369

Investment accounts .. .. .. .. .. .. 9,974,507

Total liability to depositors .. .. .. .. 40,778,876
National savings accounts .. .. .. .. .. 436,930
Add interest suspense account .. .. .. .. 7,538

444,468

Other liabilities—
Interest accrued on investment accounts .. .. .. 335,238
Owing to other trustee savings banks .. .. .. .. 11,240
Staff provident fund .. .. .. .. .. .. 393,772

740,250

Provision for donations .. .. .. .. .. .. 50,000
Provision for taxation .. .. .. .. .. .. .. 349,994
Reserve fund .. .. .. .. .. .. .. .. 2,039,540

$44,403,128

Current assets—
Cash on hand and at bank .. .. .. .. .. 718,529
Fixed deposits .. .. .. .. .. .. .. 1,315,000
Interest accrued on investments .. .. .. .. 465,083
Owing by other trustee savings banks .. .. .. 20,186
Sundry debtors .. .. .. .. .. .. .. 2,607

Total current assets .. .. .. .. .. .. 2,521,405

Investments—
New Zealand Government stock at face value (See note (i) below) .. 22,528,510
Local authority securities .. .. .. .. .. 1,773,759
Mortgages .. .. .. .. .. .. .. 15,646,998
Shares in Allied Computer Processors Ltd., at cost .. .. .. .. .. 16,000

Total ordinary investments .. .. .. .. .. 39,965,267

National savings securities—
New Zealand Government stock at cost .. .. .. 436,930
Cash on hand and at bank .. .. .. .. .. 7,538

Total National Savings Securities .. .. .. .. 444,468

Fixed assets—
Cost Depre- Book
Price ciation Value
$ $ $
Land and buildings .. 1,786,384 394,725 1,391,659
Vehicles, equipment,
furniture, etc. .. 360,368 280,039 80,329

Total fixed assets .. .. .. .. .. .. 1,471,988

$44,403,128