1480 THE NEW ZEALAND GAZETTE No. 56

1970-71 Less—
$ Liabilities $
9,409,902 Depositors’ funds—
837,413 Savings accounts .. .. 10,621,764
4,230,623 Thrift accounts .. .. 939,719
789,479 Investment accounts—1 year 3,491,695
Investment accounts—2 year 1,395,492
15,267,417 16,448,670
122,136 Add: accrued interest on in-
vestment accounts .. .. 154,094
$15,389,553 Total liability to depositors .. .. $16,602,764

1970-71 Current liabilities—
$ $ $ $
6,000 Provision for donations .. .. 6,000
1,827 Commissioner of Inland
Revenue .. .. 8,188
20,988 Owing to other trustee banks 31,187
5,274 Accounts payable .. .. 8,209
34,089 53,584

         Term liabilities—

130,500 Mortgages .. .. 143,000
73,169 Reserve for deferred taxation 64,980
203,669 207,980
15,627,311 Total liabilities .. .. .. .. 16,864,328
$209,960 Excess of assets over liabilities .. .. $241,270

         Represented by—

$ $ $ $
168,622 General reserve as at 1 April 1971 .. .. 209,960
75 Balance donation reserve transferred to
general reserve .. .. 120
41,263 Net profit for year transferred to
general reserve .. .. 31,190
$209,960 $241,270

NOTE—
Stationery Stock: This has not previously been taken into the bank’s assets. During the year, due to increased costs and additional requirements because of new branches and methods and the general growth of the bank in all areas, the need to take annual inventory has accordingly become apparent.

REVENUE ACCOUNT FOR YEAR ENDED 31 MARCH 1972

1970-71 Revenue $ 1971-72 $
$ $ $ $
487,889 Interest—
33,734 New Zealand Government stock .. .. 471,733
48,102 Local authority stock .. .. 40,472
266,164 Fixed deposits .. .. 79,301
Mortgages .. .. 314,445
835,889 905,951
8,380 Rents .. .. .. .. 7,290
16,745 Commission .. .. .. 22,313
3,464 Mortgage inspection fees .. .. .. 3,573
864,478 Total revenue .. .. .. .. 939,127

         Less—
         Expenses

360,745 Interest on depositors’ funds—
122,136 Interest credited .. .. 357,023
Accrued interest on investment
accounts .. .. 154,094
482,881 511,117

         Administration—

270,496 Charges .. .. 338,977
11,223 Depreciation .. .. 18,635
764,600 357,612
3,193 Amortisation—Government and local
authority stock (net) .. .. .. 198
767,793 Total expenses .. .. .. 868,927
96,685 Gross profit—before taxation .. .. .. 70,200

         Less—

47,302 Reserve for taxation .. .. .. 28,920
2,120 Payroll tax .. .. .. 4,090
49,422 33,010
$47,263 Net profit for year, transferred to appropriation account $37,190

APPROPRIATION ACCOUNT FOR THE YEAR ENDED 31 MARCH 1972

1970-71 $ 1971-72 $
$ $ $ $
47,263 Net profit for year, transferred from revenue account .. .. 37,190
6,000 Less—
Provision for donations .. .. .. 6,000
$41,263 Balance transferred to general reserve .. .. .. $31,190

H. W. DOWLING, President.
E. ROBERTSON, 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 1972, and the related revenue 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 revenue account presents fairly the financial position of the bank at 31 March 1972, 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, except for stationery, as noted on the balance sheet.

J. R. BARK,
Brown, Webb and Co., Chartered Accountants.

Hastings, 28 April 1972.

1880

WELLINGTON DISTRICT SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1972

Interest to depositors—
$ $ $ $
On open accounts .. .. .. 234,908
Closed accounts and matured investment accounts .. .. 66,870
Accrued on investment accounts .. .. 111,384
Home layby accounts: suspensory free deposit .. ..
413,162

Administrative expenses .. .. .. 386,541
Trustees’ honoraria .. .. ..
Depreciation .. .. .. 11,822
Provision for taxation .. .. ..
Net profit—carried down .. .. .. 33,546
$845,071

Interest on investments—
$ $ $ $
From New Zealand Government stock .. .. 387,825
From local authorities stock .. .. 28,694
From mortgages .. .. 366,203
From other sources .. .. 31,930
814,652

Income from other sources .. .. .. 30,419
$845,071

APPROPRIATION ACCOUNT

$ $ $ $
Capital loss on sale of Government stock .. .. 361
Provision for donations .. .. ..
Transfer to reserve .. .. .. 33,185
$33,546

Net profit—brought down .. .. .. 33,546
$33,546

BALANCE SHEET AS AT 31 MARCH 1972

Depositors’ accounts—
$ $ $ $
Ordinary accounts .. .. .. 11,115,515
Special accounts .. .. ..
Sub-total .. .. .. 11,115,515
Investment accounts .. .. .. 3,297,400

Total liability to depositors .. .. .. 14,412,915
National savings accounts .. .. ..

Other liabilities—
Interest accrued on investment accounts 111,384
Mortgages .. .. .. 160,840
Owing to other trustee banks .. .. 29,265
Remittances in transit .. ..
Staff provident fund .. ..
Sundry creditors .. .. 20,506
Other: bank overdraft .. .. 186,824

Total other liabilities .. .. .. 508,819
Provision for donations .. .. ..
Provision for taxation .. .. ..
(Special appropriations of reserves) .. ..
Reserve fund unappropriated profits .. .. 52,685
Amortised New Zealand Government
discounted premiums .. .. 1,249
53,934
$14,975,668

Current assets—
$ $ $ $
Cash on hand and at bank .. .. 699,765
Fixed deposits .. .. 280,000
Interest accrued on investments .. .. 123,586
Owing by other trustee savings banks 8,248
Repayments .. .. 1,086
Remittances in transit .. ..
Sundry debtors .. .. 30,485

Total ordinary investments .. .. 1,143,170