New Zealand Gazette – 1973 – No. 60

Page 1253

✨ Banking Financial Statements

28 JUNE

THE NEW ZEALAND GAZETTE

DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED
31 MARCH 1973—continued

By Interest accrued and received	$	$
from—	1973	1972
New Zealand Government stock	855,933.10	838,805.77
Local authorities stock	3,969.66	4,465.08
Mortgages	815,447.42	673,919.75
Other sources	96,877.98	72,782.43
	1,772,228.16	1,589,973.03
Commissions, fees, and sundry receipts	36,747.00	35,031.92
	$1,808,975.16	$1,625,004.95

E. R. HARFORD, President.

E. A. EVANS, General Manager.

AUDITORS' CERTIFICATE

We have examined the balance sheet of Taranaki Savings Bank as of 31 March 1973, and the related profit and loss account for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.

In our opinion, the accompanying balance sheet and profit and loss account present fairly the financial position of Taranaki Savings Bank at 31 March 1973, 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.

WYNYARD, GLASGOW, FOX, AND CO., Chartered Accountants.

New Plymouth, 14 May 1973.

988

WANGANUI SAVINGS BANK

BALANCE SHEET AS AT 31 MARCH 1973

Depositors' accounts—

	$	$
Savings	..	9,182,953.41
Thrift	..	592,419.81
		9,775,373.22
Investment accounts	..	3,891,057.57
Total liability to depositors	..	13,666,430.79

Other liabilities—

| Interest accrued on investment accounts | .. | 75,083.82 |
| Mortgages | .. | 57,584.04 |
| Owing to other trustee savings banks | .. | 18,657.46 |
| Sundry creditors | .. | 15,795.63 |
| | | 167,120.95 |
| Provision for donations | .. | 9,500.00 |
| Provision for taxation | .. | 76,152.19 |
| Provision for future loss on sale of statutory investments | .. | 14,301.00 |
| Premiums due on redemption of investments | .. | 6,454.71 |
| Reserve fund | .. | 137,288.54 |
| | | $14,077,248.18 |

Current assets—

	$	$
Cash on hand and at bank	..	694,369.57
Fixed deposits	..	413,441.69
Interest accrued on investments	..	101,784.31
Owing by other trustee savings banks	..	10,106.42
Taxation paid in advance	..	34,645.00
Prepayments	..	21,512.05
		1,275,859.04

Investments—

	$
New Zealand Government stock	7,005,740.00
Local authority securities	623,938.44
Mortgages	5,005,257.80
Total investments	..	12,634,936.24

Fixed assets—

Cost Price	Depreciation to Date	Book Value
Land and buildings	$87,082.56	$4,674.66
Vehicles, equipment,furniture, etc.	$165,317.65	$81,272.65
Total fixed assets	..	..

$14,077,248.18

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1973

Interest to depositors—

| On open accounts | .. | .. | .. | .. | $209,148.21 |
| Closed accounts and matured investment accounts | .. | .. | .. | .. | $120,893.15 |
| Accrued on investment accounts | .. | .. | .. | .. | $75,083.82 |
| | | | | | $405,125.18 |

Administration expenses

| | .. | .. | .. | .. | $252,892.41 |
| Trustees honoraria | .. | .. | .. | .. | $2,940.50 |
| Depreciation | .. | .. | .. | .. | $16,197.13 |
| Provision for taxation | .. | .. | .. | .. | $45,108.20 |
| Net profit—carried down | .. | .. | .. | .. | $64,062.87 |
| | | | | | $786,326.29 |

Interest on investments—

| From New Zealand Government stock | .. | .. | .. | .. | $324,857.83 |
| From local authorities stock | .. | .. | .. | .. | $32,287.76 |
| From mortgages | .. | .. | .. | .. | $325,557.37 |
| From other sources | .. | .. | .. | .. | $56,275.11 |
| | | | | | $738,978.07 |

Income from other sources

| | .. | .. | .. | .. | $47,348.22 |
| | | | | | $786,326.29 |

APPROPRIATION ACCOUNT

| Provision for donations | .. | .. | .. | $9,500.00 |
| Transfer to reserve | .. | .. | .. | $58,234.72 |
| | | | | $67,734.72 |

Net profit—brought down
Over provision for taxation 1971–72

| | | .. | .. | $64,062.87 |
| | | .. | .. | $3,671.85 |
| | | | | $67,734.72 |

NOTES—

Redemption of investments: Low interest yielding stock was sold during this and previous years and replaced with higher interest stock which will produce increased income over the term of the investments.
The values of Government stock held on 31 March 1973 were as follows—

	$
Cost value	..
Face value	..
Market value	..

Mortgages approved and not yet advanced totalled $383,050.
Interest on investment accounts has been accrued at the average rate paid during the year.
There are capital commitments of $17,500 in respect of the purchase and alterations of a property at present leased by the bank as a district office.

J. I. JOLLEY, President.

G. I. C. McDOUALL, General Manager.

AUDITORS' CERTIFICATE

We have examined the records and financial accounts of the Wanganui Savings Bank for the year ended 31 March 1973. Our examinations were made in accordance with the general principles of auditing and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.

In our opinion, the accompanying balance sheet with notes attached, and profit and loss account present fairly the financial position of the Wanganui Savings Bank at 31 March 1973 and the results of its operations for the year then ended.

BARKMAN, SILK, AND PARTNERS, Auditors.

3 May 1973.

987

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VUW Te Waharoa — NZ Gazette 1973, No 60

NZLII — NZ Gazette 1973, No 60

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✨ LLM interpretation of page content

💰 Taranaki Savings Bank Balance Sheet and Profit and Loss Account (continued from previous page)

Domain💰 Finance & Revenue
Dated14 May 1973
KeywordsBanking, Financial Statements, Balance Sheet, Profit and Loss, Taranaki
👩‍💼 Officials

E. R. Harford, President
E. A. Evans, General Manager
Wynyard, Glasgow, Fox, and Co., Chartered Accountants

💰 Wanganui Savings Bank Balance Sheet and Profit and Loss Account

Domain💰 Finance & Revenue
Dated3 May 1973
KeywordsBanking, Financial Statements, Balance Sheet, Profit and Loss, Wanganui
👩‍💼 Officials

J. I. Jolley, President
G. I. C. McDouall, General Manager
Barkman, Silk, and Partners, Auditors

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