31 JULY

Current assets—
Cash on hand and at bank .. 429,766
Fixed deposits .. .. .. 1,325,475
Interest accrued on investments .. 183,829
Owing by other trustee banks .. 14,921
Prepayments .. .. .. .. ..
Remittances in transit .. .. ..
Sundry debtors .. .. .. .. 19,350

Total current assets .. .. .. 1,973,341

Ordinary investments—
New Zealand Government stock .. 10,660,495
Local authority securities .. 1,072,267
Mortgages .. .. .. .. 10,834,277
Personal loans .. .. .. 212,563

Total ordinary investments .. .. .. 22,779,602

National savings securities—
New Zealand Government stock Cash on hand and at bank

Total national savings securities .. .. ..

Depre-
Cost ciation Book
Price to Date Value

Fixed assets—
Land and buildings .. 241,896 9,841 232,055
Furniture and fittings, etc. .. 301,335 106,605 194,730
Total fixed assets .. .. .. .. 426,785
Intangible assets .. .. .. ..

$25,179,728

PHILIP PROCTOR, K.B.E., President.
J. W. BROWN, General Manager.

AUDITORS' CERTIFICATE

We report that we have audited the books and accounts of the Wellington Savings Bank for the year ended 31 March 1975 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 1975 and the results of its operations for the year then ended, in conformity with generally accepted accounting principles which with the exception of the items referred to in notes 1 and 2 to the accounts were applied on a basis consistent with that of the preceding year.

Wellington, New Zealand, 13 May 1975.
HUTCHISON, HULL & CO., Chartered Accountants.

SOUTH CANTERBURY SAVINGS BANK
PROFIT AND LOSS ACCOUNT FOR YEAR ENDING 31 MARCH 1975
To interest to depositors—
On open accounts .. .. .. .. 283,718.31
Closed accounts and matured investment accounts 32,421.51
Accrued on investment accounts .. .. 99,148.52

415,288.34

To administrative expenses .. .. .. 271,421.13
To trustees' honoraria .. .. .. 2,934.00
To depreciation .. .. .. .. 8,619.87
To provision for taxation .. .. .. 51,499.30
To net profit to profit and loss appropriation account .. .. .. .. 62,680.39

$812,443.03

By interest on—
New Zealand Government stock .. .. 342,001.64
Local body securities .. .. .. 80,945.75
Fixed deposits .. .. .. .. 67,755.90
Mortgages.. .. .. .. .. 303,007.69
Personal loans .. .. .. .. 2,001.81

795,712.79

By commission, rents, etc. .. .. .. 16,730.24

$812,443.03

THE NEW ZEALAND GAZETTE
1707

PROFIT AND LOSS APPROPRIATION ACCOUNT
FOR YEAR ENDING 31 MARCH 1975

$
10,000.00
55,155.39
$65,155.39

$
2,475.00
62,680.39
$65,155.39

BALANCE SHEET AS AT 31 MARCH 1975

Liabilities

Depositors' Accounts—
Ordinary accounts .. 10,179,265.51
Thrift club accounts .. 621,685.11

10,800,950.62

Current accounts .. 93,243.70
Investment accounts .. 2,725,740.00

Total liability to depositors .. .. .. 13,619,934.32

Other liabilities—
Interest accrued on investment accounts .. .. 99,148.52
Mortgage .. .. .. 30,000.00
Bank overdraft .. .. .. 28,592.06
Sundry creditors .. .. .. 15,385.06
Owing to other trustee banks 12,614.58

Total other liabilities .. .. .. 185,740.22
Provision for grants .. .. .. 10,000.00
Provision for taxation .. .. 51,499.30
Less prepaid .. .. .. 46,246.00

5,253.30

Premium due on Redemption Government stock 16,050.00

Reserve fund—
Balance 31 March 1974 .. 178,279.67
Add balance appropriation account 31 March 1975 .. 55,155.39

233,435.06

$14,070,412.90

Assets

$
745,843.60
600,000.00
116,122.96
3,064.92
32,450.58
1,497,482.06

Investments—
New Zealand Government stock (face value) .. .. .. .. 6,500,000.00
Local body securities .. .. 1,432,389.72
Mortgages.. .. .. .. 4,483,005.77
Personal loans .. 40,159.30
Less interest yet to mature .. 3,559.95

36,599.35

12,451,994.84

Fixed assets (at cost)—
Freehold land and buildings .. .. .. 90,103.47
Alterations to lease-hold premises .. .. 9,822.97
Office equipment and furniture .. .. 72,279.81

172,206.25

Less depreciation to date .. .. 51,270.25

120,936.00

$14,070,412.90