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New Zealand Gazette – 1976 – No. 104

Page 2326

✨ Bank of New Zealand Savings Bank Limited Financial Statements

2326

THE NEW ZEALAND GAZETTE

No. 104

Assets

1975
($000)

1976
($000)

5,073 Deposits at Bank of New Zealand

6,721

Investments—

New Zealand Government stock—

84,300 3.75% special

99,800

952 7% special

10,200

34,478 Other

25,026

10,246 Local authority securities

7,896

142,922

46,645 Mortgages and other loans

72,155

952 Australian Government securities

1,328

479 Other investments

—

1,653 Income accrued on investments

1,887

218,292

The redemption value of the New Zealand Government stock and local authority securities appearing in the balance sheet is $137,317,000, and the market value $137,317,000.

The book value of securities purchased at a discount or at a premium are adjusted annually so as to attain their redemption values by maturity date.

$183,826

$225,013

PROFIT AND LOSS STATEMENT FOR THE YEAR ENDED 31 MARCH 1976

1975
($000)

1976
($000)

Trading Income—

Income from New Zealand Government stock and local authority securities

5,352

5,844

3,567 Income from other investments

5,233

18 Other income

8,937

11,098

Less operating expenses—

5,230 Interest to depositors

6,506

2,273 Management and operating expenses

3,012

9,518

1,434 Net profit before taxation

1,580

665 Less provision for taxation

732

769 Net profit after taxation

848

This income was distributed as follows—

150 Dividend paid

200

619 Transfer to reserve

648

769

848

On behalf of the board:

B. H. SMITH, General Manager.

L. N. ROSS, Director.

G. A. CHAPMAN, Director.

NOTES TO THE ACCOUNTS OF BANK OF NEW ZEALAND SAVINGS BANK LIMITED

Statement of Accounting Policies

General accounting principles—The reports of the Bank of New Zealand Savings Bank Limited have been prepared on an historical cost basis.

Tax allocation—The charge against income for taxation is the estimated liability in respect of the accounting profit reported for the year. This differs from the amount due to be paid this year and the sum of $75,000 has been charged to provision for deferred taxation account. This difference is the amount calculated on net income realised which had been accrued but not received in the previous period.

Conversion of foreign currencies—Figures in the accounts are expressed in New Zealand currency. Rates used in conversion are those current at balance date.

AUDITORS’ REPORT TO MEMBERS OF BANK OF NEW ZEALAND SAVINGS BANK LIMITED

We have obtained all the information and explanations that we have required. In our opinion proper books of account have been kept by the company so far as appears from our examination of those books. In our opinion, according to the best of our information and the explanations given to us and as shown by the said books, the balance sheet and the profit and loss statement are properly drawn up so as to give respectively a true and fair view of the state of the company’s affairs as at 31 March 1976, and of the results of its business for the year ended on that date.

According to such information and explanations, the accounts, the balance sheet, and the profit and loss statement give the information required by the Companies Act 1955, in the manner so required.

HUNT DUTHIE & CO., Chartered Accountants.

Wellington, 14 May 1976.

2448

DEPARTMENT OF SCIENTIFIC AND INDUSTRIAL RESEARCH PUBLICATIONS

BULLETIN No. 113

The Academic Record of Science Students in the University of New Zealand. By I. D. DICK, R. M. WILLIAMS, and DERMOT STRAKER. Price 65c.

BULLETIN No. 114

Diseases and Pests of Peas and Beans in New Zealand, and Their Control. By R. M. BRIEN, E. E. CHAMBERLAIN, and Others. Price 95c.

BULLETIN No. 116

A Manual of the Spores of New Zealand Pteridophyta. By W. F. HARRIS. Full bound. Price $2.30.

CONTENTS

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VUW Te Waharoa — NZ Gazette 1976, No 104

NZLII — NZ Gazette 1976, No 104

The General Assembly Library (on the right) was completed in 1899 and survived the 1907 fire. Now the oldest remaining original Parliament building, still used as the Parliamentary Library.

✨ LLM interpretation of page content

💰 Bank of New Zealand Savings Bank Limited Balance Sheet (continued from previous page)

Domain💰 Finance & Revenue
KeywordsBalance Sheet, Deposits, Liabilities, Shareholders' Funds, Investments, Mortgages, Loans
👩‍💼 Officials

B. H. Smith, General Manager
L. N. Ross, Director
G. A. Chapman, Director

💰 Bank of New Zealand Savings Bank Limited Profit and Loss Statement

Domain💰 Finance & Revenue
KeywordsProfit and Loss, Trading Income, Operating Expenses, Net Profit, Taxation, Dividend, Reserve
👩‍💼 Officials

B. H. Smith, General Manager
L. N. Ross, Director
G. A. Chapman, Director

💰 Notes to the Accounts of Bank of New Zealand Savings Bank Limited

Domain💰 Finance & Revenue
KeywordsAccounting Policies, Historical Cost Basis, Tax Allocation, Deferred Taxation, Foreign Currency Conversion

💰 Auditors' Report to Members of Bank of New Zealand Savings Bank Limited

Domain💰 Finance & Revenue
Dated14 May 1976
KeywordsAudit Report, Financial Statements, True and Fair View, Companies Act 1955
👩‍💼 Officials

Hunt Duthie & Co., Chartered Accountants

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