New Zealand Gazette – 1978 – No. 4

Page 186

✨ Financial Statement and Publications



186 THE NEW ZEALAND GAZETTE No. 4

BANK OF NEW SOUTH WALES SAVINGS BANK (N.Z.)
LIMITED

STATEMENT OF PROFIT AND UNAPPROPRIATED PROFITS—YEAR
ENDED 30 SEPTEMBER 1977

1976 1977
$ Expenses— $
3,053,367 Interest to depositors .. .. .. 3,715,854
1,645,887 Management and operating expenses .. 2,103,887
6,500 Auditors' remuneration .. .. .. 4,200
136,534 Income tax provided .. .. .. 119,324
166,874 Net profit for year .. .. .. 145,839
5,009,162 6,089,104
Appropriations—
100,000 Dividend paid .. .. .. 100,000
150,000 Transfer to General Reserve .. .. 150,000
810,899 Unappropriated funds at end of year 548,016
$1,060,899 $798,016
1976 1977
$ Income— $
Income from investments—
2,827,293 New Zealand Government stock and local authority securities 3,132,844
1,961,448 Mortgages and other loans .. .. 2,513,301
220,421 Other .. .. .. .. 442,959
5,009,162 6,089,104
893,914 Unappropriated profits at beginning of year 810,899
Prior year adjustments—
111 Add overprovision for 1976 taxes (note 2) 136,534
894,025 947,433
Less deferred taxation .. .. 295,256
652,177
166,874 Net profit for year .. .. .. 145,839
$1,060,899 $798,016

NOTES TO THE FINANCIAL STATEMENTS
Year ended 30 September 1977

  1. Statement of Accounting Policies—The general accounting principles for the measurement and reporting of profits and losses under the historical cost method have been adopted in the preparation of these financial statements.

The following particular accounting policies which materially affect the measurement of profit and of financial position have been applied and are unchanged from last year except as referred to below:

Valuation of assets: New Zealand public securities are valued at cost adjusted annually for the proportion of discount or premium on purchase so as to allow redemption value by maturity date.

Sale of Public Securities: Profits or losses realised on sale of public securities are reflected in the statement of profit in equal annual instalments over the unexpired period to maturity of five years, whichever is the shorter.

Taxation: Deferred taxation has been adopted this year to account for timing differences primarily in respect of public security interest income accrued but not received. The adoption of deferred taxation has increased the amount of income tax provided in the statement of profit by $16,300. An adjustment for the tax effect relating to prior years has been made to unappropriated profits.

  1. Taxation overprovided—The overprovision of prior years' taxes credited to unappropriated profits is due to the Bank utilising deductions available in respect of public security interest accrued but not received.

  2. New Zealand Public Securities—The redemption values of these securities at 30 September 1977 is $69,017,000 (1976 $67,599,000).

THE NEW ZEALAND GAZETTE

The New Zealand Gazette is published on Thursday evening of each week, and notices for insertion must be received by the Government Printer before 12 o'clock of the day preceding publication.

Advertisements are charged at the rate of 20c per line.

The number of insertions required must be written across the face of the advertisement.

All advertisements should be written on one side of the paper, and signatures, etc., should be written in a legible hand.

GENERAL PUBLICATIONS

ENGINEERING PUBLICATIONS

Now available through Government bookshops are the following engineering publications that will be of interest to all civil engineers and those associated with engineering. These publications, prepared by the Civil Engineering Division of the Ministry of Works and Development, supply such information as: stress, load bearing, design, and examples of the various equations.

ASSESSMENT OF POSTING WEIGHT LIMITS FOR HIGHWAY BRIDGES
(CDP 704/B) November 1974
13 p. $1.60

BRIDGE CLASSIFICATION AND DECK GRADING FOR OVERWEIGHT PERMITS
Issue (A) June 1973
40 p. $2.50

DESIGN TABLES
(CDP 802/B) October 1974
8 p. $1.40

DUCTILITY OF BRIDGES WITH REINFORCED CONCRETE PIERS
(CDP 810/A) April 1975
109 p. $7

RETAINING WALL DESIGN NOTES
(CDP 702/C) 1973
88 p. $4.75

CONTENTS

Page
ADVERTISEMENTS ..... ..... ..... ..... 176
APPOINTMENTS ..... ..... ..... ..... 144
BANKRUPTCY NOTICES ..... ..... ..... ..... 175
LAND TRANSFER ACT: NOTICES ..... ..... ..... 175
MISCELLANEOUS—
Cinematograph Films Act: Notice ..... ..... 161
Commerce Act: Notice ..... ..... ..... 152
Companies Act: Notice .. ..... ..... ..... 155
Corrigendum: Notices ..... ..... ..... 143
Counties Act: Notice ..... ..... ..... 156
Counties Amendment Act: Notice ..... ..... 152
Customs Tariff: Notices ..... ..... ..... 164, 167, 172
Education Act: ..... ..... ..... ..... 152
Harbours Act: Notices ..... ..... ..... 156
Industries Development Commission: Notice ..... 155
Local Authorities Loans Act: Notice ..... ..... 155
Maori Affairs Act: Notices ..... ..... ..... 154
Marriage Act: Notices ..... ..... ..... 145
Motor Launch Regulations: Notice ..... ..... 156
Public Works Act: Notices ..... ..... ..... 145
Regulations Act: Notice ..... ..... ..... 170
Reserve Bank: Statement ..... ..... ..... 164
Reserve Bank: Summary ..... ..... ..... 171
Sale of Liquor Act: Notices ..... ..... ..... 153
Schedule of Contracts: Notice ..... ..... 166
Traffic Regulations Act: Notice ..... ..... 155
PROCLAMATIONS, ORDERS IN COUNCIL, AND WARRANTS 143

Price 60c BY AUTHORITY: E. C. KEATING, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1978


PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1978, No 4


NZLII — PDF NZ Gazette 1978, No 4




✨ LLM interpretation of page content

💰 Statement of Profit and Unappropriated Profits for Bank of New South Wales Savings Bank (N.Z.) Limited (continued from previous page)

💰 Finance & Revenue
30 September 1977
Bank, Financial Statement, Profit, Unappropriated Profits, Bank of New South Wales Savings Bank (N.Z.) Limited

💰 Notes to the Financial Statements for Bank of New South Wales Savings Bank (N.Z.) Limited

💰 Finance & Revenue
Financial Statements, Accounting Policies, Taxation, Public Securities

📰 Gazette Publication Information

📰 NZ Gazette
Gazette, Publication, Advertisements, Notices

🏗️ Engineering Publications Available

🏗️ Infrastructure & Public Works
Engineering, Publications, Civil Engineering, Ministry of Works and Development

📰 Table of Contents for the Gazette

📰 NZ Gazette
Table of Contents, Notices, Proclamations, Orders in Council