22 JUNE
THE NEW ZEALAND GAZETTE
1751

WANGANUI SAVINGS BANK
BALANCE SHEET

Depositors accounts—
Ordinary accounts .. .. .. 15,852,163
Cheque accounts .. .. .. 787,311
Housing bonds .. .. .. 130,450
Sub-total .. .. .. 16,769,924
Investment accounts .. .. .. 7,982,562
Total liability to depositors .. .. 24,752,486

Other liabilities—
Interest accrued on investment accounts .. .. 161,205
Mortgages .. .. .. .. .. .. 101,125
Owing to other Trustee Banks .. .. .. .. .. 62,436
Staff provident fund .. .. .. .. .. .. 54,951
Other (detail) .. .. .. .. .. .. .. .. .. ..

Total other liabilities .. .. .. .. .. .. 379,717
Provision for donations .. .. .. .. .. .. 16,000
Provision for taxation .. .. .. .. .. .. 87,788
Special appropriates of reserves—
Reserve fund .. .. .. .. .. .. .. .. 385,817

$25,621,808

Current assets—
Cash on hand and at bank .. .. .. .. 162,194
Fixed deposits .. .. .. .. .. .. 2,136,000
Stationery on hand .. .. .. .. .. .. 45,201
Interest accrued on investments .. .. .. 145,807
Computer charges .. .. .. .. .. .. 18,544
Owing to other trustee savings banks .. .. 277,669
Personal loans .. .. .. .. .. .. .. 10,229
Remittances in transit .. .. .. .. .. 21,959
Sundry debtors .. .. .. .. .. .. .. ..

Total current assets .. .. .. .. .. 2,817,603

Investments—
New Zealand Government stock .. .. 9,298,233
Local authorities securities .. .. 366,775
Mortgages .. .. .. .. .. .. 12,585,375

Total ordinary investments .. .. .. 22,250,383

Fixed assets—
Cost Depn. Book
Price to Date Value
Land and buildings 523,343 61,226 462,117
Vehicles .. .. 18,789 4,608 14,181
Equipment .. .. 64,162 29,023 35,139
Furniture, etc. 86,122 43,737 42,385

Total fixed assets .. .. .. .. .. 553,822

$25,621,808

1865

CANTERBURY SAVINGS BANK
BALANCE SHEET AS AT 31 MARCH 1978

Depositors’ accounts—
Current accounts .. .. .. 3,164,448
Ordinary accounts .. .. .. 102,758,272
Investment accounts .. .. .. 55,426,561

Total liability to depositors .. .. 161,349,281

Other liabilities—
Interest accrued on investment accounts .. .. 1,722,379
Staff provident fund .. .. .. .. .. .. 948,530
Sundry creditors .. .. .. .. .. .. .. 549,836

Total other liabilities .. .. .. .. .. 3,220,745
Provision for donations .. .. .. .. .. 100,000
Provision for taxation .. .. .. .. .. 755,116
Premiums due on redemption of
Government stock .. .. .. .. .. .. 297,848
Reserve fund .. .. .. .. .. .. .. 3,491,635

$169,214,625

Current Assets—
Cash on hand and at Bank .. .. 19,336,235
Interest accrued on investments .. 1,502,428
Sundry debtors .. .. .. .. .. 107,739

Total current assets .. .. .. 20,946,402

Investments—
New Zealand Government stock .. 62,190,000
Local authority securities .. 6,920,709
Mortgages .. .. .. .. .. .. 73,381,940
Personal loans .. .. .. .. .. 1,374,307

Total ordinary investments .. .. 143,866,956

Fixed assets—
Cost Depreciation Book
$ to Date Value
Land and buildings 3,172,466 168,491 3,003,975
Vehicles, equipment, furniture, etc. 2,340,223 942,931 1,397,292

4,401,267

$169,214,625

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1978

Interest to Depositors—
On open accounts .. .. .. .. .. .. 2,484,336
Closed accounts and matured investment accounts 1,645,798
Accrued on accounts .. .. .. .. .. 1,722,379

5,852,513
Administration Expenses .. .. .. .. 4,363,134
Trustees Honoraria .. .. .. .. .. 7,310
Depreciation .. .. .. .. .. .. 399,020
Provision for taxation .. .. .. .. 681,557
Net Profit .. .. .. .. .. .. 813,501

12,117,035

Interest on Investments—
New Zealand Government Stock .. .. 3,905,618
Local Authorities Stock .. .. .. 380,137
Mortgages .. .. .. .. .. .. 6,002,357
Other .. .. .. .. .. .. .. 1,406,380
Income from other sources .. .. 422,543

12,117,035

APPROPRIATION ACCOUNT

Provision for donations .. .. .. .. 100,000
Transfer to Reserves .. .. .. .. 713,501

813,501

Net Profit .. .. .. .. .. .. 813,501

813,501

AUDITORS’ REPORT

We the undersigned, being the Auditors of the Canterbury Savings Bank, appointed in terms of section 29 (3) of the Trustee Savings Banks’ Act 1948, report that:

We have examined the accompanying balance sheet and profit and loss account and notes and have obtained all the information and explanations we have required. We are of the opinion that proper books of account have been kept by the bank, that the balance sheet accounts and notes comply with the Trustee Savings Banks’ Act 1948, and that they give a true and fair view of the state of affairs of the bank as at 31 March 1978 and of its results for the year ended on that date.

Gilfillan, Morris & Co., Chartered Accountants, 8 May 1978.

I. D. HOWELL, President.
FRANK DICKSON, General Manager.

28 April 1978.
1864