1858
THE NEW ZEALAND GAZETTE
No. 50

FRIENDLY SOCIETY REGISTERED

PURSUANT to section 16 of the Friendly Societies Act 1909, the Cookes Wire Credit Union, with registered office at Auckland, is registered as a specially authorised society under the Friendly Societies Act 1909.

Dated this 13th day of June 1979.

K. M. PRISK, Registrar Friendly Societies.

2028

CANTERBURY SAVINGS BANK
BALANCE SHEET AS AT 31 MARCH 1979

Depositors’ Accounts—
$ $
Current accounts .. 4,966,453
Ordinary accounts .. 127,611,373
Investment accounts .. 92,455,105

Total liability to depositors 225,032,931

Other liabilities—
Interest accrued on depositors’
accounts .. 3,199,615
Staff provident fund .. 1,169,325
Sundry creditors .. 738,221

Total other liabilities 5,107,161
Provision for donations .. 150,000
Provision for taxation .. 1,175,411
Premiums due on redemption of
Government securities .. 527,353
Reserve Fund .. 4,545,632

$236,538,488

Current assets—
Cash on hand and at bank 18,360,677
Interest accrued on investments 1,968,226
Sundry debtors 102,027

Total current assets 20,430,930

Investments—
N.Z. Government securities 86,275,373
Local authority securities 9,562,158
Mortgages 111,932,660
Personal loans 2,740,983

Total ordinary investments 210,511,174

Fixed assets—
Cost Deprecia- Book
Price tion To Date Value
$ $ $
Land and buildings 4,016,866 382,472 3,634,394
Vehicles, equipment,
furniture, etc. 3,404,410 1,442,420 1,961,990

5,596,384

$236,538,488

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED
31 MARCH 1979

Interest to Depositors—
$ $
On open accounts 3,068,904
Closed accounts and matured investment accounts 4,011,251
Accrued on accounts 3,199,615

10,279,770

Administration expenses 5,760,926
Trustees’ honoraria 7,490
Depreciation 812,155
Provision for taxation 1,104,648
Net profit 1,203,997

$19,168,986

Interest on investments—
New Zealand Government securities 5,620,973
Local authorities stock 618,759
Mortgages 10,075,764
Other 2,266,260
Income from other sources 587,230

$19,168,986

APPROPRIATION ACCOUNT

Provision for donations $150,000
Transfer to reserves 1,053,997

$1,203,997

Net profit 1,203,997

$1,203,997

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, 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 1979 and of its results for the year ended on that date.

IAN HOWELL, President.
FRANK DICKSON, General Manager.

30 April 1979
GILFILLAN, MORRIS and Co., Chartered Accountants.
7 May 1979.

WANGANUI SAVINGS BANK
BALANCE SHEET AS AT 31 MARCH 1979

To be read in conjunction with the statement of accounting policies which form part of the financial statements.

Depositors Accounts—
1979 $ 1978 $
Savings 19,110,126 15,841,934
Personal cheque 1,139,614 787,371
Investment accounts 12,154,963 7,982,562
Housing Bonds 112,350 130,450
Accrued interest 237,359 161,205

Total liability to depositors 32,774,412 24,903,462

Other liabilities—
Sundry creditors 39,208 54,951
Provision for donations 20,000 16,000
Provision for taxation 120,510 22,366
Mortgages (secured) 7,400 7,100

Total current liabilities 66,608 100,417

Mortgages (secured) 96,625 94,025
Provision for future taxation 120,510 65,421

Total other liabilities 217,135 159,446

Reserve fund—
Balance 31 March 1978 248,059 206,400
Add balance of appropriation account 62,636 41,659
Add unexpired Government stock .. 3,824

Balance 31 March 1979 310,695 251,883
Property revaluation 133,934 133,934

444,629 385,817

$33,502,784 $25,549,142

Current assets—
Cash on hand and at bank 26,064 99,759
Fixed deposits 2,005,000 1,510,000
Short-term investments 600,000 270,000
Interest accrued on investments 250,153 145,807
Sundry debtors and prepayments 109,597 40,503
Stationery on hand 33,304 45,201
Taxation refund 40,102 —

Total current assets.. 3,064,110 2,111,269

Investments—
Government stock 11,351,139 9,288,233
Local authorities 380,604 366,775
Mortgages 17,325,204 12,385,375
Fixed deposits 160,000 356,00
Personal loans 612,615 277,668

Total investments 29,829,562 22,884,051

Fixed assets—(at cost or valuation)
Land 166,461 166,461
Building and improvements 368,724 298,882
Less depreciation to date 103,393 42,385
Furniture fittings 54,870 16,987
Less depreciation to date 25,822 14,181
Vehicles 8,835 —
Less depreciation to date 110,716 35,139
Office equipment 32,457 —

609,112 553,822

$33,502,784 $25,549,142