2326 THE NEW ZEALAND GAZETTE No. 70

WELLINGTON SAVINGS BANK

PROFIT AND LOSS ACCOUNT—FOR YEAR ENDED 31 MARCH 1979

Interest to depositors—
On open accounts .. .. .. .. .. $932,806
Closed accounts and matured investment accounts .. 710,285
Accrued on investment accounts .. .. .. 580,413
Home lay-by accounts: suspensory free deposits .. 547

sub-total .. .. .. .. .. 2,224,051
Administrative expenses .. .. .. .. 1,979,301
Trustees' honoraria .. .. .. .. .. 4,645
Depreciation .. .. .. .. .. .. 86,518
Provision for taxation .. .. .. .. .. 4,478
Net profit—carried down .. .. .. .. 5,473

$4,304,466

Interest on investments—
From New Zealand Government stock .. .. 1,312,844
From local authorities stock .. .. .. 48,576
From mortgages .. .. .. .. .. 2,264,309
From other sources .. .. .. .. .. 522,245

sub-total .. .. .. .. .. 4,147,974
Income from other sources .. .. .. .. 156,492

$4,304,466

APPROPRIATION ACCOUNT

Provision for donations .. .. .. .. .. 500
Transfer to reserve .. .. .. .. .. .. 5,143

$5,643

Net profit, brought down .. .. .. .. .. 5,473
Provision for donations 1978 reversed .. .. .. 170

$5,643

WELLINGTON SAVINGS BANK

BALANCE SHEET—AS AT 31 MARCH 1979

Depositors' accounts—
Ordinary accounts .. .. .. $33,722,186
Special accounts (detail) .. .. ..

(sub-total) .. .. .. 33,722,186
Investment accounts .. .. .. 18,949,956

Total liability to depositors .. .. .. .. 52,672,142
National savings accounts—
Add interest suspense account .. ..

(sub-total)

Other liabilities—
Interest accrued on investment accounts .. .. 580,413
Mortgages .. .. .. .. .. 173,134
Owing to other trustee banks .. .. ..
Remittances in transit .. .. .. .. 149,181
Staff provident fund .. .. .. .. 235,000
Sundry creditors .. .. .. .. ..
Other (detail) term loan .. .. .. .. 1,137,728
Total other liabilities .. .. .. .. ..
Provision for donations .. .. .. .. .. 500
Provision for taxation .. .. .. .. .. 129,686
(Special appropriations of reserves)
Reserve fund .. .. .. .. .. .. 266,079

$54,206,135

Current assets—
Cash on hand and at Bank .. .. 256,176
Fixed deposits .. .. .. .. 4,020,000
Interest accrued on investments .. .. 407,265
Owing by other trustee savings banks .. ..
Provisional tax paid .. .. .. 90,614
Remittances in transit .. .. ..
Sundry debtors .. .. .. .. 106,835

Total current assets .. .. .. .. .. 4,880,890

Investments—
New Zealand Government stock .. .. .. 19,256,027
Local authority securities .. .. .. .. 582,952
Mortgages .. .. .. .. .. .. 28,282,703
Personal loans .. .. .. .. .. .. 554,637
Total ordinary investments .. .. .. .. 48,676,319
National savings securities:
New Zealand Government stock .. .. ..
Cash on hand and at Bank .. .. ..
Total national savings securities—
Fixed assets—

Total fixed assets .. .. .. .. .. .. 648,926

$54,206,135

LEONARD A. HADLEY, K.B.E., J.P., President.
J. W. BROWN, General Manager.

AUDITORS' REPORT

We report that we have examined the books and accounts of the Wellington Savings Bank for the year ended 31 March 1979, and have received all the information and explanations we have required.

In our opinion, the accompanying balance sheet and statement of profit and loss represents fairly the financial position of the Bank as at 31 March 1979 and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year.

HUTCHISON HULL & CO., Chartered Accountants.

4194

BAY OF PLENTY SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1979

Interest to depositors—
To open accounts .. .. .. .. .. $1,212,829
Closed accounts and matured investment accounts .. 1,192,499
Accrued on investment accounts .. .. .. 854,795
Home Lay-by accounts—suspensory free deposits .. 151

3,260,274
Administrative expenses .. .. .. .. .. 2,180,546
Trustee honoraria .. .. .. .. .. .. 6,137
Depreciation (note 1) .. .. .. .. .. 90,014
Provision for taxation (note 4a) .. .. .. .. 190,562
Net profit—carried down .. .. .. .. .. 242,854

$5,970,387

Interest on investments—
From New Zealand Government stock .. .. 1,961,971
From local authorities stock .. .. .. .. 78,981
From mortgages .. .. .. .. .. .. 3,042,238
From other sources .. .. .. .. .. 594,611

5,677,801
Income from other sources .. .. .. .. .. 292,586

$5,970,387

APPROPRIATION ACCOUNT

Provision for donations .. .. .. .. .. $25,000
Transfer to reserve .. .. .. .. .. .. 249,600

$274,600

Net profit—brought down .. .. .. .. .. 242,854
Share of profit—Northern Trustee Computerbank Ltd. .. 31,746

$274,600