230
THE NEW ZEALAND GAZETTE
No. 5

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED
30 SEPTEMBER 1981

1981 1980
$ $
Interest to depositors .. .. .. 14,895 14,224
Management and operating expenses .. .. .. 5,930 4,356
Total expenses .. .. .. 20,825 18,580
Provision for taxation .. .. .. 2,435 1,926
Net profit for period .. .. .. 2,965 2,347
$26,225 $22,853

Income from—
New Zealand Government Stock and local
authority securities .. .. .. 8,201 7,841
Mortgage and other loans .. .. .. 16,686 13,424
Other .. .. .. 1,338 1,588
$26,225 $22,853

PROFIT AND LOSS APPROPRIATION ACCOUNT

1981 1980
$ $
Dividend provided or paid .. .. .. 550 440
Transfer to general reserve .. .. .. — 1,700
Balance carried forward .. .. .. 3,469 1,054
$4,019 $3,194

1981 1980
$ $
Balance brought forward .. .. .. 1,054 836
Prior period adjustment .. .. .. — 11
Net profit for period .. .. .. 2,965 2,347
$4,019 $3,194

REPORT OF THE AUDITORS TO THE MEMBERS OF A.N.Z.
SAVINGS BANK (NEW ZEALAND) LTD.

We have obtained all the information and explanations that we have required. In our opinion, proper books of accounts have been kept by the company so far as appears from our examination of those books, and to the best of our information and the explanations given to us, and as shown by the said books, the balance sheet and profit and loss account are properly drawn up so as to give respectively a true and fair view of the state of the company’s affairs as at 30 September 1981, and of the results of the business for the year ended on that date.

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

HUNT DUTHIE AND CO.
HUTCHISON HULL AND CO. } Joint Auditors.
6 November 1981.
Wellington, New Zealand.

NOTES FORMING PART OF THESE ACCOUNTS

1. Bases of accounting—
   These accounts are prepared on an historical cost basis. The following significant accounting principles have been applied:
   (a) Premiums and discounts on dated investments are amortised from the date of purchase to maturity on a straight line basis. Realised profits and losses on sales of investments are taken to profit and loss account in equal instalments over 5 years commencing with the year in which disposal takes place. As redeemable quoted investments are normally held to or near maturity, no provision is considered necessary for any difference between the book amounts and the market values of such individual stocks quoted below book amounts at the balance date, neither have any transfers been made from reserves or out of the current year’s profits to write them down, apart from the amortisation of premium on stocks bought above par, referred to above.
   (b) Provision for taxation includes an appropriate adjustment for deferred taxation.

2. The market value of Government and local authority securities at 30 September 1981 was $55,450,000. (1980 $77,751,000).

3. There is a contingent liability for subsidies on home lay-by accounts.

4. Reserve Funds
   General Reserve
   Opening Balance .. .. .. .. .. 3,800 7,100
   Transfer from profits .. .. .. — 1,700
   Dividends paid .. .. .. .. .. 3,800 8,800
   Closing Balance .. .. .. .. .. $3,800 $3,800

5. Depositors’ accounts are shown after adjustment for provision for losses $7,889 (1980 $2,975).

6. The names of other group companies are listed for reference:
   ANZ Banking Group (New Zealand) Ltd.
   ANZ Pensions (New Zealand) Ltd.
   ANZ Properties (New Zealand) Ltd.
   Endeavour Investments (New Zealand) Ltd.
   UDC Group Holdings Ltd.
   Subsidiaries of UDC Group Holdings Ltd.
   UDC Finance Ltd.
   UDC Mercantile Securities Ltd.
   UDC Properties Ltd.
   UDC Developments Ltd.
   UDC Nominees Ltd.
   United Dominions Corporation Ltd.
   Mercantile Discounts Ltd.
   Credit for Industry (NZ) Ltd.
   The Traders’ Finance Corporation Ltd.
   United Finance Corporation Ltd.
   Mercantile Securities (Hong Kong) Ltd.
   Quebracho Investments N.V.

5029

CONTENTS

ADVERTISEMENTS .... .... .... .... 216
APPOINTMENTS .... .... .... .... 161
BANKRUPTCY NOTICES .... .... .... 214
LAND TRANSFER ACT: NOTICES .... .... 215

MISCELLANEOUS—
Commerce Act: Notices .... .... .... 194, 211
Corrigendum .... .... .... .... 159
Customs Tariff: Notices .... .... .... 196
Harbours Act: Notices .... .... .... 179, 193
International Air Services Licensing Act: Notice .... 180
Land Act: Notices .... .... .... 185, 187
Local Government Act: Notices .... .... 192
Maori Affairs Act: Notices .... .... 179
Milk Act: Notice .... .... .... 193
National Roads Board: Notice .... .... 179
Post Office Act: Notice .... .... 163
Public Works Act: Notice .... .... 179
Rate of Fecs Mannosidosis Testing: Notice .... 198
Regulations Act: Notice .... .... 195
Reserve Bank: Statement .... .... 194
Standards Act: Notices .... .... 193
Traffic Regulations: Notices .... .... 193

PROCLAMATIONS, ORDERS IN COUNCIL, AND WARRANTS .... 160

Price $2.40
BY AUTHORITY: P. D. HASSELBERG, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1982