618 THE NEW ZEALAND GAZETTE No. 26

Less liabilities—
Depositors accounts ........................ 154,260 172,149
Accrued interest and sundry
balances ................................... 9,185 4,169
Provision for taxation ..................... — 600
Deferred tax ............................... 1,145 1,134
Total liabilities .......................... 164,590 178,052
Net assets ................................. $5,929 $5,094

Represented by shareholders equity—
Authorised and issued share
capital 2,000,000 ordinary
shares of $1 each .......................... 2,000 2,000
Less uncalled share capital
2,000,000 ordinary shares
of .70c each ............................... 1,400 1,400
Paid up capital ............................ 600 600
General Reserve ............................ 5,000 4,000
Retained Income ............................ 329 494
Total shareholders equity .................. $5,929 $5,094

On behalf of the board:

T. J. N. FOLEY, Director,
J. W. MACKELLAR, Secretary.

Dated this 19th day of November 1982.

NOTES TO THE FINANCIAL STATEMENTS
Year Ended 30 September 1982

1. Statement of Accounting Policies—The general accounting
   principles for the measurement and reporting of profits and losses
   under the historical cost method 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.

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—Profit or losses realised on sale of pub-
lic securities are reflected in the statement of profit in equal annual
instalments over the unexpired period to maturity or five years;
whichever is the shorter.

Taxation—Deferred taxation has been adopted to account for
timing differences primarily in respect of public security interest
income accrued but not paid.

2. New Zealand Public Securities—Book, redemption and market
   value of these securities at 30th September 1982 were:

1982 1981
($000's) ($000's)
Book (including accrued interest) 79,390 86,347
Redemption 79,359 87,397
Market 75,494 81,463

3. Events subsequent to 30 September 1982—On 1 October 1982
   the Bank changed its name from Bank of New South Wales Savings
   Bank (N.Z.) Limited to Westpac Savings Bank—N.Z.—Limited.

4. Statement of Changes in Financial Position—

1982 1981
($000's) ($000's)
Funds were provided: from operations—
Net profit after taxation ................. 835 1,691
From other sources—
Deposits with Westpac Banking
Corporation ............................... 2,008 1,657
Decrease in accrued interest and other
sundry balances ........................... 4,210 785
Increase in depositors balances ........... — 10,482
Decrease in holding of N.Z. Public
Securities ................................ 6,854 —
Decrease in mortgages and loans .......... 3,982 —
$17,889 $14,615

Funds were applied to—
Increase in mortgages and loans ........... — 10,015
Increase in holding of N.Z. Public
Securities ................................ — 4,000
Dividend paid ............................. — 600
Repayment of depositors balances .......... 17,889 —
$17,889 $14,615

AUDITORS' REPORT TO THE MEMBERS OF WESTPAC SAVINGS
BANK—N.Z.—LIMITED
(FORMERLY BANK OF NEW SOUTH WALES SAVINGS BANK
(N.Z.) LIMITED

We have obtained all the information and explanations that we
have required. In our opinion proper accounting records have been
kept by the Bank so far as appears from our examination of those
records.

In our opinion, according to the best of our information and the
explanations given to us and as shown by the said records the finan-
cial statements are properly drawn up using the historical cost
method so as to give a true and fair view of the state of the Bank's
affairs as at 30 September 1982 and the results of its business and
changes in financial position for the year ended on that date.

According to such information and explanations the financial
statements give the information required by the Companies Act
1955 in the manner so required.

Wellington, N.Z., 4 November 1982.

HUTCHISON HULL & CO., Chartered Accountants.

GENERAL PUBLICATIONS

SPORT SERIES
DEPARTMENT OF EDUCATION

A series of sport booklets, designed as guide books for teachers,
coaches, and players is one of the most popular series of sport
instruction titles published by the Government Printer and is highly
recommended:

Association Football .............................. $1.60 plus 55c p & p
Athletics ......................................... $1.30 plus 40c p & p
Badmington ........................................ $1.00 plus 40c p & p
Ballroom Dancing .................................. $3.00 plus 55c p & p
Basketball ........................................ $3.75 plus 55c p & p
Campcraft ......................................... $2.75 plus 55c p & p
Canoeing .......................................... $4.25 plus 53c p & p
Cricket ........................................... $1.00 plus 40c p & p
Hockey ............................................ $4.95 plus 55c p & p
Netball ........................................... $2.00 plus 55c p & p
Orienteering ...................................... $6.75 plus 85c p & p
Rugby ............................................. $1.00 plus 40c p & p
Softball .......................................... $1.00 plus 40c p & p
Squash ............................................ $1.00 plus 40c p & p
Swimming .......................................... $4.25 plus 55c p & p
Table Tennis ...................................... $1.00 plus 40c p & p
Tennis ............................................ $3.75 plus 55c p & p
Volleyball ........................................ $1.75 plus 55c p & p

THE NEW ZEALAND ARMY
A History from the 1840s to the 1980s

117 p. 1982. Illustrated. $5.25 plus 85c p & p

The reader is given an outline history of the Army, from the days
of Maori Chief Hone Heke in the 1840's to the present day. The
117 page history contains over 100 photographs and paintings,
many of which are published for the first time.

JOINERY
N.Z. TECHNICAL CORRESPONDENCE INSTITUTE

Joinery, Part I, is the first of four books prepared by the Technical
Correspondence School. It deals with methods of construction of
doors, framed and ledged door, panelled doors, flush doors, and
glazed doors.

Joinery, Part II, deals with door frames, transoms, and sidelights;
sliding, folding, and special doors; hardware, finishing, and gates.

Joinery, Part III, covers window joinery. It also deals with built-
in-fitments, carcass work; fitment doors and drawers.

Woodworking Machinery, is the fourth book in the series, cover-
ing circular saws, saw blades, surface planing, and thickness
machines, vertical spindle moulding machines, and other machines
commonly used in woodworking establishments.

Joinery Part I .................................... $9.95 plus $0.85 p & p
Joinery Part II ................................... $5.25 plus $0.85 p & p
Joinery Part III .................................. $15.95 plus $1.50 p & p
Woodworking Machinery ........................... $9.95 plus $0.85 p & p