New Zealand Gazette – 1984 – No. 223

Page 5427

✨ Bank Financial Statements



29 NOVEMBER
THE NEW ZEALAND GAZETTE
5427

Unless written objection is made to the Registrar within 30 days of the 29th day of November 1984 (the date this notice was posted in accordance with section 335A (3) (b) of the Companies Act) the Registrar may dissolve the company.

Dated this 29th day of November 1984.

M. D. McPHERSON, Secretary.

2546

WAIKATO SAVINGS BANK

STATEMENT OF PROFIT AND RESERVES FOR THE YEAR ENDED 31 MARCH 1984

Note 1984 $000 1983 $000
Interest income 2 30,811
Interest expenses 19,087
Net interest income 11,724
Other income 3 713
Total operating income 12,437
Operating expenses 8,315
Operating profit 4,122
Losses on trading securities 4 (118)
Associated company share of profits 52
Taxation payable by associated company (22)
Net profit before taxation 5 4,034
Taxation payable (2,077)
Net profit after taxation 1,957
Reserves opening balance 5,806
Changes to reserves 6 2,706
Grants (200)
Total reserves 7 $10,269

The statement of Accounting Policies and the Notes to the Accounts are to be read in conjunction with the Financial Statements.

BALANCE SHEET AS AT 31 MARCH 1984

Note 1984 $000 1983 $000
Deposits in Cheque Accounts, Hit Accounts, Term Investments, Home and Farm Ownership Accounts etc. 233,047
Registered housing bonds 5,749
238,796
Current Liabilities—
Provision for deferred taxation 5 2,758
Housing Corporation of New Zealand 1,413
Reserves 7 10,269
$257,381
Current Assets—
Deposits with trading banks 5,434
Deposits with short term money market 24,721
Notes and coins 628
Interest accrued on investments 3,360
Debtors 791
Taxation refund due 5 1,299
36,233
Investments—
New Zealand Government Securities 8 88,514
Local authority securities 9 472
Mortgages of real estate 104,201
Personal loans and term loans 15,972
Overdrafts 2,342
Trusteebank Visa 2,106
Associated company 10 337
213,944

Fixed Assets—

Note 1984 $000 1983 $000
Land 605
Buildings 4,852
Office furniture, plant etc. 11 1,747
$257,381

The statement of Accounting Policies and the notes to the accounts are to be read in conjunction with the Financial Statements.

D. J. BRAITHWAITE, President.

S. R. McROBIE, General Manager.

STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED 1984

1984 $000 1983 $000
Funds were provided—
From Operations:
Net profit after tax 1,957
Adjustment for items not involving movement of funds (128)
1,829
From Other Sources—
Deposit increase 34,911
Housing Corporation Increase 602
Repayments—Mortgages 13,578
—Personal loans 7,778
—Local authority securities 55
—New Zealand Government stock 64
Sales—Local authority securities 353
—New Zealand Government stock 7,548
—Fixed assets 66
Deferred taxation increase 1,614
$68,398
Funds Were Applied To:
Mortgage advances 25,177
New Zealand Government stock 27,505
Local authority stock 272
Personal loans, overdrafts, Visa advances, associated Co. 11,579
Fixed assets 660
Taxation paid 2,728
Grants paid 150
Increase/decrease in working capital 327
$68,398
Increase/Decrease In Working Capital—
Cash, short term deposits (798)
Sundry debtors 99
Accrued interest 1,868
Provisions (663)
Sundry creditors (179)
$327

NOTES TO THE ACCOUNTS

1. Statement of Accounting Policies—

General Accounting Policies:

As recommended by the New Zealand Society of Accountants

(i) The measurement base adopted is that of historical cost modified by the revaluation of certain assets. Reliance is placed on the fact that the bank is a going concern.

(ii) Accrual accounting is used to match expenses and revenues.

Particular Accounting Policies:

(a) Revenue and Expenses Recognition

(i) Personal loan interest has been recognised on the sum of the digits basis.

(ii) Losses associated with dealings in securities have been allocated to revenue during the current year.

(iii) The charge for income tax is the amount of tax liability in respect of the accounting profit for the current year. Taxation charges which are expected to be payable in accounting periods subsequent to the 1984/85 financial year are included under the heading “Provision for Deferred Taxation”.

Deferred taxation arises out of timing differences resulting from differing treatment for accounting and taxation purposes of Government stock transactions and interest income.



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✨ LLM interpretation of page content

🏭 Notice of Intention to Apply for Dissolution of Whangamata Amusements Ltd. (continued from previous page)

🏭 Trade, Customs & Industry
29 November 1984
Company dissolution, Whangamata Amusements Ltd.
  • M. D. McPherson, Secretary

💰 Waikato Savings Bank Financial Statements for the Year Ended 31 March 1984

💰 Finance & Revenue
Financial statements, Profit and loss, Balance sheet, Waikato Savings Bank
  • D. J. Braithwaite, President
  • S. R. McRobie, General Manager