534 THE NEW ZEALAND GAZETTE No. 26

NOTES TO THE ACCOUNTS

1. Accounting policies

The accounts are prepared under the historical cost convention.

Investments

All investments are redeemable at par at fixed dates. Premiums
and discounts on investments are amortised from purchase to
maturity on a straight-line basis. It is usual for the majority of these
investments to be held to, or close to, maturity. The difference
between book values and proceeds on realisation of New Zealand
Government Stock is taken to profit and loss account in the year
incurred.

2. Reserves

An unrealised net gain, arising from adjustment of book value of
securities purchased at discount or a premium and still held,
amounting to $623,886 (1982: $521,252) is included in reserves at
31 October 1983.

3. Taxation

Taxation on profit for the year comprises:

4. Investments: New Zealand Government and local authority
   securities

As at 31 October 1983 the redemption value of New Zealand
Government and local authority securities was $71,041,155 (1982:
$94,505,056) and market value exclusive of accrued interest was
$71,607,250 (1982: $91,619,317).

5. Commitments

The company has entered into agreements with The National
Bank of New Zealand Ltd. for the purchase and sale of Government
securities at future dates. At 31 October 1983 the securities covered
by these agreements amounted to $21,670,665 (1982: $9,812,180).

AUDITORS' REPORT

To THE MEMBERS OF NATIONAL BANK OF NEW ZEALAND
SAVINGS BANK LTD.

IN our opinion the accounts on pages 533 to 534 give a true and fair
view of the state of affairs of the company at 31 October 1983 and
of the results for the year ended on that date.

We have obtained all the information and explanations we have
required. In our opinion the company has kept proper accounting
records and the accounts of the company give in the prescribed
manner the information required by the Companies Act 1955.

PRICE WATERHOUSE, Chartered Accountants.

Wellington, 12 December 1983.

GENERAL PUBLICATIONS

CARPENTRY

N.Z. TECHNICAL CORRESPONDENCE INSTITUTE

302 p. 1980 (reprint). Illustrated. $22.50 plus $3.60 p & p

Metricated with more than 450 illustrations, this edition contains
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GLASSHOUSE TOMATOES

Agriculture Bulletin 370

DEPARTMENT OF AGRICULTURE

86 p. 1978. $3.25 plus 55c p & p

The present text replaces earlier editions of the bulletin. Important
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EGMONT NATIONAL PARK

Edited by J. S. Tullett

114 p. 1980. Fourth edition. $4 plus 55c p & p

This inexpensive publication that can easily be carried about, pro-
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THE NEW ZEALAND GAZETTE

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CONTENTS

Price $2.25 BY AUTHORITY: P. D. HASSELBERG, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1984