New Zealand Gazette – 1986 – No. 112

Page 3124

✨ Financial Statements



3124

THE NEW ZEALAND GAZETTE

No. 112

  1. Reserves—

Revenue Reserves:

Retained earnings
TrusteeBank Computer Limited

Capital Reserves:
Land and buildings revaluation

1986 1985
$ $
Retained earnings 12,957 9,955
TrusteeBank Computer Limited 213 138
13,170 10,093

| | | $16,199| $12,692|
| Land and buildings revaluation | | 3,029 | 2,599 |

  1. New Zealand Government Securities—

Face Value 31 March 1986
Less unamortised premiums and discounts

Book value
Market value (net of interest)

1986 1985
$ $
Face value 95,482 109,237
Less unamortised premiums and discounts 2,797 3,822
Book value 92,685 105,415
Market value (net of interest) 74,712 88,386

The market value of the above stock (net of interest) on 16 May 1986 was $83,244,000.

The Government Guarantee of Depositors' Funds including accrued interest in terms of section 44 of the Trustee Banks Act 1983 and subsequent amendments was in force at balance date and continues to remain in force. However, the requirement to hold New Zealand Government Securities pursuant to the same act was removed on 11 February 1985.

New Zealand Government Securities purchased subsequent to this date have been treated as trading stock and recorded at market value as at balance date. New Zealand Government Securities purchased prior to 11 February 1985 are normally held to maturity and accordingly premiums and discounts are amortised over their life.

  1. Local Authority Securities—
1986 1985
Total advances $6000 $6000
Less sales and matured advances 12,189 11,336
10,946 10,906
1,253 430

Market value of securities

| | 1,093 | 275 |

  1. Associated Company—

TrusteeBank Computer Limited:

Shares at cost
Share of profits
Debentures at cost

1986 1985
$ $
Shares at cost 997 140
Share of profits 213 138
Debentures at cost 1,082 563
2,292 841

Statements of profit and reserves—

TrusteeBank Computer Limited:

Share of profits
Taxation payable by associated company
Dividend received

1986 1985
$ $
Share of profits 154 62
Taxation payable (79) (28)
Dividend received 21 0
96 34

As at 31 March 1986 TrusteeBank Computer Limited had gained an additional two shareholders reducing the bank's share to one-seventh.

  1. Fixed Assets—

| | Cost/
| Valuation | Accumulated
| Depreciation | Book
| Value
| 31/3/86 | 31/3/85 |
|--------------------------------|-------------|----------------|
| | $ | $ |
| Land (at 1981 valuation) | 385 | 245 | 385 | 385 |
| Land (at cost) | 141 | — | 141 | 157 |
| Land—leasehold | 78 | — | 78 | 78 |
| | 604 | | 604 | 620 |

| Buildings (at valuation) | 5,202 | 245 | 4,957 | 4,557 |
| Office equipment/furniture | 4,911 | 2,652 | 2,259 | 1,448 |
| Building alterations | 1,819 | 719 | 1,100 | 693 |
| Motor vehicles | 279 | 118 | 161 | 137 |
| | 12,815 | 3,734 | 9,081 | 7,455 |

Government Valuations (1981):

Head office land and buildings—

| Land | 385 |
| Improvements | 1,317 |
| Capital value | 1,702 |

Branches—

| Land | 46 |
| Improvements | 8 |
| Capital value | 54 |

  1. Commitments—

Loans
T.C.L. (share)

1986 1985
$ $
3,620 2,832
0 1,150


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💰 Trusteebank Waikato Financial Statement (continued from previous page)

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Financial Statement, Profit, Reserves, Balance Sheet, Waikato