7 AUGUST
THE NEW ZEALAND GAZETTE
3373

3. Fixed Assets:
   Land and buildings are revalued annually and are recorded at a value which is 90 percent of the registered valuation. Changes in valuations are transferred direct to the Reserve Fund.

Freehold buildings
Office machinery
Other fixed assets
Land at valuation
Total fixed assets

Cost or Valuation
2,821,500
2,338,380
1,381,970
1,021,500
$7,563,350

1986 Accurn. Depn.
63,004
976,329
724,023
–
$1,763,356

Book Value
2,758,496
1,362,051
657,947
1,021,500
$5,799,994

Cost or Valuation
2,277,900
1,846,318
1,199,176
823,500
$6,146,894

1985 Accurn. Depn.
39,135
839,167
634,486
–
$1,512,788

Book Value
2,238,765
1,007,151
564,690
823,500
$4,634,106

4. Taxation:
   The charge for income tax is the amount of the tax liability in respect of the accounting profit for the year and includes both current and deferred tax.
   Deferred taxation arises from timing differences on income and expenditure. These differences relate to depreciation and investment income.

Provision for Taxation 1986:
Current taxation
Deferred taxation

80,473
209,042
$289,515

@ 54c per $1
@ 48c per $1

5. Administration Expenses:
   Included in administration expenses are:

Audit Fee
Depreciation
Fringe benefit tax
Trustees fees
Leases

1986 $
31,000
483,813
136,161
33,230
234,020

1985 $
19,500
360,253
–
24,619
228,110

6. Extraordinary Items:
   The extraordinary item of $73,560 is the provision of a further 3c per $1 for deferred taxation accumulated at 31 March 1985 at 45c in the dollar but payable from 1 April 1986 at 48c in the dollar.

7. Prior Year Adjustments:
   Stationery stock on hand 1 April 1985 (see note 1 (b))
   Eastern and Central Trusteebank Travel net loss 31 March 1985

$149,313
$ 15,394

8. Commitments:
   Loans approved but not yet uplifted
   Capital items

1986 $
2,044,000
720,000

1985 $
5,557,000
466,530

AUDITOR’S REPORT TO THE TRUSTEES OF THE EASTERN AND CENTRAL TRUSTEEBANK
We have audited the books and accounts of the Eastern and Central Trusteebank for the year ended 31 March 1986 in accordance with generally accepted auditing standards, and have carried out such procedures as we considered necessary.

In our opinion, the Financial Accounts, together with the notes thereon, are properly drawn up so as to give, using the historical cost method, modified by the revaluation of land and buildings, a true and fair view of the financial affairs of the Eastern and Central Trusteebank as at 31 March 1986 and the results of its operations for the year ended on that date, in accordance with section 43 (2) of the Trustee Banks Act 1983.

TOUCHE ROSS & CO., Chartered Accountants.

Hastings. 14 May 1986.

4640

GENERAL PUBLICATIONS

ELECTRICITY FOR MOTOR MECHANICS
N.Z. TECHNICAL CORRESPONDENCE INSTITUTE
256 p. 1986 reprint. Illustrated. $15.00 plus $2.00 p & p
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By Geoff Moss
46 p. 1982. Illustrated. $5.75 plus $1.50 p & p
Too often people find themselves having to speak in public, to train new employees, to teach various skills, or to give advice on arranging displays and exhibits without having had any relevant basic training. If you are such a person, this book was written to help in getting a message across more effectively by using visual aids.