✨ Financial Statements
18 SEPTEMBER
THE NEW ZEALAND GAZETTE
3983
TRUSTEEBANK WANGANUI
BALANCE SHEET AS AT 31 MARCH 1986
| 1986 | 1986 | 1986 | 1985 | |
|---|---|---|---|---|
| $ | $ | $ | $ | |
| Depositors Funds— | ||||
| Customers accounts . . | 83,787,849 | 76,449,561 | ||
| Housing bonds . . | 7,643,000 | 7,807,000 | ||
| 91,430,849 | 84,256,561 | |||
| Current Liabilities— | ||||
| Accrued interest to depositors | 1,765,797 | 1,289,052 | ||
| Provision for donations | 35,300 | 32,560 | ||
| Sundry creditors . . | 368,136 | 502,257 | ||
| Provision for taxation (note 6) | — | 475,367 | ||
| 2,169,233 | 2,299,236 | |||
| Term liabilities— | ||||
| Housing Corporation of New Zealand | 140,520 | 165,384 | ||
| Provision for deferred taxation (note 7) | 855,243 | 653,419 | ||
| 995,763 | 818,803 | |||
| Reserve fund— | ||||
| Retained earnings . . | 3,178,733 | 2,512,544 | ||
| Property revaluation reserve (note 8) | 457,342 | 562,465 | ||
| 3,636,075 | 3,075,009 | |||
| $98,231,920 | $90,449,609 |
| 1986 | 1986 | 1985 | |
|---|---|---|---|
| $ | $ | $ | |
| Current Assets— | |||
| Cash and short term funds . . | 18,524,171 | 11,254,256 | |
| Interest accrued on investments . . | 1,682,885 | 1,338,778 | |
| Sundry debtors and prepayments . . | 942,988 | 1,055,015 | |
| Tax refund due (note 6) | 133,009 | — | |
| 21,283,053 | 13,648,049 | ||
| Investments— | |||
| Government stock (note 4) . . | 24,762,235 | 28,263,742 | |
| Loans and advances . . | 48,528,271 | 46,163,340 | |
| Associate company (note 5) | 1,523,941 | 841,380 | |
| 74,814,447 | 75,268,462 | ||
| Fixed assets: (note 9) | 2,134,420 | 1,533,098 | |
| $98,231,920 | $90,449,609 |
To be read in conjunction with the statement of accounting policies and the notes to the accounts which form part of the financial statements.
STATEMENT OF PROFIT AND RESERVES FOR YEAR ENDED 31 MARCH 1986
| 1986 | 1986 | 1985 | 1985 | |
|---|---|---|---|---|
| Income— | $ | $ | $ | $ |
| Total interest income | 15,432,958 | 11,853,825 | ||
| Other income | 685,412 | 420,197 | ||
| 16,118,370 | 12,274,022 | |||
| Less expenditure— | ||||
| Total interest expenses . . | 10,222,899 | 6,969,772 | ||
| Administration expenses | 4,345,732 | 3,988,816 | ||
| Trustees fees | 32,013 | 25,393 | ||
| Audit fees . . | 17,934 | 12,146 | ||
| Depreciation | 255,696 | 159,956 | ||
| 14,874,274 | 11,156,083 | |||
| Net operating profit before taxation . . | 1,244,096 | 1,117,939 | ||
| Share of profits associate company (note 5) | 74,811 | 19,263 | ||
| Less taxation expense (note 6) . . | (573,855) | (491,724) | ||
| Net profit after taxation . . | 745,052 | 645,478 | ||
| Provision for donations . . | (35,300) | (32,560) | ||
| Extraordinary item (note 7) | (43,563) | — | ||
| 666,189 | 612,918 | |||
| Reserves opening balance | 3,075,009 | 2,328,178 | ||
| Changes to reserves | (105,123) | 133,913 | ||
| Total Reserves | $3,636,075 | $3,075,009 |
To be read in conjunction with the statement of accounting policies and the notes to the accounts which form part of the financial statements.
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VUW Te Waharoa —
NZ Gazette 1986, No 145
NZLII —
NZ Gazette 1986, No 145
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