New Zealand Gazette – 1986 – No. 155

Page 4188

✨ Financial Statements

THE NEW ZEALAND GAZETTE

NO. 155

TRUSTEEBANK CANTERBURY

BALANCE SHEET AS AT 31 MARCH 1986

	Note	1986 $000	1985 $000
Current Assets—
Cash resources		82,435	44,809
Interest accrued on investments		13,373	6,974
Accounts receivable		1,851	737
Taxation refund due		925	941
		98,584	53,461
Investments—
Government securities	2	234,359	258,967
Local authority securities	3	8,327	8,004
Mortgages and term loans		332,307	314,671
Personal loans (less unearned interest)		31,922	26,717
Other advances	4	13,451	9,269
Other investments		4,139	916
		624,505	618,544
Fixed Assets	5	33,186	32,811
		$756,275	$705,216

| | | | |
| Depositors' balances| | 690,584 | 653,751 |

| Current Liabilities—| | | |
| Interest accrued on depositors' accounts | | 22,319 | 17,790 |
| Provision for grants | | 375 | 450 |
| Accounts payable | | 3,128 | 2,698 |
| Deferred Taxation | 1 | 9,424 | 5,949 |
| Reserves— | | | |
| Retained earnings | | 21,396 | 19,042 |
| Property revaluation reserve | 6 | 9,049 | 5,336 |
| | | 30,445| 24,378|
| | | $756,275| $705,216|

PROFIT STATEMENT FOR THE YEAR ENDED 31 MARCH 1986

	1986 $000	1985 $000
Income—
Government securities	31,893	29,352
Local authority securities	1,023	1,164
Mortgages, personal loans and term loans	65,065	46,380
Other investments	15,119	5,936
Rents, commissions, fees, etc.	5,289	2,522
	118,389	85,354

| Less expenditure— | | | |
| Interest to depositors | | 83,503 | 55,508 |
| Audit fee | | 56 | 42 |
| Leasing charges | | 891 | 930 |
| Trustees honoraria | | 53 | 43 |
| Administration expenses| | 23,042 | 19,770 |
| Depreciation | | 3,723 | 2,768 |
| | | 112,168| 79,061|

| Operating profit | | 6,221 | 6,293 |
| Less taxation | 1 | 2,903 | 2,651 |
| Net profit for year before extraordinary items | | 3,318 | 3,642 |
| Less extraordinary items| 8 | 589 | — |
| Net profit for year after extraordinary items | | 2,729 | 3,642 |
| Add retained earnings brought forward | | 19,042 | 15,850 |
| Less provision for grants | | 375 | 450 |
| Retained Earnings 31 March 1986 | | 21,396 | 19,042 |

B. R. SHACKEL, President.
F. DICKSON, General Manager.

Christchurch, New Zealand, 29 April 1986.

AUDITORS' REPORT

We have examined the accompanying balance sheet, profit statement and statement of changes in financial position of Trusteebank Canterbury and have obtained all the information and explanations we have required.

We are of the opinion that the balance sheet and accounts give on an historical cost basis, adjusted by revaluation of certain assets, a true and fair view of the state of affairs of the bank as at 31 March 1986 and of the results of its business and of the changes in its financial position for the year ended on that date.

PEAT, MARWICK, MITCHELL & CO.,
Chartered Accountants.

Christchurch, New Zealand, 1 May 1986.

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VUW Te Waharoa — NZ Gazette 1986, No 155

NZLII — NZ Gazette 1986, No 155

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

💰 TrusteeBank Canterbury Balance Sheet as at 31 March 1986

Domain💰 Finance & Revenue
Dated29 April 1986
KeywordsBalance Sheet, Financial Statement, TrusteeBank Canterbury, 1986
👩‍💼 Officials

B. R. Shackel, President
F. Dickson, General Manager

💰 TrusteeBank Canterbury Profit Statement for the Year Ended 31 March 1986

Domain💰 Finance & Revenue
Dated29 April 1986
KeywordsProfit Statement, Financial Statement, TrusteeBank Canterbury, 1986
👩‍💼 Officials

B. R. Shackel, President
F. Dickson, General Manager

💰 Auditors' Report for TrusteeBank Canterbury

Domain💰 Finance & Revenue
Dated1 May 1986
KeywordsAuditors' Report, Financial Statement, TrusteeBank Canterbury, 1986
👩‍💼 Officials

PEAT, MARWICK, MITCHELL & CO., Chartered Accountants

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