New Zealand Gazette – 1986 – No. 155

Page 4189

✨ Financial Statements



2 OCTOBER
THE NEW ZEALAND GAZETTE
4189

TARANAKI SAVINGS BANK

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1986

Income— Note 1986 $ 1986 $ 1985 $
Interest from:
Government securities 9,638,140 8,911,166
Mortgages 16,026,746 11,885,829
Personal loans 985,361 857,216
Other investments 7,590,793 2,056,808
Rents, commissions, fees etc. 1,227,823 1,150,806
Share of income of associate company 74,811 34,294
Profit on sale of property 123,972 —
35,667,646 24,896,119
Less Expenditure—
Interest to depositors 21,321,706 13,644,430
Administrative expenses 7,541,789 5,547,887
Trustees honoraria 34,491 28,625
Loss of sale of securities 988,471 992,309
Depreciation 1 470,351 398,990
30,356,808 20,612,241
Operating Profit— 5,310,838 4,283,878
Less taxation 6 1,410,000 1,900,000
Net profit for year 3,900,838 2,383,878
Less provision for donations 250,000 200,000
3,650,838 2,183,878
Add donations provision balance 46,647 535
Add reserve fund brought forward 9,327,555 7,143,142
Reserve fund as at 31 March 1986 $13,025,040 $9,327,555

BALANCE SHEET AS AT 31 MARCH 1986

Depositors'— Note 1986 $ 1986 $ 1985 $
Savings accounts 55,864,247 61,918,895
Cheque accounts 30,586,922 23,488,100
Term investment accounts 2 110,187,194 92,473,980
196,638,363 177,880,975
Current Liabilities—
Interest on term investment accounts 4,224,677 2,332,594
Sundry creditors 1,237,349 662,053
Provision for taxation 3 — 518,866
Total other current liabilities 5,462,026 3,513,513
Provision for Donations 250,000 200,000
Deferred taxation 3 1,030,832 1,307,350
Term Liability—
Housing Corporation of NZ 779,491 881,630
Reserve Fund 13,025,040 9,327,555
$217,185,752 $193,111,023
Current Assets— Note $ 1986 $ 1986 $ 1985 $
Cash resources 4 43,668,853 17,270,504
Accrued interest on investments 3,451,316 2,212,019
Sundry debtors 592,385 173,869
Taxation refund 3 99,293 —
Total current assets 47,811,847 19,656,392
Investments—
New Zealand Government stock 5 57,317,898 66,097,898
Less discount not yet amortised 1,017,704 611,499
56,300,194 65,486,399
Local authority stock at cost 116,238 158,623
Mortgages 92,842,665 90,169,200
Personal loans less unearned interest 6 5,290,792 5,265,616
Overdrafts 1,959,339 1,033,202
Trusteebank VISA 2,166,847 2,023,226
Trusteebank Computer Ltd. 7 1,732,941 841,380
Total investments 160,409,016 164,977,646
Fixed Assets— 8
Land 872,651 856,407
Buildings 6,051,664 5,748,482
Vehicles, office equipment and furniture 4,342,607 3,764,287
11,266,922 10,369,176
Less depreciation to date 2,302,033 1,892,191
Total fixed assets 8,964,889 8,476,985
$217,185,752 $193,111,023

The attached notes form part of and are to be read in conjunction with these accounts.

D. V. SUTHERLAND, J.P., President.
B. J. RUDD, J.P., General Manager.

H



Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1986, No 155


NZLII — PDF NZ Gazette 1986, No 155




✨ LLM interpretation of page content

💰 Profit and Loss Account for Taranki Savings Bank

💰 Finance & Revenue
Profit and Loss, Financial Statements, Taranki Savings Bank, 1986
  • D. V. Sutherland, J.P., President
  • B. J. Rudd, J.P., General Manager

💰 Balance Sheet for Taranki Savings Bank

💰 Finance & Revenue
Balance Sheet, Financial Statements, Taranki Savings Bank, 1986
  • D. V. Sutherland, J.P., President
  • B. J. Rudd, J.P., General Manager