✨ TrusteeBank Otago Financial Statements
4502
THE NEW ZEALAND GAZETTE
No. 168
TRUSTEEBANK OTAGO
PROFIT STATEMENT FOR THE YEAR ENDED 31 MARCH 1986
| 1986 | 1985 | |
|---|---|---|
| $000 | $000 | |
| Income: | ||
| Interest on deposits | 6,450 | 2,872 |
| Government Securities .. | 10,118 | 8,428 |
| Local Authority Securities | 56 | 37 |
| Mortgages .. | 19,413 | 15,528 |
| Personal loans | 3,977 | 2,929 |
| 40,014 | 29,794 | |
| Realised profit (loss) on sale of investments | 44 | (35) |
| Rents | 406 | 282 |
| Commission and other income | 784 | 668 |
| 41,248 | 30,709 | |
| Less Expenditure: | ||
| Interest on depositors accounts | 29,345 | 20,820 |
| Audit fees | 36 | 39 |
| Trustees fees | 41 | 28 |
| Administration expenses | 9,351 | 7,719 |
| Depreciation | 487 | 464 |
| Total expenses | 39,260 | 29,070 |
| Profit Before Taxation: | 1,988 | 1,639 |
| Taxation—deferred (note 5) | 999 | 727 |
| Profit After Taxation and before Extraordinary Items: | 989 | 912 |
| Extraordinary items—deferred tax prior years (note 5) | 224 | .. |
| Profit After Taxation and Extraordinary Items: | 765 | 912 |
| Less provision for grants | (150) | (150) |
| Add provision for grants not allocated | 2 | .. |
| Add retained earnings brought forward | 7,800 | 7,036 |
| Retained earnings 31 March 1986 | $8,415 | $7,800 |
BALANCE SHEET AS AT 31 MARCH 1986
| 1986 | 1985 | |
|---|---|---|
| $000 | $000 | |
| Depositors Accounts: | ||
| Savings, H.I.T. and current accounts | 110,212 | 100,326 |
| Investment accounts and term deposits | 131,094 | 118,228 |
| Wholesale deposits | 1,000 | 21,315 |
| Total Liability to Depositors | 242,306 | 239,869 |
| Other Liabilities: | ||
| Interest accrued on depositors accounts | 7,934 | 5,738 |
| Sundry creditors | 1,077 | 657 |
| Total other liabilities | 9,011 | 6,395 |
| Provisions: | ||
| Provision for grants | 150 | 150 |
| Provision for deferred taxation | 4,583 | 3,360 |
| 4,733 | 3,510 | |
| Reserve Fund: | ||
| Retained earnings | 8,415 | 7,800 |
| Property revaluation reserve (note 2) | 5,677 | 4,413 |
| 14,092 | 12,213 | |
| $270,142 | $261,987 | |
| Current Assets: | ||
| Cash, bank balances and call deposits | 14,106 | 14,872 |
| Short term deposits | 31,305 | 8,938 |
| Interest due and accrued on investments | 7,280 | 5,240 |
| Sundry debtors | 319 | 326 |
| Personal advances | 4,190 | 4,177 |
| 57,200 | 33,553 | |
| Investments: | ||
| New Zealand Government securities (note 3) | 85,843 | 90,990 |
| Local authority securities (note 3) | 553 | 392 |
| Mortgages | 99,993 | 109,724 |
| Personal loans (Less unearned interest) | 14,501 | 16,607 |
| Shares and notes (at cost) | 18 | 18 |
| Property investment (note 4) | 1,483 | 1,053 |
| Total investments | 202,391 | 218,784 |
| Total of current assets and investments | 259,591 | 252,337 |
| Fixed Assets (Note 4): | 10,551 | 9,650 |
| $270,142 | $261,987 |
R. R. ALLEN, President.
P. R. GEORGE, General Manager.
The notes and statement of source and application of funds form part of these financial statements.
Next Page →
PDF embedding disabled (Crown copyright)
View this page online at:
VUW Te Waharoa —
NZ Gazette 1986, No 168
NZLII —
NZ Gazette 1986, No 168
✨ LLM interpretation of page content
💰 TrusteeBank Otago Profit Statement and Balance Sheet
💰 Finance & RevenueFinancial Statements, Profit, Balance Sheet, TrusteeBank Otago
- R. R. Allen, President
- P. R. George, General Manager