New Zealand Gazette – 1986 – No. 168

Page 4504

✨ Financial Statements and Book Publications



4504
THE NEW ZEALAND GAZETTE
No. 168

Freehold land and buildings were written up to 90 percent of independent registered valuations as at 31 March 1986. Other capital work
in progress and leasehold properties are shown at cost.

The Bank's share of a property owning partnership is valued at 90 percent of an independent registered valuation. Last year it was shown
at cost price.

The latest government valuations of land and buildings dated from 1 July 1981, plus subsequent additions at cost, amount to $6,244,000
(1985, $5,743,000)

Capital commitments outstanding at 31 March 1986 amount to $65,000 (1985, $187,000).

NOTE 5: Taxation:

There is no taxation liability in respect of the current year. The charge for deferred taxation $999,122 consists of taxation payable in
future years on timing differences arising through the amortisation and sale of government securities $400,410 the increase in interest accrued
$259,490 and the effect of the reduction in tax credits carried forward $354,216 less other items $14,994. The prior year adjustment of
$224,026 is required to allow for the change in company tax rates to 48 cents from 1 April 1986.

STATEMENT OF SOURCE AND APPLICATION OF FUNDS

1986 1985
$000 $000
Funds were provided from:
Depositors 2,437 39,261
Operations
Profit after taxation and extraordinary items 765 912
Depreciation 487 464
3,689 40,637
Less grants paid 150 123
3,539 40,514
Repayments of:
Mortgages 21,510 16,194
Term loans 8,950 7,398
30,460 23,592
Net movement in Government and local authority securities 4,986 (16,646)
Increase in other liabilities and taxation provisions 3,839 889
$42,824 $48,349
These funds were invested in:
New advances: Mortgages 11,779 19,526
Term loans 6,855 11,599
18,634 31,125
Fixed assets 543 971
Current assets 23,647 16,253
$42,824 $48,349

This statement forms part of the financial statements.

AUDITORS' REPORT TO THE TRUSTEES OF TRUSTEEBANK OTAGO

We have obtained all the information and explanations that we have required. In our opinion proper accounting records have been kept
by the Bank so far as appears from our examinations of those records.

In our opinion, the financial statements give, using the historical cost method modified by the revaluation of land, buildings and property
investments, a true and fair view of the financial position of the Bank at 31 March 1986 and the results of its operations and the source
and application of funds for the year ending on that date.

DELOITTE, HASKINS & SELLS and
PEAT, MARWICK, MITCHELL & CO., Chartered Accountants.

Dunedin, 9 May 1986.

The notes and statement of source and application of funds form part of these financial statements.

6242

GENERAL PUBLICATIONS

He Kuri
Leon and Fran Hunia
12 pp. 1985. $2.95 plus 80c p & p
Illustrated by Dick Frizzell.

Ruku
Henare Everitt
16 pp. 1985. $2.95 plus 80c p & p
Illustrated by Robin Kahukiwa.

Te Tamaiti I Rere
Hirini Melbourne
16 pp. 1985. $2.95 plus 80c p & p
Illustrated by Christine Ross.

Te Tereina
Hirini Melbourne
16 pp. 1985. $2.95 plus 80c p & p
Illustrated by Dick Frizzell.

These books are distributed free to schools by the Department of
Education but are also available through the Government Printing
Office/Publishing for home use.

TE RANGATAHI
Elementary 1
131 pp. 1962. Revised Edition 1970. Reprinted 1972, 1973, 1974,
1977, 1980, 1984, 1986.
$12.95 plus $2.00 p & p
(Red cover). This book is for use in Form 3, Maori language studies.



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✨ LLM interpretation of page content

πŸ’° TrusteeBank Otago Profit Statement and Balance Sheet (continued from previous page)

πŸ’° Finance & Revenue
Financial Statements, Accounting Policies, Property Revaluation, Government Securities, Fixed Assets

πŸ’° Auditors' Report for TrusteeBank Otago

πŸ’° Finance & Revenue
9 May 1986
Auditing, Financial Statements, True and Fair View
  • Deloitte, Haskins & Sells, Chartered Accountants
  • Peat, Marwick, Mitchell & Co., Chartered Accountants

πŸŽ“ General Publications List

πŸŽ“ Education, Culture & Science
Books, Publications, Education, Māori Language
8 names identified
  • Leon Hunia, Author of 'He Kuri'
  • Fran Hunia, Author of 'He Kuri'
  • Henare Everitt, Author of 'Ruku'
  • Hirini Melbourne, Author of 'Te Tamaiti I Rere'
  • Hirini Melbourne, Author of 'Te Tereina'
  • Dick Frizzell, Illustrator of 'He Kuri'
  • Robin Kahukiwa, Illustrator of 'Ruku'
  • Christine Ross, Illustrator of 'Te Tamaiti I Rere'