2 NOVEMBER NEW ZEALAND GAZETTE 5593

Society for Promotion of

Community Standards Inc.

Indecent Publications Tribunal Application

I, Society for Promotion of Community Standards Inc. give
notice that I have applied to the Indecent Publications Tribunal
for a decision as to whether the books described below are
indecent or not or for a decision as to their classification.

Title ... Publisher
Linx, Nos. 5, 6, 7 ... NZ Swing Club
Taboo, Issues 1, 3, 5 ... Taboo Magazine
gn20703

Westland Bank Community

Trust

Trustee Banks Restructuring Act 1988

Financial Statements for Period Ending 31 March 1989

Audit Report

We have audited the financial statements in accordance with
accepted auditing standards, and have carried out such
procedures as we considered necessary.

In our opinion, the financial statements are properly drawn up
and show a true and fair view, on a historical cost basis, of the
financial position of the trust as at 31 March 1989 and income
and expenditure for the period ended on that date.

CAMPBELL & ASSOCIATES.

Westport, New Zealand.

Income and Expenditure

$
Income—
Interim dividend ... 50,000
Interest received ... 2,292
Sundry income ... 100
52,392

Less expenditure—
Tolls ... 22
Photocopying ... 451
Postage ... 60
Catering ... 186
Hall hire ... 53
Advertising ... 42
Trustee travelling expenses reimbursed ... 1,993
2,807

Excess income over expenditure ... 49,585
Grants—
Disbursed ... 10,000
Committed ... —
Retained surplus ... $39,585

Balance Sheet as at 31 March 1989

$
Assets—
Accrued interest ... 275
Westland Bank deposits ... 40,000
Investments—Westland Bank ... 2,000,000
$2,040,275

Liabilities—
Westland Bank cheque account ... 690
Accumulated fund ... 2,000,000
Retained surplus ... 39,585
$2,040,275

J. W. STOTT, Chairperson.

J. F. KEENAN, Trustee.

Notes to the Financial Statements for the Period Ended 31 March 1989

1. Statement of Accounting Policies

The Westland Bank Community Trust ("the trust") was
formed on 30 May 1988 through the creation of a trust deed in
compliance with the Trustee Banks Restructuring Act 1988.
Under the terms of the trust deed the trust was settled with
2 000 000 $1 fully paid shares in Westland Bank Limited
representing 100 percent of the issued capital of the bank.

General Accounting Policies

The measurement base adopted is that of historical cost.
Reliance is placed on the fact that the trust is a going concern.
Accrual accounting is used to match income and expenditure.

Particular Accounting Policies

Investments—Investments are valued at cost price.

Committed Grants—Committed grants are the amounts
estimated to be disbursed to charitable organisations after
providing for any expenditure expected to be incurred in the
near future.

Dividends—Dividends are recognised as income when they
are received by the trust.

Changes in Accounting Policies

As the trust is in its first year of operation, there are no
changes to accounting policies and as such comparatives are
not provided.

2. Investments

The trust owns an investment of 2 000 000 $1 fully paid
shares consisting of 100 percent of the ordinary share capital
of Westland Bank Limited.

3. Grants Disbursed

Grants were disbursed to the following organisations:

West Coast Flood Relief Fund ... $10,000

gn20481

PUBLISHED BY AUTHORITY OF DEPARTMENT OF INTERNAL AFFAIRS:
V. R. WARD, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1989

ISSN 0111-5650
Price $3.00 (inc. G.S.T.)