ASHBURTON GAS COAL & COKE CO., LIMITED

Ashburton Guardian, Volume V, Issue 1324, 12 November 1885, Page 2

ASHBURTON GAS COAL & COKE CO., LIMITED

Th'i sevei-th an uai genera! m the shareholders o* the above Comfianr was held at >he Arcade Chan bet a ai 3 p «n. to-day There was a fair attendance and Mr Tnomm Bullock. Chairman of the Board .f Directors, occupied theohir.

The minutes of the last weo*-rs' meekinir 'bavin been read and confi-tnwd. the f u lowing Directora’ Report and Balance s <heet were road by the Heeretary, Mr Joseph Ward : directors’ kurort.

Tour Directors have pleasure in submitting their Annual Report and Balance Sheet, showing the operations of the Company for the past year, from which it will be observed that on account of the redaction In the price of gas, made in May last, there has been ■» slight fabing off in the revenue. Notwithstanding, the result will be very satisfactory to the shareholders, and the Directors hope that this redaction will be the means of increasing the number of consumers —The Profit and Loss Account, herewith annexed, shows a credit balance of L 1,165 18s 3d ; out of this, your Directors recommend a dividend at the rate of Lll per centum per annum on the paid-up capital, and that the sum of LIOO be added to the Reserve Fund,

and the balance, L 175 18s 3d, be carried I forward.—The Directors who retire in ac-1 cordance with the Articles of Association are Messrs T. Quill, R. W. Shearman, I and B. Fnedlander, who are eligible for | re-election.—The Auditor also retires, and is eligible for re-election. I Balance-Sheet. I Dr £ s. d I To capital paid up 8000 0 (11 „ debts due by Company... 136 10 II I „ reserve fund 400 0 0 I „ profit and loss 1155 18 3 £9692 9 21

Or £ s. d, £ s. d. By Freehold property 702 14 0 ~ plant and building 7352 7 6 j „ meters 710 0 4 . „ office furniture 56 0 9 „ debts due to Company ... 294 11 6 Less estimated discount for September 55 0 0 239 11 5 By coal in stock ... 62 6 4 „ Residuals ... 137 0 4 „ Union Bank and cash in hand ... 332 9 6

£9692 9 2 PROFIT AND LOSS ACCOUNT. Or £ s. d. To dividend at the rate of 11 per cent ... , ... 879 17 10 „ amount transferred to reserve fund 100 0 0 ~ balance of preliminary expenses written 'ff ... 50 0 0 „ amounts written off ... 36 19 4 ~ coal, lime, etc ... ... 763 1 1 ~ interest 15 13 0 „ salaries and wages, including Directors* and Auditors’ fees ... ... ... 608 10 0 „ oiSce expenses, including rent, petty cash, printing, etc 37 6 3 ~ rates and taxes 16 4 8 ~ balance ... 1165 13 3 £3663 10 6 Cr £ s. d By balance brought forward 1193 4 7 „ gas 23 -tl 3 2 ~ meter rents for y*ar ... 77 110 „ residuals, transfer fees, etc 92 0 10 £3663 10 6 RESERVE FUND. £ 8. d. By balance ... 400 0 0 CAPITAL ACCOUNT. Dr £ a. d. To capital subscribed —2,000 shares of L 5 each ... 10,000 0 4 £IO,OOO 0 0 Or £ a. d. By capital paid up ... 8000 0 0 „ uncalled capital 2000 0 0 * £IO,OOO 0 0 On the motion of the Chairman the Report and Balance Sheet were adopted. —lt was resolved that the dividend should be payable on and after Tuesday next. —The three retiring Directors, Messrs Quill, Shearman, and R. Friedlandor, and the Auditor, Mr George Jameson, were re elected.—Votes of thanks to the Directors, Manager, and Secretary were carried 'unanimously. The proceedings then terminated.