N.Z. FARMERS' CO-OPERATIVE DISTRIBUTING CO., LTD.

Shannon News, 24 November 1925, Page 3

N.Z. FARMERS' CO-OPERATIVE DISTRIBUTING CO., LTD.

THE LATEST BALANCE SHEET. The annual report and statement of accounts for the above Company has just been issued, and discloses a very satisfactory return for the year's operations as well as -a marked improvement in the Company's position. Heviewing the figures for the 13 months ending 30th September last, the turnover shows an increase of £131,591 (excluding land sales). A very pleasing feature is the fact that-while S ross profits have increased toy £3593 10s 4d, working expenses are less toy £4,784 15s 6d. After writing £SOO off the Property Account, and making ■ substantial'provision for toad and doubtful accounts, also for" depreciation on plant and stocks and (buildings, the profit and loss account "shows a nett profit of £5,074 10s 2d. Capital account stands at £163,690 Igfi 9d, an increase'from last year of £25,575. Other liabilities show very substantial decreases, and the followin"- comparative lahle of the Company's liabilities in 1923 and at "the ipresent time, shawld hearten the shareholders regarding the improved stability of their co-operative concern: 1923. 1925. £ £ Bank-overdraft 55,036 21,359 Deposits ... ... 20,141 15,272 Debentures 9.830 7,094 Sundry creditors (including amounts reserved for Shareholders rebates and interest, on calls paid in advance ... 34,582. 27,271 Hills payable 428

£120,017 £70,990 This shows decreases in Bank overdraft of £33,677, deposits £4869, dobentuiv.s £2736, sundry creditors £7311, bills payable £428, total improvement £49,021