FULLER, HAYWARD PICTURES, LTD.

Sun (Auckland), Volume III, Issue 702, 29 June 1929, Page 12

FULLER, HAYWARD PICTURES, LTD.

A SATISFACTORY YEAR A satisfactory year is recorded in the annual reports of Fuller’s Pictures, Ltd., and Hayward's Pictures, Ltd., which operate in conjunction with New Zealand Picture Supplies, Ltd., and have a working agreement by which expenditure and revenue are equalised. Each made a net profit of £9,471 2s Od during the 12 months ended April 10, as against £9,219 19s 4d in the previous year. The balance brought forward from last year was, in each case, £615 12s 7d, so that sums of £10,086 14s 7d are available for appropriation. Interim dividends of 4 per cent, were paid to shareholders last November, each absorbing £4,135, and the directors now recommend payment of a final dividend of 5 per cent., each absorbing £5,16S 15s Od, leaving balances of £782 19s 7d to be carried forward. The directors state that seven further theatres acquired in various parts of the country will considerably increase the earning power of the twin companies. The directors are permanently appointed under the companies’ articles. The assets of Fuller’s Theatres. Ltd., are set down at £125,664, consisting of the following items: General equipment, goodwill and share interests in New Zealand Picture Supplies. Ltd., £100,836 (as against £103.510 last year); sundry debtors, £13,5966 (£10.763): investments in other companies, £11,232 (£11,082). The company’s liabilities include the following items: Paid-up capital. £103,375: sundry creditors, £1,173 (£1,053): reserve account. £15.000. The balance sheet total is £309 more than last year. The assets of Hayward’s Pictures, Liu., are shown as £125,699, made up as follows: General equipment, goodwill and share interests in New Zealand Picture Supplies. Ltd., £108,630 (£108,692); sundry debtors, £5,800 (£5,583); investments in other companies. £11.269 (£11,119). The liabilities include paid-up capital, £103,375; sundry creditors, £1,009 (£897): reserve account. £15.000. The balance sheet total is £305 more than last year.