Takapuna Club Has Small Profit

Sun (Auckland), Volume IV, Issue 1046, 9 August 1930, Page 12

Takapuna Club Has Small Profit

LAST SEASON’S RETURNS IMPROVEMENTS TO COURSE Tho report of the Taka puna Jockev Club, to bo presented at the annual meeting on Monday, August 18. state that during the year the spring and summer race meetings were held each extending over two days, the stakemoney paid away amounting to A-11,325. an average of slightly oVer A 2,830 a day. The profit and IOEal OEa account, after allowing for depreciation, showed a profit of £ISB lo s 2 d " which sum had been transferred to capital account. the year various imp rove . ments had been carried out at the race course, including renovating and nain.' ing all the buildings. The course wa« m exceptionally good order and condi tion. The committee deeply regretted to have to record the deaths of three highly-respected members of the club namely, Mr. J. Molloy, Mr. H. B. Phil-’ cox and Mr. C. Swanson, and extended to the widows and families of the deceased gentlemen its heartfelt syml pa thy in their bereavement. Under the rules of the club. thre« members of the committee retired bv rotation. As only three niminations had been reecived to fill the three vacancies, namely, Messrs. W. J Ralph, J. Mays and J. X. Heslop, these gentlemen would under the rules bt duly elected. FINANCIAL STATEMENT Tho balance-sheet shows that the revenue for the year was £30,319. The principal item was the totalisator receipts £15,784, of which sum the Government received £4.082, less refund £250, in the form of totalisator tax. Apart from this, the Government was paid £7,348 dividend tax, £SSS stakes tax and £l2l amusement tax. Gates, privileges, rents, etc., yielded £4,448, nominations and acceptances £1,970 and members’ subscriptions £2lO. Outside the payments to the Government, the principal items of expenditure were stakes £11,325, rates, taxes, interest and insurance £1,716, salaries and wages £1,G65, repairs and maintenance £938, and general expenses £909. After writing off £784 depreciation, there remained a balance of £ ISB. The assets are valued at £37,169, tho main item being freehold property, racecourse buildings, plant and stock, caretaker’s dwelling, fchortland Street offices and furniture, £35,800. On the liabilities side are mortgages £15,400. with accrued interest £369.