DAIRY FINANCES.

Waikato Times, Volume 121, Issue 20277, 20 August 1937, Page 9

DAIRY FINANCES.

THE BALANCE-SHEET. SOUND POSITION DISCLOSED. DETAILS AND COMPARISONS.

The balance-sheet tabled at the annual meeting of the New Zealand Cooperative Dairy Company, Limited., L dav, disclosed that shares to a paidup' value of £35,807 were resumed during the year. _ Nominal capital stood at £1,500,000 and unallotted shares at £107,634. Total paid-up capital amounted to £1,296,263, a decrease of £4307 due to the increase In share resumptions. Reserves totalled £64,816, an increase of £267, while the insurance reserve was £6306, which was unchanged since the amalgamation. The. suppliers’ contra account stood at £71,903, a decrease of £4321. Sundry creditors were owed £215,397, a decrease of £5999. Sundry depositors were shown at £63,062, a decrease of £3109. The amount owing to subsidiary companies was £10,912, representing a decreaso of £14,087. Land and Buildings. Land and buildings less depreciation and including additions during tho year were valued at £479,503 ‘compared with £470,218 last year. The value of plant was reckoned at £442,999 as against £425,486. Showing an increase of £48,000, shares in subsidiary companies at cost totalled £202,993. Shares in other companies were £143,414, a decrease of £9820. The valuo of stocks held with comparisons for last year in parentheses was as follows: —Butter, £813,555 (£724,856). Cheese. £138,476 (£lO-8,-314). Casein, £6495 (£5477). Other produce, £45,026 (£14,951). Requisites of manufacture, £106,27G (£74,149). Trading, £2328 (£1717). Total, £1,112,159 (£929,467). Butter Department. Dealing with the operations of the butter department, the accounts showed that advances to suppliers totalled £4,685,256 as against £3,759,388 lasi year, an increase of £925,567. Butterfat Increased by 6,291,783 lbs. The average advance price was 11.9 47 Id as against 10.273 Id last year. Cream collection cost £113,435, ail increase of £27,205. Wages rose from £66,086 to £89,232. Materials amounted to £204,996, an Increase of £57,860. Fuel cost, £11,394 while power cost £9872, an increase over last year of £865. Laboratory and sundry factory expenses were £18,192, a decrease of £4489. Depreciation totalled £ 13,443, representing a decreaso ol’ £622, but repairs and maintenance at £59,603 showed an increase of £20,2 40. Cartage and railage totalled £71,568, an increase of £5724 Other Higher Costs. Due to on Increased output of £3051 tons and increased rales, freezing and storage at £68,979 was an increase of £12,163 over last year. Grading costs of £7850 were increased by £SSO duo to tlie increased amount graded. The Dairy Board levy of £14,872 was a decreaso of £3385 on the previous year. Administration and offlco expenses increased from £25,093 to £28,298, the cost per lb. butterfat being .0721 d this year as against .OGSGd last year. Farm dairy instruction this year cost £3423, representing .00S7d per lb. butterfat. Sales and stocks, both export and local, realised £5.990,536, an increase of £843,564 on last year. Buttermilk sales Increased from £3140 to £4591 while milk and cream sales were only £10,697, a decrease of £21,139, owing to the removal of the condensorv from ; Wait <ni. Rent, interest and dividends were shown at £59,572, an increase of ! £29,905. All-in Cost to F. 0.8. The all-in cost, of manufacture lo 1 r. 0.1). was Lit 19s ill, as against III) (Is 3.i11. Km* the purpose ol 1 making a correct comparison the ; 1935-1936 cost lias been based on the 5 Dairy Account Regulations. Under the previous lay-out the 'figures would bo ' £lO 15s 5.9 d for last season and £9 8s 9.1 d for the previous year. ' The Cheese Department. The figures showed that payments for cheese factories ranged from is , 2.3202 dto Is 3.5182 d, and excluding i East Tamaki is 5.3023 d overall. The - average overall including town sales 5 was 15.3538 d; excluding town sales, 15.03i5d; excluding East Tamaki, ala together 15.0054 d. The cheese costs v last season in comparison with other seasons, Including cost of manufacture and place, f.o.b. per ton of cheese excluding East Tamaki and Malang wore as follows: —1932-33, £lO 5s * nd; 1933-34, £lO 0s 3d; 1934-35 ' £lO 0s 7d ; 1935-36, £9 19s 9d ; 193037, £ll 5s 7d. Casein Accounts. Advances to suppliers in I lie caseii department, totalled £23,520, an in* a.Dance was lid while the siirplu: I was |.302t t l. Wages in the casein de I £l2Bl. while materials cost £4138 ! Enel was £1993. while power increase! | by £135 to £2302 owing I" an iucrcasi I of 32 3 tons of casein at Franklou. j \ ear.' Depreciation was £ll3l, an in crease of £i9, while repairs am maintenance showed an increase o £573 lo £2453. Cartage and railag ji■ 11 sl £39 19. an increase of £lO4 1. du ,lo Hie increased output. Adminislra Increased Gross Turnover. S I.». ,8.;»I3 containers h ..:! Dp. •gainst 2.33 ;.oi I hiS| >, I s ;.>3 *." ,2 superficial led of UmilmT ..