B.—l [Pt. 11l

DEPARTMENT OF AGRICULTURE— continued. NAURU AND OCEAN ISLANDS ACCOUNTS. Capital Receipts and Payments Account for the Year ended 31st March, 1922, Receipts. £ s. d. Payments. To Balance as at Ist April, 1921 .. 34,900 0 0 By British Phosphate Commission, as £ s. d. part working capital .. .. 8,000 0 0 Legal expenses consequent on transfer from vendor company .. .. 157 0 5 Balance as at 31st March, 1922 .. 20,802 19 7 £34,960 0 0 £34,960 0 0 Tradinu Account for the Year ended 31st March, 1922, Dr. £ s. cl. Or. £ s. cl. To Purchase of phosphate .. .. 59,984 411 By Sales of phosphate .. .. 113,194 811 Administration oharges .. .. 1,131 14 4 ' Brokerage- .. .. .. 366 19 7 Agent's commission .. .. 1,609 13 8 Freight on cargoes . . . . 48,931 10 6 Landing-charges .. .. .. 123 10 10 General expenses.. .. .. 139 15 0 Insurance .. .. .. 321 5 0 Net profit on Trading Account .. 1,319 14 3 £113,561 8 6 £113,561 8 6 [nteeest Account fob the Year ended 31st March, 1922. Dr. £ s. d. Or. £ s. cl. To Interest on debentures .. .. 30,000 0 o By Interest on investments .. .. 195 4 3 Balance of interest .. .. .. 4,692 9 2 Interest, British Phosphate Commission 34,497 411 £34,692 9 2 £34,692 9 2 Balance-sheet as at 31st .March, 1922. Liabilities. A ssetd. Capital—Debentures 1-12, issued Ist £ s. d. Share (of 16 per cent.) in Nauru and £ s. d. December, 1920, under the Finanoe Ocean Islands .. .. .. 579,197 0 5 Act, 1920, maturing Ist December, . Sundry debtors— £ s. d. 1925. Interest 5 per cont., payable- On account of interest 41,070 4 1 Ist June, Ist December . . . . 600,000 0 0 On account of trading 863 9 4 Sundry creditors— 41,933 13 5 British Phosphate Com- Cash in Public Account .. .. 24,884 7 9 mission, for working £ s. d. capital .. .. 14,000 0 0 Other creditors .. 8,601 6 1 22,601 6 1 Interest accrued on debentures .. 9,863 0 0 Balance of Trading Ac- £ s. cl. count at Ist April, 1921 362 5 10 Net profit on Trading Account for year .. 1,319 14 3 1,682 (I I. Balance of Interest Account at Ist April, 1921 992 7 1 Add Interest Reserve Account .. .. 4,237 16 0 Accumulated during year 4,692 9 2 9,922 12 3 Sinking Fund Account .. .. 1,946 3 2 £646,018 1 7 j. £646,015 1 7 Department of Agriculture, 17th August, 1922. A. R. Stone, For Director-General. 1 hereby certify that the Capital Receipts and Payments Account, Trading and Interest Account, and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and. correctly state the position as disclosed thereby.—G. P. C. Campbell, Controller and Auditor-General.

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