3

B.—l [Pt. IV].

CHEVIOT ESTATE ACCOUNT. Revenue Account for the Year ended 31st March, 1923. Or. £ a. d. Or. £ s. d. To Rents written oil .. .. .. 370 10 0 By Accrued rents .. .. .. 19,310 310 Overstatement in buildings written off 1 0 0 * Accrued rents duo from Territorial Remissions of rent .. .. 0 19 0 revenue .. .. .. 20 5 9 Rebates.. .. .. .. 787 510 Interest on investments .. .. 0,975 15 4 Management expenses of inscribed stock .. .. .. . . 85 17 5 Expenditure under section 300, Land Act, 1908 —Advertising .. .. 0 18 0 Administration expenses .. . . 949 9 5 Interest on inscribed stock. . .. 8,806 3 1 Sinking Fund Reserve Account ... 826 14 5 Not profit for year carried down .. 14,417 1 9 £20,312 4 11 £26,312 I II £ s. (1. £ s. d. To Balance.. .. .. .. 214,259 18 9 By Net profit brought down .. .. 14,417 I 9 Balance from previous years .. 199,842 17 0 £214,259 18 9 £214,259 18 9 Receipts and Payments Account for the Year ended 31st March, 1923. £ s. d. £ s. d. To Balance at Ist April, 1922 .. .. 173,839 12 10 By Refund of rent .. .. .. 0 6 0 Rents from leases. . .. .. 18,989 8 3 Expenditure under section 300, Land Interest on securities held by Invest- Act, 1908—Printing, &c. . . 018 0 incut Account .. .. .. 6,574 10 4 Expenditure under section 19, Land Laws Amendment Act, 1922 —Administration expenses .. .. 556 7 3 Interest on inscribed stock.. .. 8,800 2 0 Sinking fund .. . . .. 820 14 5 Management charges on stock .. 85 17 5 Balauco at 31st March, 1923— Cash in Public Account .. .. £7,427 5 10 Invest in cut Account .. .. 181,640 0 0 189,007 5 10 £1.99,403 11 5 £1.99,403 II 5 Balance-sheet as at 31st March, 1923. Liabilities. £ s. d. Assets. £ s. d. Inscribed slock under New Zealand Loans Laud .. .. .. .. 396,211 0 0 Act, 1908.. .. .. .. 253,318 0 0 Buildings .. .. .. .. 812 10 Interest due on inscribed stock .. 2,101 17 7 Postponed rents .. .. .. 97 4 0 Appreciation of Assets Reserve Account 124,073 0 0 Sundry debtors for rents.. £6,085 13 4 Sinking Fund Reserve Account .. 1,317 5 0 Less writings oil in SusRents paid in advance .. .. 114 11 7 pense .. .. 377 15 0 Sundry creditors .. .. .. 401 12 4 0,307 18 4 I Balance of Revenue Account .. .. 214,259 18 9 Sundry debtors for interest on investments 2,048 4 6 Sundry debtors, miscellaneous .. .. 48 14 9 Sinking fund .. .. .. 1,317 5 6 Cash in Public Account .. £7,427 5 10 Investment Account .. 181,640 0 0 189,007 5 10 £595,700 5 9 £595,706 5 9 J. P. Thompson, Under-Secretary for Lands. J. H. O'Donnell, Chief Accountant. I hereby certify that the Revenue 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, except that— (1.) No provision has been made for losses in value of land occasioned by floods. (2.) The Revenue Account includes rents payable in advance which do not belong to the period of such account. (3.) The accounts have been compiled from copies of Ohristohuroh journal entries sent to Head Office and Treasury cash figures, and the only assets verified are inscribed stock, accrued interest, sinking fund, and cash balance. J. H. Fowler, Deputy Controller and Auditor-General. Notes. —1. The value of the loss has since been ascertained, and will be provided for in 1923-24 accounts. 2. Rents for one year only have been included in the Revenue Account. They are all payable half-yearly in advance on various due dates, and it has not been the practice to apportion them. J. H. O'Donnell, Chief Accountant, Department of Lands.