B.—l [Pt. IV].

30

FRUIT-PRESERVING INDUSTRY ADVANCES ACCOUNT— continued. (DEPARTMENT OF AGRICULTURE)—continued. Revenue Account for Seven Months ended 31st October, 1922. Dr. £ s. d. Cr. £ s. cl. To Interest on debentures .. .. .. 1,736 18 6 By Interest on advances .. .. .. 1,751 4 3 Interest on advances from Consolidated Fund.. 41 14 5 Interest and rent on realization of Expenses of realization of assets— £ s. d. assets— £ s. d. Evaporators (of N.Z.) Ltd. .. 47 13 0 Evaporators (of N.Z.) Ltd. ..50 7 0 Nelson District Fruit-packers (Ltd.) 34 4 7 Nelson District Fruit-packers (Ltd.) 35 3 1 New Zealand Cool Stores (Ltd.) ..330 85 10 1 85 0 7 Balance .. .. .. .. .. 1,512 4 0 Administration charges .. .. .. 87 11 3 Sinking Fund reserve .. .. .. 132 10 4 Reserve for bad and doubtful debts .. .. 103 1 6 Reserve for losses on realization .. .. 1,126 18 6 Interest concessions .. .. .. 35 3 3 £3,348 18 4 £3,348 18 4 Balance-sheet as at 31st October, 1922. Liabilities. £ 6. d. [ Assets. £ s. d. £ s. d. Debentures .. .. .. .. 60,010 0 0 i Advances under the Act.. .. 00,417 16 8 Advances from Consolidated Fund .. .. 1,589 710 Less repayments .. .. 6,054 16 10 Sundry creditors .. .. .. .. 1,038 17 11 Interest accrued—■ £ b. d. 54,362 19 10 On debentures .. .. 243 10 5 Less reserve for bad and doubtful On advances from Consolidated Fund 323 8 9 debts .. .. .. 3,097 18 10 506 19 2 51,205 1 0 Treasury liability .. .. .. .. 434 18 1 Realization Account — Rent accrued .. .. .. .. 17 12 9 Land and buildings .. .. 9,009 13 7 Sinking Fund Reserve Account .. .. 267 6 5 Taken over since Ist April, 1922 4,038 15 0 13,108 8 7 Joint-and-several guarantee .. 1,000 0 0 14,108 8 7 Less realized, £17 14s. 6d. ; less reserve for losses on realization, £6,242 Is. 2d. .. .. 6,259 15 8 7,848 12 11 Interest accrued on advances .. .. 452 13 10 Sundry debtors— Interest .. .. .. 333 13 7 Sundries .. .. .. 34 17 7 368 11 2 Prepaid insurances .. .. .. 33 19 1 Treasury Account —Sinking Fund .. 134 16 1 Cash in Public Account .. .. .. 3,710 3 7 Revenue Account balance Ist April, 1922 .. .. .. 8,199 0 6 Add loss to 31st October, 1922 .. 1,512 4 0 9,711 4 6 £73,525 2 2 £73,525 2 2 i = i i • f\ut A. R. Stone, For Director-General, Department of Agriculture. I hereby certify that the balance-sheet and Revenue Account have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. In the opinion of the Audit Office, however, the asset " Joint-and-several guarantee, £1,000," appears to be of no value, and the reserve should be increased accordingly. —G. F. C. Campbell, Controller and Auditor-General.