93

H.—3o

The Poverty Bay Farmers' Meat Company (Limited). Balance-sheet as at 31st August, 1923. Liabilities. Assets. Nominal capital— £ s. d. £ s. d. Land, buildings, rolling-stock, railway- £ s. d. 100,000 shares at £5 each 500,000 0 0 siding, plant and machinery, motorSubscribed capital— vehicles, and steamer .. .. 618,441 18 2 20,689 ordinary shares Office furniture .. .. .. 609 13 4 8,086 preference shares Stocks and stores .. .. .. 9,830 7 1 3,082 preference "B" Consignments .. .. .. 12,759 19 5 shares Advances to clients .. .. .. 3,949 13 8 28,971 shipping shares Hydro-electric Engineering Company .. 3,950 0 0 Bills receivable .. .. .. 15,235 6 0 60,828 shares at £5 each 304,140 0 0 Sundry debtors .. .. .. 3,090 10 7 Less uncalled capital— " Admiral Codrington " : General average 3,782 shares at £2 15s. 10,400 10 0 and claims outstanding .. .. 2,469 14 6 " Admiral Codrington " : Running Ac--293,739 10 0 count .. .. .. .. 10,363 12 10 Profit and loss balance .. .. 2,165 6 7 Less calls in arrears .. 20,299 11 2 Paid-up capital .. .. .. 273,639 18 10 Loan on mortgage .. .. .. 25,000 0 0 Government debenture . . .. 7,000 0 0 Secured creditors .. .. . . 60,000 0 0 Advances against produce and consignments .. .. .. .. 7,385 2 3 Unclaimed dividends .. .. .. 97 19 0 Accruements .. .. .. .. 3,650 0 5 Sundry creditors .. .. .. 304,913 7 8 Bills payable .. .. .. 1,179 14 0 £682,866 2 2 £682,866 2 2 Profit and Loss Account for Twelve Months ending 31st August, 1923. £ s. d. £ s. d. To Balance brought forward .. .. 770 15 11 By Freezing sales, manufactures, &c. .. 18,164 8 5 Rates, insurance, taxes, interest, &c. 14,216 9 0 Rents, discounts, &e. .. .. 514 0 1 Expenses of management, audit fees, Transfer fees .. .. .. 12 6 &c. .. .. .. .. 3,665 7 2 Balance forward .. .. .. 2,165 6 7 Imperial Government Supplies Department .. .. .. .. 2,192 5 6 £20,844 17 7 £20,844 17 7 W. Douglas Lysnar, Chairman of Directors. Geo. Witters, A. McLellan, Director. Managing Secretary. APPENDIX J. BALANCE-SHEET, AUGUST, 1923. £ £ Liabilities .. .. .. .. .. .. .. .. 683,000 Deduct: Capital .. .. .. .. .. £259,000 „ Mortgage on steamer .. .. .. .. 60,000 — 339,000 364,000 Assets.. .. .. .. .. .. .. .. .. 683,000 Deduct: Steamer .. .. .. .. .. £397,213 ~ Profit and loss .. .. .. .. 2,165 „ B/C.s re calls .. .. .. .. .. 14,200 413,600 270,000 Deficiency .. .. .. .. .. .. 94,000 Received for works in excess of Balance-sheet figures, about .. .. .. .. 4,000 Deficiency .. .. .. .. .. .. £90,000 With unpaid capital of — £ B/C.s as above .. .. .. .. .. .. .. 14,200 Uncalled .. .. .. .. .. .. .. 10,400 Unpaid .. .. .. .. .. .. .. 20,300 45,000 Deficit .. .. .. .. .. .. .. £45,000 after writing off total subscribed Capital £304,000 paid and unpaid, and treating unpaid as value for 20s. in the pound and other assets also at 20s. in the pound. £ From assets .. .. .. .. .. .. 270,000 Deduct works .. .. .. .. .. 221,000 Balance liquid assets .. .. .. .. £49,000 from which amount recovered and amount expected totals less than 10s. in the pound after allowing for the fact that they received over £3,000 more for the works than balance-sheet value.