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FRUIT-PRESERVING INDUSTRY ADVANCES ACCOUNT. Statement op Liabilities and assets as at 31st March, 1928. Liabilities. £ s. d. £ s. d. Assets. £ s. d. Sundry loans .. .. .. 69,598 14 3 Investment Account—Principal owing by mortLess loan liability redeemed and gagors .. .. .. .. 42,183 14 5 discharged from Consolidated Properties acquired .. .. .. .. 4,212 8 6 Fund .. .. .. 6,008 14 3 Temporary advances to Settlers Branch .. 16,290 0 0 Sinking Fund investments held by Public Debt 63,590 0 0 Redemption Fund .. .. .. *716 15 2 Less loan liability redeemed by Interest on mortgages— £ s. d. Public Debt Repayment Ac- Overdue .. .. .. 1,767 12 10 count .. .. 5,000 0 0 Accrued .. .. .. 313 9 9 58,590 0 0 2,081 2 7 Liability to Consolidated Fund in terms of section Sundry debtors .. .. . . . . 80 19 4 22, Finance Act, 1926 .. .. .. 5,000 0 0 Profit and Loss Account .. .. .. 4,330 16 10 Suspense Account .. .. .. .. 171 9 9 Cash in hand and in bank at 31st March, 1928 .. 115 7 8 Income-tax Suspense Account .. .. 15 2 0 Interest on loans— £ s. d. Overdue .. .. .. 1,415 15 7 Accrued .. .. .. 1,162 3 4 2,577 18 11 Rent accrued .. .. . . .. 37 1 8 Reserve for losses on realization and bad debts .. 3,515 13 10 Sinking Fund .. .. .. .. 103 18 4 £70,011 4 6 £70,011 4 6 * This amount includes the sum of £612 10s. lOd. capital paid into the Sinking Fund in accordance with the Public Debt Extinction Act, 1910. Profit and Loss Accodt for the Year ended 31st March, 1928. Dr. £ s. d. Cr. £ s. d. To Management Expenses Account .. .. 100 0 0 By Interest Account—Gross profits .. .. 233 13 3 Expenses of realization of assets . . .. 50 11 6 Balance—Net profits for the year . . .. 83 1 9 £233 13 3 £233 13 3 £ s. d. £ s. d. To Balance as at 31st March, 1927 .. .. 4,398 16 7 By Net profits for the year .. .. .. 83 1 9 Income-tax .. .. .. .. 15 2 0 Balance .. .. .. .. .. 4,330 16 10 £4,413 18 7 £4,413 18 7 Interest Account for the Year ended 31st March, 1928. Dr. £ s. d. £ s. d. j Cr. £ s. d. £ s. d. To Interest on loans .. .. 2,452 7 9 By Interest on mortgages .. 1,798 1 9 Less accrued at 31st March,l927 1,271 6 8 Interest on mortgages— 1,181 1 I Overdue at 31st March, 1928.. 1,767 12 10 Interest on loans accrued but not due .. 1,162 3 4 Accrued at 31st March, 1928.. 313 9 9 Balance—Gross profits transferred to Profit and Loss Account .. .. .. .. 233 13 3 3,879 4 4 Less interest overdue and accrued at 31st March, 1927.. .. 2,024 5 4 1,854 19 0 Interest on bank balances .. .. 12 17 0 Interest on temporary advances to Settlers Branch.. .. .. .. .. 709 1 8 £2,576 17 8 £2,576 17 8 Management Expenses Account for the Year ended 31st March, 1928. Dr. £ s. d. Cr. £ s. d. To Administration expenses .. .. . . 95 0 0 By Balance transferred to Profit and Loss Account .. 100 0 0 Audit Office services .. .. .. 5 0 0 £100 0 0 I £100 0 0 ■ 1 11 «=■ i 1 Wm. Waddel, Superintendent.. State Advances Office, Wellington, 23rd August, 1928. R. Robertson, Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby. —G. F. C, Campbell, Controller and Auditor-General.

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