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COLD-STORAGE ADVANCES ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1928. Liabilities. £ s. d. £ s. d. Assets. £ s. d. Sundry loans .. .. ..82,750 0 0 Investment Account—Principal owing by mortLess loan liability redeemed and gagors .. .. .. .. .. 41,760 5 0 discharged from Consolidated Temporary advances to Settlers Branch .. 31,570 0 0 Fund . . .. 7,500 0 0 Sinking 'Fund investments held by Public Debt j Redemption Fund .. .. .. *1,087 2 7 75,250 0 0 Interest on mortgages — £ s. d. Less loan liability redeemed by j Overdue .. .. .. 1,529 9 5 Public Debt Repayment Ae- [ Accrued .. .. .. 708 14 2 count .. .. 1,530 0 0 2,238 3 7 73,720 0 0 ; Sundry debtors .. .. .. .. 23 2 0 Liability to Consolidated Fund in terms of section j Profit and Loss Account .. .. .. 160 13 11 22, Finance Act, 1926 .. .. .. 1,530 0 0 I Cash in hand and in bank at 31st March, 1928 .. 273 9 8 Income-tax —Suspense Account .. .. 119 16 0 Interest on loans- — £ s. d. Overdue .. .. .. 1,337 17 5 Accrued .. .. .. 244 3 5 1,582 0 10 Sinking Fund .. .. .. .. 160 19 11 £77,112 16 9 £77,112 16 9 * This amount includes the sum of £926 2s. Bd. capital paid into the Sinking Fund in accordance with the Public Debt Extinction Act, 1910. Profit and Loss Account fok the Year ended 31st March, 1928. Dr. £ s. d. Cr. £ s. d. To Management Expenses Account .. .. 115 0 0 By Interest Account—Gross profits .. .. 772 14 10 Balance —Net profits for the year .. .. 657 14 10 £772 14 10 £772 14 io £ s. d. £ s. d. To Balance as at 31st March, 1927 .. . . 698 12 9 By Net profits for the year .. .. .. 657 14 10 Income-tax .. .. .. .. 119 16 0 Balance .. .. .. .. .. 160 13 11 £818 8 9 £818 8 9 Interest Account for the Year ended 31st March, 1928. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. .. 2,974 0 5 By Interest on mortgages .. .. 1,565 0 0 Less accrued at 31st March, 1927 247 8 0 Interest on mortgages— 2,726 12 5 Overdue at 31st March, 1928 .. 1,529 9 5 Interest on loans accrued but not due .. 244 3 5 Accrued at 31st March, 1928 .. 708 14 2 Balance —Cross profits transferred to Profit and Loss Account .. .... .. 772 14 10 3,803 3 7 Less overdue and accrued at 31st March, 1927 .. . . 1,606 6 9 2,196 16 10 Interest on bank balances .. .. .. 413 0 Interest on temporary advances to Settlers Branch .. .. .. .. .. 1,542 0 10 £3,743 10 8 £3,743 10 8 Management Expenses Account for the Year ended 31st March, 1928. Dr. £ s. d. Cr. £ $. d. To Administration expenses .. .. .. 110 0 0 By Balance transferred to Profit and Loss Account . . 115 0 0 Audit Office services .. .. .. .. 5 0 0 £115 0 0 £115 0 0 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. —6. F. C. Campbell, Controller and Auditor-General.

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