B—l [Pt. IVj

NORTH ISLAND HYDRO-ELECTRIC-POWER SUPPLY— continued Profit and Loss Account for Year ended 31st March, 1945, compared with Year ended 31st March, 1944— continued Net Revenue and Appropriation Account

Depreciation Reserve Account

12

— 1944-45. 1943-44. 1944-45. 1943-44. Interest (gross) for year Less interest capitalized Depreciation on completed works Loan Redemption Fund Social security charge, national security tax, income-tax £ 563,038 88,038 £ 475,000 246,797 132,325 300,604 £ 498,616 49,460 Balance from Gross Revenue Account Transfer from Reserve Fund (Finance Act (No. 2), 1944, Section 9) £ 1,056,194 98,532 £ 1,029,444 202,483 449,156 237,521 208,068 337,182 1,154,726 1,231,927 1,154,726 1,231,927

— 1944-45. 1943-44. 1944-45. 1943-44. Replacements, renewals, &c. Balance £ 8,631 2,069,631 £ 3,807 1,761,024 Balance from previous year's statement Interest at 4 per cent, per annum Amount set aside as per Net Revenue and Appropriation Account £ 1,761,024 70,441 246,797 £ 1,468,567 58,743 237,521 2,078,262 1,764,831 2,078,262 1,764,831