H—4s

Balance-sheet as at 31st March, 1948 1946-47. | 1946-47. £ Liabilities £ Assets £ £ 754 Creditors .. .. .. .. .. 378 Cash at Bank of New Zealand: Head Office accounts .. 21,186 18,058 Reserves: buildings— £ Fixed — 40,000 As per Balance-sheet, 31st March, 1947 .. 50,000 j Buildings— £ £ Appropriated for year— | As per Balance-sheet, 31st March, 5,000 Co-operative Contracts Fund .. .. .. | 1947 .. .. .. 32,5(55 24,09(5 5,000 National Administration Fund .. .. 15,000 Less works in progress at 31st March, 1947 .. .. 210 14,789 50,000 65,000 Accumulated funds (Repairs and Maintenance 32,355 9,307 Account)— Additions during year .. .. 154 23,867 226 As per Balance-sheet, 31st March, 1947 .. 794 I Works in progress as at 31st March, 567 Balance brought in for year .. .. 756 1948 .. .. .. 13,175 210 1,550 13,329 45,684 33,384 Sales during year .. .. .. .. -91 Depreciation for year .. .. 867 728 —. 867 44,817 32,565 Land— As per Balance-sheet, 31st March, 1947 .. .. 925 924 £51,547 £66,928 £66,928 £51,547 A. E. Bockett, General Manager. A. 6. Davidson, Chief Accountant. I hereby certify that the Revenue Account and Balance-sheet relating to the Buildings Fund have been duly examined and compared with the books and supporting documents, and correctly state the position as disclosed thereby.— J. P. Rutherford, Controller and Auditor-General.

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