H—24A

MASTERTON LICENSING TRUST Trading and Profit and Loss Account for Year Ending 31st March, 1950 Last Year. £ £ 77,760 Bottle-store sales .. .. .. .. .. .. .. .. 98,975 48,859 Deduct cost of goods sold .. .. .. .. .'. .. 62,018 28,901 Leaving a gross profit of .. .. .. .. .. .. 36,957 6 Add permit fees and sundry other revenue .. .. .. .. .. 30 28,907 36,987 Deduct— Bottle and bulk store expenses— £ £ 2,702 Wages .. .. .. .. .. .. 4,210 617 Rents .. .. .. .. .. .. 882 982 Freights, cartage, and wrapping .. .. ~ 869 608 General trade expenses, including insurances, maintenance, and licence fees .. .. .. .. .. 750 63 Depreciation on equipment .. .. .. .. 133 1,318 Balance of cost of temporary alterations to leased premises written off . . .. .. .. .. .. 1,348 8,192 Administration and management expenses—--1,822 Salaries .. . . . . .. .. 2,569 1,050 Trust members' honoraria .. .. .. .. 1,050 466 Rent, rates, insurances, and land-tax .. .. .. 1,027 463 Stationery, stamps, telephones, advertising .. .. 244 137 Members' travelling-allowances .. .. .. .. 51 360 Election expenses 493 General administration expenses, including legal expenses, audit fees, and staff travelling-expenses .. .. 688 21 Depreciation on office equipment .. .. .. 41 •• •. Unauthorized expenditure (search party, £2 6s. 6d. ; wreath, £2 Is. ; Rugby union, 12s. Bd. ; police charity day, £5 ; staff Christmas function, £8 12s. 7d.) .. .. .. 19 5,689 387 Financial expenses : Interest on overdraft and advances .. .. 1,612 856 Non-recurring expenses : Valuation, surveyors, and legal fees on properties written off .. .. .. .. .. 494 13,050 Total expenses deducted .. .. .. .. .. 15,987 Hotel Midland: Net trading loss for six months (as per statement) .. .. .. .. .. .. .. 83 16,070 15,857 Leaving net trading profit before providing for taxes .. .. .. 20,917 10,032 Provision for income-tax and social security charge .. .. .. .. 12,932 £5,825 Leaving net profit after providing for taxes .. .. .. .. £7,985 Appropriation Account £ Unappropriated profit last year 1 .. .. .. 5,825 Add net profit this year .. .. .. .. .. 7,985 13,810 Deduct amount placed to depreciation reserve .. .. .. 500 Unappropriated profit carried forward to next year .. .. .. £13,310 (N.B. —Shillings and pence omitted.)

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