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FARMERS' FERTILIZER

CHANGES IN THE ACCOUNTS Explaining changes in the accounts of the New Zealand Farmers' Fertilizer Company, which were adopted at the annual meeting to-day, the chairman, Mr. S. Irwin Crookes, said the substantial increase of £155,518 in the balance-sheet total to £821,650 was due to an increase in open accounts of £90,927, and of sundrv creditors of £51,563. There was, he said, no cause to be disturbed over the magnitude of these accounts as they were more than offset by liquid assetg totalling £429,242, giving an excess of £103.792 over current liabilities. Buildings, Plant, etc., stood at £22,597 less than last year, Mr. Crookes added, but the actual depreciation written off was £32,178, the difference representing additions during the year. War loan investments increased from £15,000 to £25,000. Gross profit was £162,510, a rise ot £18,426. Under war risk insurance over £11.000 was recovered in connection with a sulphur cargo, and this was brought into the accounts. A greater sum than this had been placed with the Treasury for deferred maintenance. Costs continued to rise, and wages showed an increase of 24 per cent over last year. rteserves, Including undistributed profits, now stood at £73,725. The retiring directors. Messrs. H. R. Mackenzie and A. S. Sutherland, were re-elected.

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AS19450808.2.24.3

Bibliographic details

FARMERS' FERTILIZER, Auckland Star, Volume LXXVI, Issue 186, 8 August 1945

Word Count
210

FARMERS' FERTILIZER Auckland Star, Volume LXXVI, Issue 186, 8 August 1945

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