LOSS OF £607

Press, Volume C, Issue 29554, 1 July 1961, Page 4

LOSS OF £607

New Brighton Club A loss of £607 is shown in the accounts to be presented at the annual meeting of the New Brighton Trotting Club next Thursday. The chib had a loss of £9lO the previous year.

The club had not been favoured with good weather this season, says the annual report. This has seriously affected attendances and totalisator turnover. Attendances have decreased by 6031 for the season and on-course totalisator turnover is down by £29.209 ss. Because the club's buildings have been written down to £22.562. compared with the Government valuation of £62.000. the committee has decided to claim half depreciation on buildings, but full depreciation on all other assets, says the report. The Government valuation of the club’s unencumbered property of 121 acres is £28.000. compared with the book value of £8.322. says the report.

The grounds and buildings have been fully maintained during the season and improvements carried out in the cafeteria and bar under the concrete grandstand The report refers to the deaths of 16 members. No elections will be necessary for club officers. Mr A. E. Idling will succeed Mr A. McDonald as president and Mr W. F. Stark will be the new vice-president Mr A. G. Jamieson has been re-elected honorary treasurer Stakes distributed during the season amounted to £21.000. £l5O less than during the previous year. Other items of expenditure (with those for the previous year in parenthesis) are:—Totalisator expenses. £5299 <£54041; race meeting expenses, £4691 (£4868); wages. £3479 (£3166); repairs and maintenance. £1933 (£2825); depreciation. £1823 (£2502>; general expenses, £ 1531 (£1566); New Zealand Trotting Conference levies. £1231 (£1210); salaries. £ll3O (£1086). Income Figure* During the year the club received £34.452 from the totalisator including a share of the Totalisator Agency Board profits. The club received £36.485 from the same source the previous year. Other item* of income (with those for the previous year in parenthesis) are:— Nomination and acceptance fees, £4043 (£4334); gate receipts. £2885 (£2000); members’ subscriptions. £1345 (£1214).

The club's cash investments, including a building fund reserve of £6OOO. are shown tn the balance-sheet at £14.093 Lend, buildings and plant are shown at £36,717. j