SHARLAND AND COMPANY, LTD.

Evening Post, Volume LXXIX, Issue 112, 13 May 1910, Page 3

SHARLAND AND COMPANY, LTD.

ANNUAL REPORT. The eleventh annual report and bal-ance-sheet of Sharland and Co., whole sale druggists, show that the directors record a satisfactory profit in the manufacture and sales of goods, but regret having to report also a loss by defalcation, which necessitates the subtraction of £3750 from the reserve fund. After making full provision for bad debts, and the loss referred to, and writing off the usual 5 per cent, depreciation on plant and fixtures, the net profit for the year amounted to £372 13s Bd, to which has been added £517 15s Id carried forward from last year, making in all £890 8s 9d. To this amount the directors have added £3750 taken from the reserve fund, making the total for appropriation £4640 8s 9d. The usual dividend of 7£ per cent, on all shares is -recommended, which will absorb £4350 19s 6d, leaving £289 9s 3d to be carried forward to next year's account. Mr. M. Kennedy, who retires from the board of directors, being eligible, offers himself for re-election. The profit and loss account is as follows : — To salaries; interest, discounts,, travelling expenses, rent, and general expenses, £&0,28y 8s 2d ; bad debts, £898 12s 8d ; depreciation, £243 9s 7d ; loss at Auckland, £5358 15s 7d ; balance £890 8s 9d ; total, £27,680 14s 9d. By balance at 28th February, 1909, £7188 9s lid ; less dividend paid 3rd May, 1909, £4320 0s 10 d ; transler to reserve fund 3rd May, 1909, £2000; further allowance of 10 per cent, for depreciation on plant and fixtures, 3rd May, 1909, £350 14s, £6670 14s lOd, leaving £517 15s Id ; gross profits for year ended 28th February, 1910, £27,162 19s 8d ; in all £27,680 14s 9d. By balance, 28th February, 1910, £890 Bs* 9tl ; transfer from reserve fund, £3750; total, £4640 8s 9d.

For Children's Hacking Cough at night, Woods' Great Peppermint Cure. Is 6d and 2s 6d.— Advt.