THE LICENSING TRUST

Evening Star, Issue 25618, 19 October 1945, Page 6

THE LICENSING TRUST

DETAILS OF FINANCE (Special) WELLINGTON, Oct. 19. "From detailed accounts accompanying the annual report of the Invercargill Licensing Trust it is shown that the financial results of the separate undertakings to> March 31 were as follows: Appleby Hotel: Bar takings, £18,003* net profit, £3,257; Kelvin Hotel : Bar takings, £48,384, net profit, £10,834. Clyde Hotel: Bar takings, £28,009, net profit, £5,737. Brown Owl Restaurant: Bar takings, £9,945, restaurant, cake kitchen and banquet > hall takings, £16,070, milk bar, £1,939, net profit, £1,301. Grand' Hotel: Bar takings, £15,383, board and residence, £1,140, net profit, £2.353.

Cecil Hotel: Board and residence, £l6l, milk bar, £538, net loss, £172. Newbury building: Revenue from rent, £1,709, net loss, £630. - The trust’s taxation payments were: Income tax, £13,221, social security charge, £2,860. Though the Trust has not reached the staee <r d- i;

its profits in support of public amenities in the district, it has made the renewing modest donations from the authorised expenditure account : Invercargill Civic Band, and Bluff Regatta Committee, £1 Is each, payment of part of fine inflicted on hotel manager, £3. Trust honoraria were £641. Balance sheet items include the following: Assets—cash in bank, £26,270, cash in transit, £14,973; cellar stocks, £9,530; furniture and fittings, £22,033; land and building, £138,148; goodwill—Brown Owl restaurant, £2,415. . Grand Hotel, £7.200, Cecil Hotel, £45.