Strong Position of Feilding A. and P. Association

Manawatu Times, Volume 60, Issue 98, 29 April 1935, Page 3

Strong Position of Feilding A. and P. Association

COMMENTS ON ANNUAL BALANCE-SHEET

At Friday’s meeting of the committee of the Feilding A. and P. Association Mr L. J. "Wild (chairman of the executive committee) reviewed the audited balance-sheet for the year just closed. This, he stated, showed that after writing.off 5 per cent, depreciation, amounting to £149 3s 6d, the year closed with a loss of £l6 10s 5d., Tie recalled that at a preliminary review of the balance-sheet in March it was anticipated that the loss on the year’s operations would amount to about £4O, and it would therefore be seen that t'he position had been considerably improved. During the year £2lO 18s was expended in additions to the pig pavilion and £SS 2s 4d maintenance of buildings and plant. Tho year commenced with a bank overdraft of £642 Is 4d and closed with us owing £674 4s Bd, which must be considered very satisfactory in view of the capita! expenditure, depreciation and maintenance, etc. Mr H. J. Lancaster offered his congratulations to the executive and said that the balance-sheet was in every way satisfactory. The Feilding association’s position was indeed a rosy one, and ho knew that few A. and P. associations could show such a strong position.

Further to his report Mr Wild stated that the position of tho association was that it had one liability, an amount of £526 ■which was owed to the bank, against which there wore assets in tho way of land and buildings, conservatively valued at £6OOO. The chairman, Mr D. W. Reid, agreed that tho position as disclosed by the balance-sheet was very satisfactory indeed.