SOUTH BRITISH INSURANCE COMPANY.

New Zealand Herald, Volume XLVII, Issue 1449, 3 October 1910, Page 7

SOUTH BRITISH INSURANCE COMPANY.

ANNUAL BALANCE-SHEET. We have already published the salient points in the report of the directors of the South British Insurance Company, to be presented to the shareholders at their annual meeting: to be held on October 13. The statement of accounts for the year ending August 31 is as follows:— REVENUE ACCOUNT, DR. To fire, marine, and accident losses, paid and outstanding £197,319 13 7 Agents' commissions, salaries, and other expenses .. .. 74,628 17 8 Advertising, printing, and stationery .. 7,786 5 4 Contributions to Underwriters' Associations and fire brigades .. 5,553 12 5 Government licenses and rates and taxes 6,855 4 10 Amount required to re-insure crfrrent risks, August 31, 1910 140,000 0 0 Balance carried to profit and loss account 67,663 3 5 Total £499,806 17 3 CR. By amount required to reinsure current risks, August 31, 1909 £130,000 0 0 Fire, marine, and accident premiums (less re-insurances) 336,542 5 4 Interest and rents received and accrued 33,264 11 11 Total .. .. .. ".. £499,806 17 3 PROFIT AND LOSS ACCOUNT. Dr. To dividend paid October, 1909 ... £15,000 0 0 Dividend paid April, 1910 15,000 0 0 Sinking Auckland leasehold 75 0 0 Sinking fund—London, leasehold... 225 0 0 Amount written off office furniture 546 0 6 Contribution to officers' superannuation and provident fund 3,048 18 5 Amount transferred to reserve fund 30,000 0 0 Balance carried to balance-sheet 43,297 0 1 Total £107,191 19 0 CE. By balance brought from August, 1909 39,528 15 7 Balance brought down from revenue account ... 67,663 3 5 Total £107,191 19 0 BALANCE-SHEET. LIABILITIES. To authorised capital—4oo,ooo shares at £5 each .. .. £2,000,000 0 0 Subscribed capital — 200,000 shares at £5 each .. .. 1,000,000 0 0 Less uncalled capital— shares at £4 10s each .. 900,000 0 0 Capital paid up £100,000 0 0 Reserve fund .. . . .. 340,000 0 0 Re-insurance reserve fund .. 140,000 0 0 Reserve for outstanding losses 65,032 0 0 Investment fluctuation reserve fund .. .. .. 2,982 15 6 Auckland leasehold sinking fund 2,290 14 9 London leasehold sinking fund 1,455 7 11 Bills payable and sundry creditors for open accounts .. 8,802 5 7 Balance brought down from profit and loss account .. 43,297 0 1 Total £703,860 3 10 ASSETS. By landed property £222,599 6 0 Loans on mortgage 187,210 0 0 Fixed deposits ' 51,500 0 0 Stocks and debentures 31,173 18 5 Municipal and Harbour Board debentures, as under Auckland City Council, 4 per cent 15,000 0 0 Auckland City Council, 6 per cent 100 0 0 Auckland Harbour Board, 4 per cent 8,000 0 0 Dunedin City and Suburban Tramways, 4i per cent. ... 10,000 0 0 Borough of New Plymouth, 4i per cent. 10,000 0 0 Wellintrton City. 4 per cent. ... 5,000 0 0 Wellington Harbour Board, 4 per cent 1,800 0 0 Wellington Water Works, 6 per cent 2,000 0 0 Government securities, as under— Cape of Good Hope, M per cent. 9,872 0 7 Japanese Imperial, 4 per cent. 10,000 0 0 New South Wales, 3J per cent. 9,967 18 4 South Australian, 3i per cent. 6,000 0 0 Victorian, 3i per cent 7,876 13 4 Queensland. 3 per cent. ... 2.610 0 0 West Australian, 4 per cent. 5,000 0 0 Cash in banks and- bills of exchange in transitu 18,990 8 0 Balances at branches and agencies 75,709 5 10 Bills receivable 1,068 1 10 Sundry debtors for open accounts 7,468 6 2 Furniture at offices 4,914 5 4 Total ...£703,860 3 10