SHARLAND AND CO., LTD,
ANNUAL REPORT ON YEAR'S OPERATIONS. The twenty-fifth annual balance-sheet and report, of directors to lie presented to the annaul meeting next months states: “In presenting the balance-sheet and profit and loss account for the year ended August 31»t, 1923, your directors bavo pleasure in reporting continued extension of business and resulting profit. “Alter providing for ell bad and doubtful debts, full depreciation of premises and plant, taking stock at saleable values, and Government War Stock under market price, as well as payment of interim dividend, there remains a balance* of <£10,373 6s 9d to be dealt- with, including the sum of £4954 14s 8d brought forward from last year’s account. Appropriation is recommended as follows: “Tn payment of dividend, 7 per cent, for the year, less interim dividend of 21 per cent, paid May 10th last, <£5625; to carry forward to next year's account (providing for income tax), <£4753 6s 9d; total, <£10.878 6s 2d. “Your thanks are due to tho managers end staff for their zealous work during the your. In terms of the articles of association, the retiring director is Mr \V. Watson, who, being eligible, offers himself for re-election. The auditors— Mr James W. Jack, in Wellington, and Mr Alet. Grierson, in Auckland—offer themselves for re-election, and there aro no other nominations. “W. WATSON, Chairman.* CAPITAL AND LIABILITIES. £ s. d. £ s. d.
Capital— Authorised and subscribed ... 125,000 0 0 37,500 Preferonce Shares of e-Cl each, fully paid ... 37,500 0 0 87,500 O r d i nary Shares ot' £1 each, fully paid ... 87,500 0 0 ■ 125,000 0 0 Mortgage 18,750 0 0 Amount owing to bank, open 1 i a b i lities, bills payable, etc 60.694 * 2 Reserve 10,000 0 0 Balance, profit and loss 10,3*8 C » .£211,822 10 n Contingent liability on bills under discount, etc 11,4-08 19 3 ASSETS. £ s. d. Stock on hand 97.332 12 0 3 Plant and fixtures o,1)8G 9 n Freehold properties 42,869 S 6 Cash in hand 306 0 r 3 Bills receivable on hand ... 1,0*2 19 3 N\Z. Government War 0 £214,822 10 11 PKOFIT AND DOSS ACCOUNT. £ s. d. To salaries interest, discounts, taxes, travelling and general expenses ... 43,8*1 13 9 Bad debts 550 3 4Depreciation 1,04-3 1 4 Interim dividend 3,12.> 0 Balance 10,3*8 6 9 £58,968 15 2 £ a. d. £ e. d. By balance at AuRust 31st, 1922 9,329 14 8 Less dividend paid November 1st, 1922... 4,375 0 0 4,954 14 s Gross profits for year ended A u g u st 31st, 1923 54,014 0 6 4258,968 15 2 August 31st. 1923— By balance £10,378 G u D. E. BEAGLEHOLE, Secretary.
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Bibliographic details
New Zealand Times, Volume L, Issue 11655, 20 October 1923, Page 7
Word Count
442SHARLAND AND CO., LTD, New Zealand Times, Volume L, Issue 11655, 20 October 1923, Page 7
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