KIA ORA DAIRYING COMPANY.

Poverty Bay Herald, Volume XLIX, Issue 16042, 1 February 1923, Page 10

KIA ORA DAIRYING COMPANY.

HALF-YEARLY MEETING

The half-yearly meeting of the Kia Ora Co-operative Dairying Co., Ltd., was held at the company s factory at Makaraka to-day. Mr. G. R. Moore, chairman of directors, presided. The balance-sheet, as at December 31, 1922, showed a surplus for the half year of £4749 11s 2d, which, with the £2lB Os 5d brought forward from 1922 made £4067 ‘lls 7d. The assets were shown at £38,124 6s, the principal items being : Freehold and loasehold premises, machinery, plant, etc., £12.072 8s sd, mortgages held £550, stocks on hand £2586, sundry debtors £2849 6s 2d, less reserve for bad .and doubtful debts £2699 7s sd, cash advances—stock £16.418 0s Bd, separators £1775 19s 6d, N-Z. war loan £IOOO. Hydro electric Engineering Co.’s shares £IOOO. The liabilities included: Capital account £8334 6s 2d, reserve fund £4286 16s sd, depreciation fund (invested in N.Z. war loan) £1000—£13,621 2s 7d. Bank of New South Wales advance account £18.194 0s 2d, less reserve account £4952 6s sd, less working account £6793 18s 8d—£11,756 5s 1d—£6447 15s Id. Interest accrued on overdraft £163 7s sd, cream suppliers, December £10,263 6s 9d, general suspense account £B9, sundry creditors £1367 12s 2d. bonuses and dividends £1204 10s sd, profit and loss—Brought forward from 1922, £2lB 0s sd, surplus for half-year, £4749 11s 2d—£4967 Us 7d. Total £38,124 6s

Tho working account showed that the revenuo totalled £66,382 2s Bd, which was made up as under: —By butter sales, local £15.596 4s 4d, export £50,300 — £65,896 4s 4d ,• buttermilk £2O. rent £l3 10s 6d, interest £342 1r lOd, insurance commissions £llO 6s.

The costs included :—Butterfat £47,709 0s 9d, cost of manufacture—wages, boxes, butter-paper, oils, materials, horsefeed, repairs, renewals of plant, and cartage. £8405 7s sd, disposal of produce, export and freezing'charges, etc.. £4479 15s Bd, office expenses £468 16s 3d, sundry charges £369 11s sd, surplus for halfyear £4749 Us 2d ; total £66,382 2s Bd.