B.—l [PT. IV].

CHEVIOT ESTATE ACCOUNT. Revenue Account for the Year ended 31st March, 1925. Dr. £ s d. Cr. £ s. d. To Administration expenses .. .. .. 872 8 8 By Accrued rent .. .. .. .. 19,227 19 7 Rebates granted .. .. ... .. 1,824 2 2 Interest on investments .. .. .. 8,37619 2 Management charges of inscribed stock .. 3 10 Interest on inscribed stock.. .. .. 8,841 17 2 Balance carried down .. .. .. 16,063 9 9 £27,604 18 9 £27,604 18 9 To Adjustment on account of previous years (rents £ s. d. £ s. d. charged in advance at 31st March, 1924) .. 6,400 0 0 By Balance brought down .. .. .. 16,063 9 9 Sinking Fund Reserve .. .. .. 451 7 10 Balance from previous years .. .. 229,691 16 4 Balance .. .. .. .. 238,903 18 3 £245,755 6 1 £245,755 6 1 Receipts and Payments Account for the Year ended 31st March, 1925. Receipts. Payments. £ s. d. To Balance at Ist April, 1924— £ s. d. £ s. d. By Refunds of revenue .. .. .. 29 18 0 Cash in Public Account .. 5,778 011 Administration expenses under section 19, Investment Account .. 202,640 0 0 Land Laws Amendment Act, 1922, and 208,418 0 11 section 21, Land Act, 1924 .. .. 872 8 8 Rents from leases .. .. .. 17,451 13 3 Interest on inscribed stock .. .. 8,866 2 6 Sales of land .. .. .. .. 15 0 0 Sinking Fund .. .. .. .. 451 710 Interest on securities held by Investment Management charges of inscribed stock .. 3 10 Account .. .. .. 8,288 3 8 Balance at 31st March, 1925— £ s. d. Cash in Public Account .. 9,309 19 10 Investment Account .. 214,640 0 0 — 223,949 19 10 £234,172 17 10 £234,172 17 10 Balance-sheet as at 31st March, 1925. Liabilities. £ s. d. £ s. d. Inscribed stock under New Zealand Loans Act, Land .. .. .. .. .. 391,380 0 0 1908 .. .. .. .. .. 253 ,318 0 0 Sundry debtors for rent .. .. .. 709 8 0 Interest due on inscribed stock .. .. 2,161 17 10 Sundry debtors for interest on investment .. 2,671 9 1 Appreciation of Assets Reserve .. .. 120,297 0 0 Postponed rent .. .. .. .. 1,340 5 2 Sinking Fund Reserve .. .. .. 2,230 4 0 Outstanding Rents Suspense .. .. 557 0 0 Rents charged in advance .. .. .. 6,488 8 7 Sinking Fund .. .. .. .. 2,230 4 0 Rents paid in advance .. .. .. 62 5 5 Capital reductions by Revaluation Board .. 1,040 0 0 Writings off Suspense .. .. .. 557 0 0 Rents written off by Revaluation Board .. 140 8 0 Balance of Revenue Account.. .. .. 238,903 18 3 £ s. d. Cash in Public Account .. 9,309 19 10 Investment Account .. 214,640 0 0 223,949 19 10 £624,018 14 1 £624,018 14 1 J. B. Thompson, Under-Secretary for Lands. J. H. O'Donnell, Chief Accountant. I hereby certify that the Statement of Receipts and Payments, Revenue Account, and Balance-sheet have been duly examined and compared with the copies of the journal entries of the District Lands Office, Christchurch, submitted for audit, and correctly state the position as disclosed thereby. —G. F. C. Campbell, Controller and Auditor- General.