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General Prof it and Loss Account for the Year ended 31st March, 1928. Dr. I Cr. To Net loss— £ s. d. 'By Net profit— £ s. d. £ s. d. Wanganui Depot .. .. .. 254 11 2 I Liverpool Colliery .. .. 12,100 211 Balance —Profit for year, carried down ... 21,806 0 11 James Colliery .. .. 3,184 18 7 Christchurch Depot.. .. 388 0 1 Wellington Depot .. .. 1,083 9 C Net recoveries— Soddonvillc Colliery.. .. 352 8 9 Point Klizahoth Colliery .. 2,027 8 0 Net revenuo from hire of plant, buildings, &o. .. .. 33 18 9 . 19,179 6 6 Interest on investments .. .. .. 2,881 14 7 £22,061 1 1 £22,061 1 1 To Sinking Fund Account for redemption of loan £ s. d. £ s. d. capital .. .. .. .. 4,552 0 5 By Balance—Profit for year 1927-28 .. ..21,806 911 Balance—Net profit for year .. .. 17,254 9 6 £21,806 9 11 £21,806 9 11 Balance-sheet as at 31st March, 1928. ■ Liabilities. £ g. cl. £ s. d. Assets. £ s. d. £ s. d. Loan under Coal-mines Act, 1908 150,000 0 0 Collieries— Loan under Coal-mines Act, 1908, Development and Property Acand Appropriation Act, 1912 .. 25,000 0 0 counts .. .. .. 174,433 16 4 New Zealand Consolidated In- Machinery, plant, ropes, and scribed Stock .. .. 52,601 0 7 rolling-stock .. .. 40,551 4 3 227,601 0 7 Buildings at mines .. .. 5,811 2 0 Accrued interest on loan capital .. .. 3,811 13 11 Cottages at mines .. .. 6,284 15 1 Sundry creditors— Plantations at mines. . .. 2,403 4 5 Liverpool Colliery .. .. 9,310 11 5 Electrification (James Colliery) 448 4 0 James Colliery .. .. 4,463 16 7 Coal stocks (bins, wharf, and Wellington Depot .. .. 1,968 12 10 afloat) .. .. .. 6,873 0 7 Christchurch Depot .. .. 2,968 12 8 Stores on hand .. .. 7,684 610 Wanganui Depot .. .. 229 19 7 244,489 13 6 18,941 13 1 Plant, buildings, &c, on hire .. .. 3,735 12 5 Deposits on contracts .. • .. .. 1,015 0 0 Depots— Sinking Fund . . .. .. .. 62,338 7 4 Property Accounts .. 16,470 10 11 Reserves— Stocks and stores on hand .. 14,275 0 0 General Reserve .. .. 81,972 2 0 30,745 10 11 Bad Debts Reserve .. .. 609 18 11 Prospecting on State Coal Reserve .. 756 8 8 Accident Insurance Reserve .. 4,246 14 9 Sinking Fund investments .. .. 62,338 7 4 86,828 16 5 Housing advances to workmen .. 4,662 0 3 General Profit and Loss Account — Interest accrued due .. .. 59 8 5 Net profit for year .. .. .. 17,254 9 6 4,721 8 8 Investments (ordinary).. .. 14,300 0 0 Interest accrued due .. .. 153 18 2 14,453 18 2 Sundry debtors — Liverpool Colliery .. .. 4,876 16 8 James Colliery .. .. 121 11 5 Wellington Depot .. .. 19,095 15 4 Christchurch Depot .. .. 5,062 0 3 Wanganui Depot .. .. 4,398 14 10 33,554 18 6 Less provisionally written off 167 14 0 33,387 4 6 Cash in Receiver-General's Deposit Account 1,065 0 0 Cash in Public Account .. .. 22,097 16 8 £417,791 0 10 £417,791 0 10 State Coal-mines Office, Wellington, 12th July, 1928, J. G. Coates, A. W. Gyles, A.1.A.N.Z., Accountant. for Minister of Mines. I hereby certify that the attached Working and Profit and Loss Accounts of Depots and Collieries, General Profit and Loss Account, and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, except that in the opinion, of the Audit Office interest on capital expenditure on the unopened MacDonald Colliery should be charged to General Profit and Loss Account instead of being capitalized, as development was sufficiently completed several years ago.—G. F. C. Campbell, Controller and Auditor-General.

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