B.—l [PT. IV],

DEPARTMENT OF AGRICULTURE —continued. NAURU AND OCEAN ISLANDS ACCOUNT. Revenue Account fob the Yeae ended 31st March, 1935. Dr £ r. d. Or. £ s. d. To Interest on debentures 15,684 3 9 By Annual payment from the British Phosphate Administration charge .. .. " •• 500 0 0 Commission dō,S4S II Z Audit fee .. .... .. 500 Balance to Appropriation Account .. .. 19,659 7 5 £35,848 II 2 £35,848 II J> Appropriation Account for the Year ended 31st March, 1935. £ s. d. s - To Redemption of debentures .. .. ■■ 47,725 0 0 By Balance, Ist April, 1934 .. .. •• 51 > Balance, 31st March, 1935 .. .. •• 23,856 010 Revenue Account .. .. .. . . 19,659 7 5 £71,581 0 10 £71,581 0 10 Balance-sheet as at 31st March, 1935. Liabilities. ssels. fVmital— ' £ 8- d. £ s. d. Share (16 per cent.) Nauru and Ocaan Islands £ s. d. Debentures at 3i per cent. .. 402,275 0 0 phosphate rights (at cost) . .. •• 565,040 0 0 Debentures at 4 per cent. .. 29,200 0 0 Proportion of annual payment from British 431,475 0 0 Phosphate Commission, accrued but not due .. 2b,5»b » o Interest accrued but not due 3,033 17 5 Cash (Loans Redemption Account) .. .. 3 910 Reserve Account .. .. .. •• 133,565 0 0 Appropriation Account .. .. •• 23,856 010 £591,929 18 3 £591,929 18 3 NOTES—(I) New Zealand's share of the profits earned by the Commission has been used for capital developments, but is not included in these accounts; (2) the accounts of the British Phosphate Commission for the year ended 30th June, 1934, are published herewith. Houston, Accountant, Department of Agriculture, Wellington. I hereby certify that the Revenue Account ancl 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, subject to the departmental notes enfaced thereon.—J. H. Fowler, Deputy Controller and Auditor-General. THE BRITISH PHOSPHATE COMMISSIONERS. Trading Account for the Year ended 30th June, 1934. Dr _ £ s. d. Cr. £ s. d. To F.o.b. cost of phosphate, including interest on By Balance brought forward, Ist July, 1933 .. 5,895 17 0 capital, contribution to a sinking fund for Phosphate sales and sundry credits, less freight the redemption of capital, and other charges and insurance, &c. .. .. " ' J » ,a in accordance with Article 11 of Agreement of the 2nd July, 1919 .. .. •• 726,034 5 8 Balance carried forward .. .. •• 9,618 17 1 £735,653 2 9 £735,653 2 9 Balance-sheet as at 30th June, 1934. Liabilities. £ s. d. Assets. United Kingdom Government . . .. 1,375,870 17 1 Nauru and Ocean Island phosphate rights, £ s. d. Commonwealth Government .. •• 1,375,870 17 1 buildings and plant, steamers, and investNew Zealand Government 524,141 7 0 ments less reserves for depreciation and other charges m accordance with Article 11 3,275,883 1 2 of Agreement of the 2nd July, 1919 .. 2,913,173 7 9 Sinking fund for redemption of capital .. 255,616 18 10 Sundry debtors and bills receivable .. .. 185,574 15 8 Sundry creditors and outstandings .. .. 302,044 14 0 Voyages m progress •• •• 4,882 17 6 Government Appropriation Account .. 3,411 6 5 Phosphate and goods m transit .. 06,052 17 5 Trading Account, balance carried forward .. 9,618 17 1 Stocks at Nauru, Ocea,n Island, and elsewhere... s Cash at banks and m hand .. .. 433,079 14 10 £3,846,574 17 6 £3,846,574 17 6 We have examined the foregoing Balance-sheet with the books and vouchers of the British Phosphate Commissioners and the audited accounts from London. We have accepted the certificates of officers of the Commissioners for the valuation of the stocks. We have obtained all the information and explanations we have required. In our opinion the Balance-sheet is properly drawn up so as to exhibit a true and correct view of the state of the Commissioners' affairs according to the best of our information and the explanations given to us and as shown by the books of the Commissioners. —Kent, Brierley, and Sully, Chartered Accountants (Aust.), Auditors.

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