H.—3OA

HONEY SECTION Pool Account for the Year ended 31st March, 1944 Dr. £ Cr. £ Stocks on hand as at Ist April, 1943 : Local .. 3,456 Balance from last year .. .. .. 505 Honey purchased .. .. .. .. 79,151 Sales— ' £ Administration expenses (salaries, rents, tele- London .. .. .. 1,105 phones, stationery, &c.) .. .. .. 1,900 New Zealand .. .. .. 81,479 Advertising . . .. . . .. 41 — t 82,584 Commission, excluding export .. .. 1,214 Sundry credits .. .. .. .. 2,503 Local Pool Account expenses — Stock on hand as at 31st March, 1944 : Local .. 20,545 New Zealand Depot blending and packing expenses .. .. .. .. 10,278 Freight and cartage .. .. .. 3,421 Balance forward to next year .. .. 676 £106,137 £106,137 Butter Equalization Account for the Year ended 31st March, 1944 Dr. Cr. £ Equalizing payments under section 12, Market- Balance from last year .. .. .. 768,524 ing Amendment Act, 1937— Differentials: — (a) Reimbursement of charges pay- (a) Net amount received under the Butter able mainly in connection Marketing Regulations 1937, clause 31 152,312 with storing of butter for (b) Indirectly accrued under the local consumption during the Butter Marketing Regulations winter months in the South 1937, clause 16, representing Island and not allowed for in the difference between the the butter differential: — £ £ proceeds of butter withdrawn Freight and cartage .. 1,626 from export, &c., for sale at Reworking and defrosting 241 the regulated price (less Storing and freezing .. 3,947 allowances for patting, &c.), Interest and insurance .. 3,297 and the amount paid for the 9,111 purchase at the f.o.b. (b) Rebate on bulk purchase of whey butter 612 guaranteed price, as follows:— (c) Payments to authorized distributors in Sales at the regulated local £ connection with the sale of butter as price .. .. 891,146 ships' stores to foreign-going vessels, Plus stocks on hand, 31st sales to island dependencies, servicing- March, 1944 (valued allowances, &c. .. .. .. 19,974 guaranteed f.o.b. price) 200,714 (d) Loss on purchase and sale of whey-butter cartons for dry butterfat .. .. 359 1,091,860 Payments under section 11, Marketing Less purchases £ Amendment Act, 1937:— £ at guaranteed Freight and cartage .. .. 10,915 f.o.b. price 886,283 Agency, wharfage .. .. 462 Plus stock on Storage and freezing .. .. 9,577 hand, Ist Insurance .. .. .. 202 April, 1943 Grading fees .. .. .. 2,356 (valued Special reworking-allowance .. 553 guaranteed f.o.b. price) 196,490 24,065 1,082,773 Less insurance rebate .. .. 1,146 9,087 22,919 Interest on balance of account ~ .. 7,904 Overhead and administrative expenses .. 4,516 Transfers to Dairy Industry Account in respect of years ended 31st March, 1942 and 1943 . . 200,000 Balance forward to next year .. .. 680,336 £937,827 £937,827 Balance-sheet as at 31st March, 1944 (Exclusive op Apple and Pear Accounts) Liabilities £ Assets £ Creditors .. .. .. .. 945,236 Land .. .. .. .. 12,740 Reserve for repairs, renovations, and for Buildings .. .. .. ~ 20,920 obsolescence of buildings and equipment .. 15,085 Motor-vehicles .. .. .. .. 7,638 Reserve for Public Service Superannuation Loose tools, equipment, plant, furniture, and Fund .. .. .. .. 80 office appliances .. .. .. 53,217 Reserve for war-damage and general insurance Stock in trade .. .. .. .. 452,759 on goods in transit and in cool stores .. 9,500 Stocks of consumable stores . . . . 31,774 Reserve for honey advertising (London) .. 15,748 Debtors .. .. .. .. 1,054,751 Honey Pool Account .. .. .. 676 Advances to Apple and Pear Section .. 741,611 Butter Equalization Account .. .. 680,336 Payments in advance .. .. .. 59 Egg Pool Account .. .. .. 5,337 Cash in hand .. .. .. .. 7 Honey Seals Account .. .. .. 17,016 Shares in Combined Distributors, Ltd. .. 135 Bank overdraft .. .. .. .. 346,009 Losses in Suspense .. .. .. 42 Writings off Reserve .. .. .. 42 Profit and Loss Appropriation Account .. 340,588 £2,375,653 £2,375,653 I certify that the Trading Account, Profit and Loss Account, and Appropriation Account, the Butter Equalization Account, the Honey Section Local and Export Pool Account, and the Balancesheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—Cyril G. Collins, Controller and Auditor-General. R. P. Fraser, Director. G. C. Jupp, Accountant.

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