B.—l | PT. IV"

LAND FOR SETTLEMENT ACCOUNT—continued CHEVIOT ESTATE ACCOUNT (Subsidiary to Land for Settlements Account) Revenue Account for the Year ended 31st March, 1944 Dr. £ Cr. £ Interest on loan capital .. .. .. .. 6,437 Rents, &c. .. .. .. .. ..15,814 Interest on accumulated funds held .. .. .. 6,206 Interest on sales of land and buildings .. .. 1,424 Administration expenses .. .. .. ~ 758 Rebates .. .. .. .. .. .. 1,462 Remissions of rent and interest .. . . .. 37 Balance : Profit for year carried down .. .. 2,338 £17,238 £17,238 £ " £ Transfer to Reserve Account .. .. .. £2,338 Balance brought down .. .. .. .. £2,338 Balance - sheet as at 31st March, 1944 Liabilities Assets l Capital £ £ Land— £ £ Loan capital .. .. .. .. 160,918 Leased .. .. ;. .. 307,767 Accumulated fund .. .. 464,497 Unleased .. .. .. .. 325 308,092 625,415 Sales debtors (not yet payable)— Less cash paid to Land for Settlements Land .. . .. .. .. 22,413 Account .. .. .. .. 320,111 Buildings .. .. .. .. 150 305,304 22.563 Reserve Account .. .. .. .. .. 22,311 Sundry Debtors: Rents .. .. .. .. 374 Rents, &c., accrued but not due .. .. .. 3,740 Postponed rent .. .. .. .. .. 40 Rents and interest paid in advance .. .. .. 15 Interest accrued but not due .. .. .. 301 £331,370 £331,370 R. G. Macmorran, Under-Secretary for Lands. G. I. Beeson, Chief Accountant. HUTT VALLEY LAND SETTLEMENT ACCOUNT (Subsidiary to Land for Settlements Account) Profit and Loss Account for the Year ended 31st March, 1944 Dr. £ Cr. £ Administration expenses .. .. .. .. 1,118 Gross profit on sales of land .. .. .. 7,500 Interest written off .. .. .. .. 42 Interest on sales .. .. .. .. 4,035 Rebates .. .. .. .. .. .. 23 Rent .. .. .. .. .. .. 370 Remissions .. .. .. .. .. 3 Balance (profit for year), transferred to Profit and Loss Appropriation Account .. .. .. .. 10,719 £11,905 £11,905 Profit and Loss Appropriation Account for the Year ended 31st March, 1944 Dr. £ Cr. £ Balance carried forward : Profit earned to 31st March. Balance brought forward .. .. .. .. 208,691 1944 .. .. .. .. .. .. 219,410 Profit for the year transferred .. .. .. 10,719 £219,410 £219,410 Balance - sheet as at 31st March, 1944 Liabilities Assets £ Moneys provided by Land for Settlements Land on hand .. .. .. .. 5,120 Account for— £ £ Sales debtors (not yet payable) .. .. .. 79,026 Purchase of land .. .. .. 164,982 Sundry debtors— Street-formation .. ~ .. 206,888 Instalment— £ Incidental expenses .. .. .. 21,855 Principal .. .. ~ .. 3,040 Interest .. .. .. .. 2,157 393,725 Rents .. .. .. .. .. 59 Interest on capital provided .. .. 81,666 Departmental .. .. .. .. 20,000 25,262 475,391 Interest accrued but not due .. .. .. 375 Less deductions under section 11 (2a) of the Profits transferred to Railways Department— Hutt Valley Land Settlement Act and Profits realized in cash and paid to Railways section 11 (2) of Finance Act, 1932 .. 475,391 Department .. .. .. .. 81,969 Balance due .. .. .. .. Nil. Balance unpaid on area taken for workshops 26,389 Instalments paid in advance .. .. .. 27 108 358 Rent accrued but not due .. .. .. .. 1 Losses in Suspense .. .. .. .. 42 Writings-off in Suspense .. .. ~ .. 42 Land for Settlements Account: Funds in hand available Profit and Loss Appropriation Account .. .. 219,410 for disposal under section 11 of Finance Act, 1932 .. 1,297 £219,480 £219,480 R. G. Macmorran, Under-Secretary for Lands, G, I, Beeson, Chief Accountant,

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