H—3oa.

HONEY SECTION Local and Export Pool Account for the Year ended 31st March, 1945 Dr. £ Q r _ £ Stock on hand: Local .. .. .. .. .. 20,545 Balance from last year .. .. .. 676 Honey purchases .. .. .. .. .. ..61,522 SalesAdministration expenses (salaries, rent, telephones, &c.) .. 2,000 Packed and bulk honey in London .. .. ..10 289 New Zealand advertising commission, excluding export .. 1,397 Packed and bulk honey in New Zealand .. .. .. 99'001 Local Pool Account expenses— £ Exchange .. .. .. .. .. . '942 Blending and packing .. .. .. .. 21,756 Sundry credits .. .. .. .. ..1 767 Cartage and freight .. .. .. .. 3,228 Stocks— £ ' 24,984 Local .. .. .. .. .. .. 3,728 Export Pool Account expenses— Export .. .. .. 1 067 Blending and packing and London depot expenses .. 5,461 " _J 4 795 Handling, freight, &c. .. .. .. .. 1,392 6,853 Balance forward to next year .. .. .. .. 169 £117,470 £117,470

27

Transfer of profit to Head Office Stabilization case subsidyBalances forward to next year Prof £ 491^226 IT AND £ 33,466 2,411 120,044 Loss Api £ 33,466 2,411 611,270 ?ropriation Account Balances from last year Reserve for obsolesence and renovations (not now required) Auckland profit transferred Net profit for the year ended 31st March, 1945 £ 245,112 2,091 2,875 241,148 £ 95,476 60 j445 £ 340,588 2,091 2,875 301,593 £491,226 £155,921 £647,147 £491,226 £155,921 £647,147