B—l [Pt. IV]

Dr. £ Or. £ Administration expenses .. .. .. .. .. 352 Gross profit on sales of land .. .. .. ■ • ~1y660 Interest, &c., written off .. .. .. .. .. 51 Interest on sales .. .. .. .. •• •• 3,887 Rebates .. .. .. .. .. .. .. 23 Rent .. .. .. .. • • • • • • Remissions .. .. .. .. .. .. 3 Balance (profit for year), transferred to Profit and Loss Appropriation Account .. .. .. .. .. .. 5,158 £57587 £5,587 Profit and Loss Appropriation Account for the Year ended 31st March, 1945 Dr. £ Cr. £ Balance carried forward : Profit earned to 31st March, 1945 .. 224,568 Balance, brought forward . . .. .. .. .. 219,410 Profit for the year transferred .. .. .. •. 5,158 £224,568 £224,568 Balance-sheet as at 31st March, 1945 Liabilities £ £ Assets £ Moneys provided by Land for Settlements Account for— Land on hand .. .. .. .. .. .. 1,780 Purchase of land .. .. .. .. 164,982 Sales debtors (not yet payable) .. .. .. .. 74,146 Street formation .. .. .. .. 206, 888 Sundry debtors— Incidental expenses .. .. .. .. 21,855 . Instalment— £ Principal .. .. .. .. .. 3,220 393,725 Interest .. .. .. .. .. 1,894 Interest on capital provided .. .. .. 81,666 Rents , .. .. .. .. .. 72 5,186 475,391 Interest accrued but not due .. .. .. .. 370 Less'deductions under section 11 (2) (a) of the Hutt Profits transferred to Railways Department— Valley Land Settlement Act and section 11 (2) of Profits realized in cash and paid to Railways DepartFinance Act, 1932 .. .. .. .. 475,391 ment .. .. .. .. .. 115,969 Balance due .. .. .. .. .. Nil ' ! Balance unpaid on area taken for workshops .. 26,389 Instalments paid in advance .. .. .. .. 31 142,358 Rent accrued but not due ' .. .. .. .. 1 Losses in Suspense .. .. .... .. 51 Writings-off in Suspense .. .. .. .. .. '5l Land for Settlements Account: Funds in hand available for Profit and Loss Appropriation Account .. .. .. 224,568 disposal under section 11 of Finance Act, 1932 .. .. 760 £224,651 £224,651 E. 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, 1945

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