7

H—44b

Balance-sheet of the Linen Flax Corporation of New Zealand as at 31st December, 1946 Liabilities of the Linen Flax Corporation— £ s. d. £ s. d. Assets of the Linen Flax Corporation— £ s. d. £ s. d. National development loan .. .. 30,000 0 0 Buildings (at valuation in accordance Treasury Account (purchase considera- section 12, Linen Flax Corporation tion, assets taken over in accordance Act, 1945, less 3 per cent, per annum Treasury Memorandum T. 47/352) .. 162,675 4 7 depreciation) .. .. .. 62,277 3 2 £ s. d. Plant (at valuation in accordance Accident Reserve .. 671 16 7 section 11, Linen Flax Corporation Less compensation 560 6 7 Act, 1945, less 10 per cent, per payments 111 10 0 annum depreciation) .. .. 48,796 11 2 Fire insurance reserve .. 2,349 16 3 Stores (at valuation in accordance Less Methven fire 100 4 7 section 11, Linen Flax Corporation damage 2,249 11 8 Act, 1945, and as certified by factory-Fibre-store insurance .. .. 375 0 0 manager) .. .. .. 34,511 13 5 195,411 6 3 Motor-vehicles (at valuation in accordOther liabilities— ance section 11, Linen Flax Treasury Account (current Corporation Act, 1945, less 20 per assets of the Linen Flax cent, depreciation) .. .. 3,424 0 0 Section taken into Land, including roads, fences, &c. (at Corporation Accounts valuation in accordance Linen Flax for purpose of Corporation Act, section 12) .. 9,533 13 3 liquidation) .. 165,661 6 10 £ s. d. Loss to 31st December, Research .. .. 1,228 19 0 1946, on liquidation .. 1,535 14 7 Plant development .. 1,422 111 164,125 12 3 2,651 0 11 Sundry creditors .. .. .. 3,199 11 4 Preliminary expenses .. .. 55 15 10 167,325 3 7 Expenditure to 31st December on 1946 crop— £ s. d. Advances to growers .. 13,021 19 1 Proportion factory. expenses .. .. 3,207 7 7 ■ 16,229 6 8 177,479 4 5 Carried forward .. .. .. 362,736 9 10 Carried forward .. .. .. 177,479 4 5