H 24

INVERCARGILL LICENSING TRUST— continued Combined Profit and Loss Account for Year Ended 31st March, 1950 £ Depreciation— £ £ i £ £ 4,174 Buildings .. .. .. .. 3,326 147,716 Gross profit from Trading Account .. .. 178,925 Fixtures and fittings .. .. .. 60 1,428 Gross profit from store cellar .. .. .. 1,283 3,503 Furniture .. .. .. .. 3,803 . Gross profit from Maintenance Department .. 353 4,758 Linen, glassware, &c. .. .. 3,168 15,359 Rents .. .. .. .. .. 16,113 1,166 Plant .. .. .. .. 1,390 ! 487 Dividends .. .. .. .. .. 573 102 Trucks .. .. .. .. 82 11,829 | 255 Audit fees .. ~ .. .. 348 Fuel and power .. .. .. 4,321 1,041 Honoraria and allowances .. .. 1,075 1,653 Insurance .. .. .. .. 1,520 11,354 Interest .. .. .. .. 9,955 1,158 Land-tax .. .. .. 1,772 2,597 Laundry .. .. .. .. 2,964 3,160 Rates .. .. .. 3,869 9,108 Rent .. .. .. .. 8,913 6,984 Repairs and maintenance .. .. 4,882 Staff— 69,836 Salaries and wages .. .. .. 78,994 1,738 Superannuation .. .. .. 2,042 8,092 Sundry trading expenses .. .. 6,371 . 95 Unauthorized expenditure .. .. 112 , 127,138 130,774 138,967 34,216 Net profit .. .. .. .. .. 58,280 £164,990 £197,247 £164,990 £197,247 (Figures adjusted to the nearest pound.)

6