B.—l [Pt. IV

82

STATU ADVANCES OFFlCE— continued. ADVANCES TO WORKERS BRANCH. Statement of Liabilities and Assets as at 31 st March, 1923. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 2,407,340 11 1 Investment Account —Principal owing by mortTemporary advances from Sottlors Branch .. 845,000 0 0 gagors .. .. .. .. .. 3,253,025 19 1 Interest on loans accrued but not due '.. 25,074 17 5 Sinking Fund investments held by— Advances Suspense Account .. .. 42,805 10 6 Advances Office Sinking Fund * £ s. d. Suspense Account .. .. .. .. 368 12 0 Account .. .. 61,487 19 2 Income-tax Suspense Account .. .. 5,107 7 8 Public Debt Sinking Fund Sundry creditors .. .. .. .. 326 4 9 Branch .. .. 6,464 14 7 Sinking Fund .. .. .. .. 49,727 18 0 *67,952 13 9 Reserve Fund .. .. .. .. 8,754 18 6 Interest on mortgagesOverdue .. .. 11,768 13 5 Accrued .. .. 35,975 9 847,744 3 1 Insurance Premium Account .. .. 128 12 0 Sundry debtors .. .. .. .. 513 1 Loan Charges Account .. .. .. 10,999 17 0 Realization Account .. .. .. 62 3 9 Cash in hand and in bank at 31st March, 1923.. 4,592 18 2 £3,384,511 19 11 £3,384,511 19 11 * This amount includes the sum of £18,224 15s. 9d. capital paid into the sinking funds under the provisions of the State Advances Act. Statement of Profit and Loss Account for the Year ended 31st March, 1923. Dr. £ s . d. Cr. £ s. d. To Management Expenses Account .. .. 3,830 19 7 By Intorest Account —Gross profits .. .. 15,559 17 5 Loss on realization of securities and doubtful securities written down .. .. .. 500 13 1 Balance—Not profits for the year .. .. 11,228 4 9 £15,559 17 5 £15,559 17 5 £ s. d. £ s. d. To Income-tax .. .. .. .. 1,500 0 0 By Net profits for the year .. .. .. 11,228 4 9 Loan-flotation chargos written down .. 500 0 0 Sinking fund invested in Public Debt Branch.. 1,064 0 10 Balance—Net profits transferred to Reserve Fund .. .. .. .. .. 8,164 311 £11,228 4 9 £11,228 4 9 Statement of Interest Account for the Year ended 31st March, 1923. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. cl. To Interest on loans .. .. 95,881 8 0 By Intorest on mortgages .. 129,118 0 1 Loss accrued at 31st March, Less interest overduo and 1922 .. .. 25,262 9 9 accrued at 31st March, 1922 41,211 15 9 70,618 18 3 87,900 4 4 Intorest on amounts temporarily transferred Interest on bank balances ... .. .. 19 1.7 0 from Settlors Branch .. .. .. 24,410 11 10 Intorest on mortgages — Interest on loans accrued but not due .. 25,074 17 5 Overdue at 31st March, 1923 11,768 13 5 Balance —Gross profits transferred to Profit Accruod but not due at 31st and Loss Account .. .. .. 1.5,559 17 5 March, 1923 .. .. 35,975 9 8 47,744 3 1 £135,670 4 11 £135,670 4 11 Statement of Management Expenses Account for the Year ended 31st March, 1923. Dr. £ s. d. Or. £ s. d. To Audit Office services .. .. .. 150 0 0 By Cost of preparation of mortgages .. .. 110 0 0 Cleaning, lighting, heating, and messenger sor- Inspection fees .. .. .. .. 5 5 0 vices .. .. .. .. .. 100 0 0 Production fees .. .. .. .. 298 15 0 Contingencies .. .. .. .. 0 3 5 Release fees .. .. .. .. 90 8 8 Management charges on New Zealand stock and Balance transferred to Profit and Loss Account 3,830 19 7 bonds .. .. .. .. .. 412 2 7 Post Offico services .. .. .. 450 0 0 Postagos and telegrams .. .. .. 148 3 1 Printing and stationery .. .. .. 200 0 0 Rent .. .. .. .. .. 175 0 0 Salaries .. .. .. .. .. 2,351 0 0 Solicitors' costs .. .. .. .. 5 5 8 Valuation Department—Agency work .. 350 0 0 £4,341 14 9 £4,341 14 9 Wm. Waddel, Superintendent. R. Robertson, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —G. F. C. Campbell, Controller and Auditor-General.