8.—13 a,

(D) Profit and Loss Account for the Year ended 31st March, 1937. £ s. d. £ s. d. Interest Account .. .. •• .. 4,154 4 6 Revenue of rented properties .. .. .. 1,409 11 10 Revenue of properties sold under agreement for sale and purchase .. .. •• 1,199 411 Balance —Loss for the year .. .. 1,545 7 9 £4,154 4 6 £4,154 4 6 £ s. d. £ s. d. Balance as at 31st March, 1936 .. .. 82,463 18 8 Transfer Reserve for bad debts .. .. 10,612 1 5 Loss for the year .. .. .. .. 1,545 7 9 Balance .. .. .. .. .. 73,397 5 0 £84,009 6 5 £84,009 6 5 Balance .. .. .. • ■ £73,397 5 0 Balance-sheet as at 31st March, 1937. Liabilities. Assets. £ s. d. £ s. d. £ s. d. £ s. d. Loan liability .. .. 492,820 0 0 Principal owing under agreements Interest due and unpaid to tor sale and purchase .. 143,537 5 5 Treasury .. .. .. 20,650 6 3 Advances to local authorities .. 1,375 0 0 Interest accrued .. .. 6,252 411 144,912 5 5 519,722 11 2 Instalments of principal overdue .. .. 7,497 16 3 Liability to Consolidated Fund in terms of section 22, Finance Act, 1926 .. 100 0 0 152,410 1 8 Liability to Discharged Soldiers Settlement Dwellings Jet .. .. .. .. 438,538 19 4 Account .. .. .. •• *316,336 8 11 Freehold land .. .. .. .. 66,714 0 1 Sundry creditors .. .. •• 5,600 18 2 Factories and Plant Capital Account .. .. 38,476 18 8 Insurance Fund .. .. .. .. 9,994 6 9 Motor-vehicle .. .. .. .. 248 9 0 Sinking Fund .. . ■ .. •• 1,808 6 4 Furniture and equipment .. .. .. 826 13 4 Construction Branch preliminary expenses .. 9,093 411 Sinking-fund investment held by Public Debt Redemption Fund .. .. .. .. 5,163 6 2f Insurance Fund Investment (Government stock) 7,000 0 0 Sundry debtors .. .. .. .. 3,836 13 8 Interest receivable— £ s. d. Overdue .. .. .. 6,921 1 1 Accrued .. .. .. 80 10 8 7,001 11 9 Rent overdue .. .. .. .. 5,097 511 Insurance premiums— £ s. d. Receivable—Overdue .. 362 5 1 Payable—Paid in advance .. 197 0 4 | 559 5 5 | Realization Suspense Account .. .. 2,065 11 11 Profit and Loss Account .. .. .. 73,397 5 0 Cash .. .. .. .. .. 43,133 4 6 £853,562 11 4 1 £853,562 11 4 * The item "Liability to Discharged Soldiers Settlement Account" represents the book value of assets taken over from that account, and will be subject to adjustment on valuation when empowering legislation is obtained. t This amount includes the sum of £3,354 10s. 10d. paid into the Sinking Fund in accordance with the Public Debt Extinction Act, 1910. R. Robertson, Chief Accountant. A. D. Park, F.I.A.N.Z. F.R.A.N.Z.,\Joint Managing Wellington, 20th August, 1937. T. N. Smallwood, / Directors. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the following comment: Assets of the Discharged Soldiers Settlement Account have been transferred to the Housing Account, without legislative authority. —J. H. Fowler, Controller and Auditor-General.

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