B —l [PT. IV], SUP. TO 1937.

PRIMARY PRODUCTS MARKETING DEPARTMENT—continued. INTERNAL MARKETING BRANCH. Trading Account foe Seven Months ended 31st August, 1937. Dr. £ s. d. Gr. Sundry trading charges, commissions, and trade Gross profits and commissions on trading as under — £ s. d. discounts unallocated .. .. .. 1,776 14 0 Bacon .. .. .. .. .. 4,881 511 Gross profit to Profit and Loss Account .. .. 14,132 911 Butter and cheese .. .. .. .. 6,650 22 Eggs and egg-pulp .. .. .. .. 2,840 10 2 Honey .. .. .. .. . . 367 1 1 Milk-powder .. .. .. .. 461 19 5 Pork .. .. .. .. .. 708 S 2 £15,909 3 11 £15,909 3 11 Profit and Loss Account for the Seven Months ended 31st August, 1937. Dr. £ s. d. Or. £ s. d. Advertising .. .. .. .. .. 6 13 9 Gross profit from trading .. .. .. 14,132 9 11 Audit fees .. .. .. .. .. 120 0 0 Rents receivable, &c. .. .. .. 107 12 1 Bad debts (including reserve) ...... 76 8 11 Cleaning .. .. .. .. .. 32 14 7 Sundry expenses .. .. .. . . 115 9 0 Interest .. .. .. .. .. 607 18 6 Insurance .. .. .. .. •. 146 7 7 Lighting, heating, power .. .. . . 143 4 9 Expenses, motor-vehicles .. .. .. 1,271 8 3 Rates .. .. .. .. .. 79 17 9 Telephones, postages, &c. . . .. . . 280 1 9 Stationery .. . . . . .. . . 286 16 5 Travelling-expenses . . .. .. .. 202 8 7 Wages .. .. .. .. .. 6,564 22 Depreciation . . . . .. . . 566 8 8 Reserve for liability under Workers' Compensation Act .. .. .. .. ' .. 200 0 0 Profit for period transferred to General Reserve Account .. .. .. .. .. 3,540 1 4 £14,240 2 0 £14,240 2 0 Balance-sheet as at 31st August, 1937. Liabilities. Assets. £ s. d. £ s. d. £ s. d. Dairy Industry Account .. .. .. 34,594 15 10 Sundry imprest advances .. .. 108 0 0 Sundry creditors .. .. .. .. 22,639 16 8 Sundry debtors .. .. 28,631 7 1 Moneys received on behalf of consignors, and trading Less reserve for bad debts . . 50 0 0 stocks received but not credited .. .. 26,128 11 6 28,581 7 1 Expenses accrued .. .. .. .. 220 14 4 Expenses paid on account Head Office .. .. 2,343 2 1 Reserve for liability under Workers' Compensation Stock on hand .. .. .. .. 9,979 1 6 Act .. . . .. .. .. 200 0 0 Motor-vehicles .. .. .. .. 2,373 2 9 Butter premiums received on account Head Office 6,667 910 Plant .. .. .. .. .. 2,127 6 0 General Reserve, being profit transferred .. 3,540 1 4 Property .. .. .. .. ..27,67368 Goodwill, representing eompensa- £ s. d. tion to vendors of business, paid 5,000 0 0 Actual goodwill paid .. .. 15,000 0 0 20,000 0 0 Commissions accrued and expenses paid in advance 806 3 5 £93,991 9 6 £93,991 9 6 No provision has been made for butter premiums accrued for the month of August on account of Head Office (approximately £2,900). Similarly, no provision has been made for expenses accrued on account of Head Office (approximately £120). F. R. Picot, Director. I hereby certify that the Trading Account, Profit and Loss Account, and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. The following comment is appended : Authority for the purcjiase of the business of Picot Bros, and for trading in produce other than dairy-produce is included in the Finance Bill now before Parliament.—J, H. Fowler, Controller and Auditor-General,

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