B—l [PT. IV]

LAND FOR SETTLEMENTS ACCOUNT—continued CHEVIOT ESTATE ACCOUNT (Subsidiary to Land for Settlements Account) Revenue Account for the Year ended 31st March, 1942 Dr. £ Cr. £ Interest on loan capital .. .. .. .. 5,632 Rents, &c. .. .. .. .. .. 15,366 Interest on accumulated funds held .. .. .. 6,610 Interest on sales: Land and buildings .. .. 1,320 Administration expenses .. .. . . .. 784 Interest on investment in Public Debt Redemption Fund 178 Rebates .. .. .. . . .. . . 1,455 Remissions of rent and interest . . .. .. 39 Balance (profit for year) carried down .. .. 2,344 £16,864 £16,864 £ £ Transfer to Reserve Account .. .. .. 2,344 Balance brought down .. .. .. .. 2,344 Balance-sheet as at 31st March, 1942 Liabilities Assets Capital— £ £ Land— £ £ Loans: 3J per cent. .. .. .. 160,918 Leased.. .. .. .. .. 316,869 Accumulated funds .. .. .. 464,316 Unlcased .. .. .. .. 325 317,194 625,234 Sales debtors (not yet payable)— Less cash paid to Land for Settlements Land .. .. .. .. 23,134 Account .. .. .. .. 303,065 Buildings . . .. .. . . 174 322,169 23,308 Reserve Account .. .. .. .. 18,647 Sundry debtors— Interest on loans accrued but not due .. .. 1,373 Principal instalments : Sale of land .. .. 4 Rents, &c., accrued but not duo .. .. .. 4,894 Interest on sales of land .. .. .. .. 6 Rents paid in advance .. .. .. .. 15 Rent .. .. .. .. .. .. 1,583 Postponed rent .. .. .. .. .. 60 Interest accrued but not due .. .. .. 312 Investments in Public Debt Redemption Fund .. 4,631 £347,098 £347,098 R. G. Macmorran, Under-Secretary for Lands. G. I. Beeson, Chief Accountant. HUTT VALLEY LAND SETTLEMENT ACCOUNT (Subsidiary to Land for Settlements Account) Profit and Loss Account for the Year ended 31st March, 1942 Dr. £ Cr. £ Administration expenses .. .. .. .. 492 Gross profit on sales of land .. .. .. 740 Interest, &c., written off .. .. .. .. 121 Interest on sales, &c. .. .. .. .. 4,631 Rebates .. .. .. .. .. .. 25 Miscellaneous expenditure .. .. .. .. 13 Balance (profit for year) transferred to Profit and Loss Appropriation Account .. .. .. .. 4,720 £5.371 £5,371 Profit and Loss Appropriation Account for the Year ended 31st March, 1942 Dr. £ Cr. £ Balance carried forward: Profit earned to 31st March, Balance brought forward .. .. .. 188,578 1942 .. .. .. .. .. .. 193,298 Profit for year transferred .. .. .. 4,720 £193,298 £193,298 Balance-sheet as at 31st March, 1942 Liabilities Assets £ Moneys provided by Land for Settlements £ £ Land on hand .. .. .. .. .. 31,800 Account for'— Sales debtors (not yet payable) .. .. .. 90,265 Purchase of land .. .. ..164,982 Sundry debtors—.. .. £ Street-formation .. .. .. 206,888 Instalment principal .. .. .. 2,901 Incidental expenses .. .. .. 21,855 Instalment interest .. .. .. 2^767 393,725 Rents .. .. .. .. '71 Interest on capital provided .. .. .. 81,666 g 739 Interest accrued but not due .. .. .. 390 475,391 Profits transferred to Railways Department— Less deductions under section II (2) of Finance Act, Profits realized in cash and paid to Railways 1932 .. .. .. .. 475,378 Department .. .. .. 29,981 Balance unpaid on area taken for workshops 26,389 Due to Land for Settlements Account .. .. 13 5y 37Q Instalments paid in advance .. .. .. 70 Losses in Suspense .. ... .. .. '1,5 Rent accrued but not due .. .. .. .. 2 Land for Settlements Account: Funds on hand Writing-ofl in Suspense .. .. .. .. 15 available for disposal under section 11 of Profit and Loss Appropriation Account .. .. 193,298 Finance Act, 1932 .. .. .. .. 8 819 £193,398 £193,398 R. Gr. Macmorran, Under-Secretary for Lands. G. I. Beeson, Chief Accountant.

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