Committee Reports::Interim and Final Report - Appropriation Accounts 1943 - 1944::29 November, 1945::Appendix


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APPENDIX VII.

ACCOUNTS OF THE DAIRY DISPOSAL CO., LTD., AND ASSOCIATED COMPANIES.

Secretary,

Committee of Public Accounts.

I have to forward herewith (in duplicate) for submission to the Committee of Public Accounts:—

(1) A copy of the Consolidated Balance Sheet of the Daíry Disposal Company, Limited, and Associated Companies for the year ended 31st December, 1944; and

(2) A Reconcilement showing the amount due by the Dairy Disposal Company, Limited, to the Exchequer as at 31st December, 1944.

As regards the return which has hitherto been furnished showing the expenditure each year out of the provision in the Vote for Agriculture on the purchase of creameries since the commencement of the scheme in March, 1927, I have to state that no expenditure was charged to the Vote in the year 1943/44 and the figures in the return furnished to the Committee in connection with the 1942/43 Appropriation Accounts accordingly stand.

(Signed) D. TWOMEY,

Secretary,

12th May, 1945.

An Roinn Talmhaoíchta.

THE DAIRY DISPOSAL CO., LTD., AND ASSOCIATED COMPANIES. CONSOLIDATED BALANCE SHEET AS AT 31st DECEMBER, 1944.

				£	s.	d.	£	s.	d.							£	s.	d.
LIABILITIES.										ASSETS.
Nominal capital:										Premises, Plant and Machinery,
21,120 Shares of £1 each			..	21,120	0	0				Travelling Creameries, Trade marks and
										goodwill	..	..	..	..	..	806,492	5	10
Issued capital:
20,072 Shares of £1 each		..	..	20,072	0	0				Motor Transport		..	..	..	..	8,443	15	0
Less: Calls in arrear		..	..	72	0	0
							20000	0	0	Sundry Debtors		..	..	..	..	198,214	10	2
Sundry creditors	..	..	..				114,334	14	5
Department of Agriculture			..				697,697	1	3	Stocks and Stores		..	..	..	..	642,793	18	11
Bank Overdrafts	..	..	..				259,684	14	4
Reserve for Depreciation		..	..				358,436	14	0	Cash in Hand and at Bank				..	..	38,364	6	3
Reserve for Losses on Realisation							124,548	17	8
General Reserve	..	..	..				8,879	1	11
Profit and Loss Account		..	..				110,727	12	7
							1,694,308	16	2							1,694,308	16	2

	EINRI O FRIGHIL
Signed,	MICHAEL McAULIFFE	Directors
	M. J. HORGAN

AUDITORS’ REPORT.

We have examined the foregoing Consolidated Balance Sheet as made up to 31st December, 1944. It covers the Balance Sheets as already audited and certified by us of Newmarket Dairy Co. 1932 Ltd., Condensed Milk Co. of Ireland 1928 Ltd., Cleeves Confectionery Limerick Ltd., Northern Irish Condensed Milk Distributors Ltd., as well as the Balance Sheet of the Dairy Disposal Co. Ltd. We have received all the information and explanations we have required, and, in our opinion, such Balance Sheet is properly drawn up so as to exhibit a true and correct view of the combined state of affairs according to the best of our information and the explanations given to us and shown by the books and records of the respective Companies.

30 Westmoreland Street,	(Signed) KEAN & CO.,
Dublin.	Chartered Accountants,
27th April, 1945.	Auditors.

RECONCILEMENT SHOWING THE AMOUNT DUE BY THE DAIRY DISPOSAL COMPANY TO THE EXCHEQUER AS AT 31st DECEMBER, 1944.

							£	s.	d.								£	s.	d.
Amount advanced by the Department of Agriculture up to and including 31st December,										Amounts surrendered to Department of Agriculture up to and including 31st December,
1944*	..	..	..	..	..	..	£1,173,502	3	9	1944	..	..	..	..	..	..	265,190	10	3
Interest accrued on sales of properties, creameries										Expenses borne by the Exchequer in connection
milk supplies, etc,			..	..	..	..	57,127	8	6	with Scheme*		..	..	..	..	..	53,045	9	1
										Losses sustained on realising and reorganising
										creamery groups			..	..	..	..	90,147	14	0
										Balance:
										(1) Reserve for anticipated losses on realising				£s.d.
										properties on hands		..	..	124,548 178
										(2) Due to Exchequer			..	697,697 13
																	822,245	18	11
							£1,230,629	12	3								£1,230,629	12	3

*Exclusive of headquarters administration expenses,