Committee Reports::Interim and Final Report - Appropriation Accounts 1947 - 1948::14 July, 1950::Appendix


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Committee Reports > List of Committees > Dáil > 1950 > Committee of Public Accounts > Interim and Final Report - Appropriation Accounts 1947 - 1948

APPENDIX XXII.

THE DAIRY DISPOSAL CO. LTD., AND ASSOCIATED COMPANIES. (i) Consolidated Balance Sheet as at 31st December, 1948.

				£	s.	d.	£	s.	d.						£	s.	d.
LIABILITIES										ASSETS
Nominal Capital										Premises, Plant and Machinery, Travelling
21,120 Shares of £1 each			..	21,120	0	0				Creameries, Trade marks and goodwill					1,015,639	0	5
Issued Capital:										Motor Transport		..	..	..	24,090	0	0
20,072 Shares of £1 each			..	20,072	0	0
Less Calls in arrear		..	..	72	0	0				Sundry Debtors	..	..	..	..	374,088	8	0
							20,000	0	0
Sundry Creditors		..	..				209,962	1	4	Stocks and Stores	..	..	..	..	888,981	6	11
Department of Agriculture			..				519,957	3	0	Cash in Hand and at Bank			..	..	34,317	2	1
Bank Overdrafts		..	..				621,060	6	9
Reserve for Depreciation			..				478,480	0	0
Reserve for Losses on Realisation							146,091	7	3
General Reserve	..	..	..				53,075	14	10
Profit and Loss Account		..	..				288,489	4	3
							2,337,115	17	5						2,337,115	17	5

EINRÍ Ó FRIGHIL
M. J. HORGAN	Directors.
MICHAEL McAULIFFE

AUDITOR’S REPORT.

We have examined the foregoing Consolidated Balance Sheet as made up to 31st December, 1948. 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 as shown by the books and records of the respective Companies.

30 Westmoreland Street, Dublin.

25th April, 1949.

(Signed) KEAN & CO.,

Chartered Accountants,

Auditors.

(ii) Reconcilement showing the amount due by the Dairy Disposal Company to the Exchequer as at 31st December, 1948.

						£	s.	d.							£	s.	d.
Amount advanced by the Department of Agriculture									Amounts surrendered to Department of Agriculture
up to and including 31st December, 1948					..	1,173,502	3	9	up to and including 31st December, 1948					..	384,536	18	7
Interest accrued on sales of properties, creameries,									Expenses borne by the Exchequer in connection with
milk supplies, etc.	..	..	..	..	..	61,251	17	9	Scheme* up to 31st March, 1948				..	..	53,045	9	1
									Expenses chargeable to the Exchequer in connection with creameries acquired under the Creameries
									(Acquisition) Act, 1943		..	..	..	..	32,114	6	7
									Losses sustained on realising and reorganising
									creamery groups	..	..	..	..	..	99,008	17	0

			Balance:
			(1) Reserve for anticipated losses
			on realising properties on hands		146,091	7	3
			(2) Due to Exchequer	..	519,957	3	0
								666,048	10	3
£1,234,754	1	6						£1,234,754	1	6

* Exclusive of headquarters administration expenses.