Committee Reports::Report - Appropriation Accounts 1946 - 1947::16 February, 1950::Appendix


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Committee Reports > List of Committees > Dáil > 1950 > Committee of Public Accounts > Report - Appropriation Accounts 1946 - 1947

APPENDIX XIII.

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

(i) Consolidated Balance Sheet as at 31st December, 1947.

				£	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	..	..	..	..	..	937,485	8	10
Issued capital:										Motor transport		..	..	..	..	19,582	9	2
20,072 Shares of £1 each			..	20,072	0	0
Less: Calls in arrear		..	..	72	0	0				Sundry debtors		..	..	..	..	335,046	12	11
							20,000	0	0
Sundry creditors		..	..				162,190	7	7	Stocks and stores		..	..	..	..	832,398	14	7
Department of agriculture			..				547,026	11	2
Bank overdrafts		..	..				572,355	18	5	Cash in hand and at bank				..	..	31,222	6	11
Reserve for depreciation			..				448,230	0	9
Reserve for losses on realisation							146,137	8	0
General reserve	..	..	..				25,075	14	10
Profit and loss account		..	..				234,719	11	8
							2,155,735	12	5							2,155,735	12	5

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

AUDITOR’S REPORT.

We have examined the foregoing Consolidated Balance Sheet as made up to 31st December, 1947. 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., Cleeve’s 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.

14th April, 1948.

(Signed) KEAN & CO.,

Chartered Accountants,

Auditors.

(ii) Reconcilement showing the amount due by the Dairy Disposal Company to the Exchequer as at 31st December, 1947.

						£	s.	d.							£	s.	d.
Amount advanced by the Department of Agriculture up to and including 31st December, 1947*					..	1,173,502	3	9	Amount surrendered to Department of Agriculture up to and including 31st December, 1947					..	310,763	8	10
Interest accrued on sales of properties, creameries,									Expenses borne by the Exchequer in connection
milk supplies, etc.	..	..	..	..	..	60,321	0	3	with Scheme*				..	..	53,045	9	1
									Expenses chargeable to the Exchequer in connection with creameries acquired under the Creameries
									(Acquisition) Act, 1943		..	..	..	..	31,837	10	11
									Losses sustained on realising and reorganising
									creamery groups	..	..	..	..	..	98,962	16	3

			Balance:
			(1) Reserve for anticipated losses		£	s.	d.
			on realising properties on hands		146,137	8	0
			(2) Due to Exchequer	..	547,026	11	2
								693,163	19	2
£1,233,823	4	0						£1,233,823	4	0

* Exclusive of headquarters administration expenses,