Committee Reports::Report - Appropriation Accounts 1952 - 1953::30 March, 1955::Appendix


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Committee Reports > List of Committees > Dáil > 1955 > Committee of Public Accounts > Report - Appropriation Accounts 1952 - 1953

APPENDIX XIX.

THE DAIRY DISPOSAL CO., LTD., AND ASSOCIATED COMPANIES. Consolidated Balance Sheet as at 31st December, 1953.

LIABILITIES.									ASSETS.
			£	s.	d.	£	s.	d.							£	s.	d.
Nominal Capital:									Premises, Plant and Machinery, Travelling
21,120 Shares of £1 each		..	21,120	0	0				Creameries, Trade Marks and Goodwill					..	1,648,993	3	5
Issued Capital:									Motor Transport	..	..	..	..	..	46,409	5	9
20,072 Shares of £1 each		..	..	..	..	20,072	0	0
Sundry Creditors	..	..	..	..	..	348,898	13	7	Sundry Debtors	..	..	..	..	..	628,887	9	3
Department of Agriculture			..	..	..	509,782	11	11
Bank Overdrafts Less Cash on Hands					..	1,349,870	9	5	Stocks and Stores	..	..	..	..	..	1,537,162	18	0
Reserve for Depreciation			..	..	..	795,745	0	0
Reserve for Losses on Realisation				..	..	145,887	16	0
General Reserve	..	..	..	..	..	105,525	14	10
Profit and Loss Account		..	..	..	..	585,670	10	8
						£3,861,452	16	5							£3,861,452	16	5

	ÉINRÍ Ó FRIGHIL
(Signed)	M. B. McAULIFFE	Directors.
	M. J. HORGAN

AUDITOR’S REPORT.

We have examined the foregoing Consolidated Balance Sheet as made up to 31st December, 1953. 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.	KEAN & CO.,
11th May, 1954.	Chartered Accountants,
(Pr. 2490)	Auditors.

Reconcilement showing the amount due by the Dairy Disposal Company to the Exchequer as at 31st December, 1953.

						£	s.	d.							£	s.	d.
Amount advanced by the Department of Agriculture									Amounts surrendered to Department of Agriculture
up to and including 31st December, 1953*					..	1,173,502	3	9	up to and including 31st December, 1953					..	395,191	16	11
Interest accrued on sales of properties, creameries,									Expenses borne by the Exchequer in connection
milk supplies, etc.	..	..	..	..	..	62,023	12	0	with Scheme up to 31st March, 1953*					..	53,045	9	1
									Expenses chargeable to the Exchequer in connection with Creameries acquired under the Creameries
									(Acquisition) Act, 1943		..	..	..	..	32,405	13	7
									Losses sustained on realising and reorganising
									creamery groups	..	..	..	..	..	99,212	8	3
									Balance:
									(1) Reserve for anticipated losses on realising properties on
									hands		..	£145,887	16	0
									(2) Due to Exchequer		..	509,782	11	11
															655,670	7	11
						£1,235,525	15	9							£1,235,525	15	9

*Exclusive of headquarters administration expenses.