Committee Reports::Report - Appropriation Accounts 1953 - 1954::20 June, 1956::Appendix


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Committee Reports > List of Committees > Dáil > 1956 > Committee of Public Accounts > Report - Appropriation Accounts 1953 - 1954

APPENDIX XI.

THE DAIRY DISPOSAL CO., LTD., AND ASSOCIATED COMPANIES. Consolidated Balance Sheet as at 31st December, 1954.

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					..	1,788,128	3	8
Issued Capital:									Motor Transport	..	..	..	..	..	47,507	19	11
20,072 Shares of £1 each		..	..	..	..	20,072	0	0
Sundry Creditors	..	..	..	..	..	314,315	8	0	Sundry Debtors	..	..	..	..	..	624,305	16	8
Department of Agriculture			..	..	..	509,791	15	5
Bank Overdrafts Less Cash on Hands				..	..	1,178,028	14	6	Stocks and Stores	..	..	..	..	..	1,249,740	6	5
Reserve for Depreciation			..	..	..	836,745	0	0
Reserve for Losses on Realisation				..	..	145,887	7	1
General Reserve	..	..	..	..	..	105,525	14	10
Profit and Loss Account		..	..	..	..	599,316	6	10
						£3,709,682	6	8							£3,709,682	6	8

(Signed) EINRI Ó FRIGHIL, (Chairman),

J. HENNIGAN, (Director).

AUDITORS’ REPORT.

We have examined the foregoing Consolidated Balance Sheet as made up to 31st December, 1954. 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.,
23rd May, 1955.	Chartered Accountants,
	Auditors.

Reconcilement showing the amount due by the Dairy Disposal Company to the Exchequer as at 31st December, 1954.

					£	s.	d.								£	s.	d.
Amount advanced by the Department of Agriculture								Amounts surrendered to Department of Agriculture
up to and including 31st December, 1954*				..	1,173,502	3	9	up to and including 31st December, 1954						..	395,191	16	11
Interest accrued on sales of properties, creameries,								Expenses borne by the Exchequer in connection with
milk supplies, etc.	..	..	..	..	62,032	15	6	Scheme up to 31st March, 1954			..	..	..	..	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	17	2
								Balance:
								(1) Reserve for anticipated losses on realising properties on
								hands	..	..	..	£145,887	7	1
								(2) Due to Exchequer		..	..	509,791	15	5
															655,679	2	6
					£1,235,534	19	3								£1,235,534	19	3

*Exclusive of headquarters administration expenses.