Committee Reports::Report - Appropriation Accounts 1963 - 1964::10 March, 1966::Appendix


	HOME Baile
	COMMITTEE REPORTS Tuasascálacha Coistí

Committee Reports > List of Committees > Dáil > 1966 > Committee of Public Accounts > Report - Appropriation Accounts 1963 - 1964

APPENDIX XXI.

THE DAIRY DISPOSAL COMPANY LIMITED AND ASSOCIATED COMPANIES. Combined Balance Sheet as at 31st December, 1963.

Total Capital Authorised:					£	s.	d.	£	s.	d.	Fixed Assets:				£	s.	d.	£	s.	d.
20,120 Shares of £1 each				..	20,120	0	0				Goodwill as at 31st December, 1930				15,273	5	1
Capital Issued and Fully Paid:											Patents, Rights and Trade Marks			..	20,000	0	0
20,022 Shares of £1 each				..				20,022	0	0	Lands and Farms	..	..	..	49,050	0	0
Loan Capital:											Buildings and Factory Premises			..	982,661	0	0
The Department of Agriculture								584,602	16	4	Plant and Machinery		..	..	1,241,094	9	7
Capital Reserves:											Office Equipment	..	..	..	13,500	4	9
Capital Grants Reserves			..	..	95,000	0	0				Motor Transport	..	..	..	95,288	0	0
Fixed Assets Replacement											Agricultural Machinery		..	..	7,926	0	0
Reserves	..	..	..	..	557,275	0	0				Breeding Stock	..	..	..	4,276	0	0
								652,275	0	0	Trade Investments at Cost			..	3,814	0	0
Revenue Reserves and Undistributed Profits:																		2,432,882	19	5
Net Profit and Loss Account				..				936,762	18	10
											Current Assets:
								2,193,662	15	2	Stocks and Stores	..	..	..	960,456	5	11
Future Taxation:											Debtors and Unexpired Payments
Income Tax 1964/65			..	..	36,412	3	8				less Reserves	..	..	..	801,072	9	1
Deferred Tax Equalisation				..	54,475	0	0											1,761,528	15	0
								90,887	3	8
Current Liabilities and Other Provisions:											J. Hennigan, Chairman			Directors.
Bank Overdrafts less Cash in											P. J. McDermott			Directors.
Hands	..	..	..	..	1,603,588	14	6
Trade Creditors		..	..	..	280,668	13	1				C. L. Timlin, Secretary.
Income Tax 1963/64			..	..	25,604	8	0
								1,909,861	15	7
								£4,194,411	14	5								£4,194,411	14	5

AUDITORS’ REPORT.

We have examined the foregoing Combined Balance Sheet as made up to the 31st December, 1963.

It covers the Accounts already reported on by us in compliance with the Companies Act, 1963 of Cleeves Confectionery Limerick Limited, The Newmarket Dairy Company 1932 Limited, The Condensed Milk Company of Ireland 1928 Limited, as well as the Accounts of the Dairy Disposal Company Limited.

Proper books of account were kept throughout the Companies and their branches so far as appears from our examination of them, and in our opinion the above Balance Sheet agrees with these books and gives a true and fair view of the combined state of affairs according to the best of our information and the explanations we considered necessary for our audits.

30 Westmoreland Street, Dublin.	KEAN & COMPANY,
4th September, 1964.	Chartered Accountants.

RECONCILEMENT SHOWING THE AMOUNT DUE BY THE DAIRY DISPOSAL COMPANY TO THE EXCHEQUER AS AT 31st DECEMBER, 1963.

							£	s.	d.									£	s.	d.
Amount advanced by the Department of Agriculture up										Amount surrendered to Department of Agriculture up
to and including 31st December, 1963*					..	..	1,173,502	3	9	to and including 31st December, 1963					..	..	..	394,873	16	11
Interest accrued on sales of properties, creameries, milk										Expenses borne by the Exchequer in connection with
supplies, etc.	..	..	..	..	..	..	62,032	15	6	Scheme up to 31st March, 1963					..	..	..	53,363	9	1
										Expenses chargeable to the Exchequer in connection with creameries acquired under the Creameries (Acquisition)
										Act, 1943	..	..	..	..	..	..	..	32,405	13	7
										Subsidies appropriate to cover realisation losses							..	170,289	3	4
										Balance due to Exchequer			..	..	..	..	..	584,602	16	4
							£1,235,534	19	3									£1,235,534	19	3

THE DAIRY DISPOSAL COMPANY LIMITED AND ASSOCIATED COMPANIES.

Year ended 31st December, 1963.

Notes on the Combined Balance Sheet.

1. Fixed Assets: Except otherwise stated, the amounts are per the Directors’ inventory and valuation of all the assets existing at 31st December, 1963.

2. Fixed Assets Movements:					£	s.	d.	£	s.	d.
1962 Combined total at original Cost Prices					..	..		3,076,648	2	1
Less: Now classifiable in Current Assets					..	..		100	0	0
								3,076,548	2	1
Net Additions 1963			..	..	..	..		244,559	17	4
								3,321,107	19	5
Depreciation Reserve Applied 1963				..	..	..		888,225	0	0
Directors’ Valuations of 31st December, 1963					..	..		2,432,882	19	5
3. Movements in the Reserve:
General Reserves at 31st December,
1962	..	..	..	..				141,025	17	2
Transferred to Capital Grants Reserve					30,000	0	0
Transferred to Doubtful Debts
Reserve	..	..	..	..	2,000	0	0
Applied to writing off Bad Debts				..	1,525	17	2
Transferred to Fixed Assets
Replacement Reserve		..	..	..	107,500	0	0
					141,025	17	2	141,025	17	2
Depreciation Reserves at 31st
December, 1962		..	..	..				1,266,500	0	0
Reduction of Fixed Assets from Cost					888,225	0	0
Transferred to Fixed Assets
Replacement Reserve		..	..	..	378,275	0	0
					1,266,500	0	0	1,266,500	0	0

New Reserves 31/12/1963				Appropriations	Transfers	Total
Capital Grants Reserve			..	65,000	30,000	95,000
Fixed Assets Replacement
Reserve	..	..	..	71,500	485,775	557,275
Doubtful Debts Reserves			..	25,600	2,000	27,600

* Exclusive of headquarters administration expenses.