Dr.
TABLE XXVIII
COMPANIES LIQUIDATION ACCOUNT
STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31ST MARCH 1968
616
Cr.
RECEIPTS
PAYMENTS
Balances as at 1st April 1967:
Cash at Bank
$806,509
Cash in hand ...
239 $ 806,748
Unclaimed dividends or returns of capital of Companies in Voluntary Liquidation
Dividends or returns of capitals to creditors and shareholders of Companies in Voluntary Liquidation Interest on investment for North China Daily News & Herald Ltd. (in Voluntary Liquidation) paid to Liquidators Payments to creditors of Companies in
$ 9,545
211
44
2,898
Realization of assets of Companies in Compulsory Liquidation
Creditors' deposits for sundry purposes
1,072,326
11,700
Compulsory Liquidation:
Preferential creditors
Dividends to creditors
$ 79,814
62,157
141,971
Premium and Crown Rent re Peony House West Block Ltd. Amount transferred from Companies Liquidation (C.T.) Account
780
256,900
Premium and Crown Rent:
Amount received for part payment of Accountants' fees re Tai Fong Printing Co. Ltd.
677
Interest and dividends received on investments
and deposits:
General Liquidation Account
$ 74,504
Peony House West Block Ltd.
North China Daily News & Herald Ltd.
7,049
211
81,764
Sundry, liquidation expenses of Companies in Compulsory Liquidation
Tien Yick Dyeing and Weaving Works Peony House West Block Ltd.
Official Receiver's Fees and Commission Refunds of deposits for sundry purposes Transfer of interest to general revenue Accountants' fees:
77,392
T
$ 4,790
1,283
6,073
64,086
6,899
9,050
Canton Trust Account
$255,900
Miscellaneous receipts
53
Tai Fong Printing Co. Ltd. Account
800
The New Territories Graphite Mining
Co. Ltd. Account
300
257,000
Transfer to general revenue as unclaimed balances
9,907
Placed on Deposits at Call
1,265,000
Balances as at 31.3.1968: Cash in hand
$
35
Cash at Bank
386,677
$2,233,846
386,712
$2,233,846
STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST MARCH 1968
LIABILITIES
ASSETS
$ 310,635
134,985 S 445,620
Investment re North China Daily News & Herald Ltd: £393.19.11 34% War Loan 1952 or after (book value) Deposits at Call:
$
3,857
General Liquidation Account
21;475 2,115,398 2,136,873
Peony House West Block Ltd. Grand Hotel
21,415
3,217
Deposit with Joint Miscellaneous Fund Advance Account
$1,110,000
245,000 200,000 1,555,000 (£45,000) 654,545
577
18,198
Balances as at 31st March 1968:
Cash in hand
Cash at Bank
35
386,677
$2,600,691
386,712
$2,600,691
Voluntary Liquidations: Unclaimed returns/dividends Undistributed assets
---
Compulsory Liquidations: Unclaimed dividends Undistributed assets
...
Deposit for sundry purposes Less expenses therefrom
94
(1) includes only such assets of Companies in Compulsory Liquidation as have been realized, but
(2) except for certain administrative expenses, excludes transactions relating to The Canton Trust & Commercial Bank Ltd., for which a separate statement has been prepared.
The figures in the above statement for the Investment and the Deposit with Joint Miscellaneous Fund take account of the devaluation of sterling in November 1967,
The market value of the investment as at 31st March 1968 was as follows: £393.19.11 34% War Loan 1952 or after
...
@ 50 = $2,865
Notes:
1.
The above statement:-
CERTIFICATE OF THE DIRECTOR OF AUDIT
W. HUME, Registrar General, (Official Receiver). 21st May 1968.
The above Statement of Assets and Liabilities and the accompanying Statement of Receipts and Payments have been examined in accordance with Colonial Regulation 257. I have obtained all the information and explanations that I have required, and I certify, as a result of this audit, that in my opinion the Statements are correct.
AUDIT DEPARTMENT,
Hong Kong, 26th September 1968.
D. G. BRITTON,
Director of Audit.
2.
3.