CO129-555-1 Hong Kong Tramways Ltd.- petition 10-7-1935 - 4-10-1935 — Page 94

748

HONGKONG TRAMWAYS LIMITED.

DR.

WORKING ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER, 1934.

CR.

$

TO POWER EXPENSES

148.666.08

BY TRAFFIC RECEIPTS

TRAFFIC EXPENSES

285,142.13

MAINTENANCE AND REPAIRS

201.371.99

GENERAL EXPENSES

ILL

$204,807.00

AND DIRECTORS' FEES ...

---

13.000.00

217.807.00

Working EXPENSES

S852.987.19

DEPRECIATION OF TRACK. ROLLING STOCK.

PLANT. CABLES, ETC.. ETC.

---

IIT

rii

--

159.877.00

ROYALTY PAYABLE TO HONGKONG GOV.

ERNMENT, 5% ON WORKING PROFIT

BALANCE CARRIED DOWN

44.478.84

645.097.92

$1,902,440.95

HONGKONG TRAMWAYS LIMITED.

149

BALANCE SHEET AT 31ST DECEMBER, 1934.

LIABILITIES,

ASSETS.

CAPITAL:-

$

1.902.440.95

AUTHORISED AND ISSUED

650,000 SHARES OF $5 EACH. FULLY PAID

GENERAL Reserve Account:—

3.250.000.00

AS

AS AT 31ST DECEMBER. 1933

4.

...$550,000.00

TRANSFERRED AS PER PROFIT AND

Loss AccOUNT

LESS PLANT SOLD

+

++

100,000.00

650,000.00

ADD EXPENDITURE 1934

STAFF Provident Trust FuND ...

CREDITORS: —

328.162.69

TRAMWAY UNDERTAKING:-

AT COST LESS DEPRECIATION...

TRACK, ROLLING STOCK. PLANT. PROPERTY. ELECTRICAL AND

GENERAL EQUIPMENT-

AT 31ST DECEMBER. 1933 LESS DEPRECIATION 1934 ...

$2.330,806.15 156.059.00

2. 174.747.15 4.872.00

2.169.875.15 132.723.87

$2.302.599.02

S

OUTSTANDING DIVIDENDS ... 544,761.25

LESS UNCLAIMED FORFEITED

15.547.90

CONSTRUCTION

GOODWILL

EXPENSES...$103.450.00

232.000.00

AS

WRITTEN DOWN

-29,213.3$

GOVERNMENT ROYALTY 1934 ...

44.479.84

TO 31.12.33...

LESS WRITTEN-OFF 1934 68.000.00

...$335.450.00

267.450.00

2.570,049.02

SUNDRY

...108.949.52

51,902,440.95

PROFIT ANd Loss Account:—

BALANCE AS PER STATEMENT ...

599.220.84

182.641.71

HOUSE & OTHER PROPERTY:-

AS AT 31ST DECEMBER, 1933 LESS DEPRECIATION 193.4

...5307.189.10

3.818.00

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER, 1934.

TO DONATIONS

475.00 By WorkING

ACCOUNT

BALANCE

AS PER

STATEMENT

LLE

---

845.097.92

BALANCE-BEING PROFIT FOR THE YEAR

945.529.26

Investment, IntereST & SUNDRY INCOME AND Unclaimed DIVIDENDS FORFEITED

100,906.34

$946,004.26

$948.004.26

INTERIM DIVIDEND 1934, PAID 23RD

AUGUST, 1934 ...

LII

325,000.00

AMOUNT WRITTEN-OFF GOODWILL AND

NET PROFIT FOR 1934. AS SHOWN

BALANCE BROUGHT FORWARD

FROM LAST YEAR...

945.329.28

•

...5699.191.58

CONSTRUCTION EXPENSES

68.000.00

TRANSFER to General Reserve AccouNT

BALANCE. AS PER BALANCE SHEET

100,000.00

LESS FINAL DIVIDEND 1933.

PAID 16TH FEBRUARY, 1934 ... 552.500.00

A. B. STEWART

146,69 1.58

DIRECTORS.

399.220.84

C. GORDON MACKIE|

$1,092.220.84

$1,092.220.94

303.370.10

ADD EXPENDITURE 1934 ***

2.102.74

305.472.84

STOCK OF STORES:-

AS PER

INVENTORY SIGNED BY GENERAL MANAGER AND THE SECRETARY

177,074.56

GOODS IN TRANSIT-LONDON TO HONG KONG

4.404.44

DEBTORS AND PAYMENTS IN ADVANCE

16,840.04

PROVIDENT TRUST FUND BANK ACCOUNTS IN

LONDON AND HONG KONG, PER CONTRA ...

INVESTMENTS. AT COST

328.162.69

1.149.768.32

(MARKET VALUE. 31.12.34

S1.094.500.001

CASH AT BANKERS AND IN HAND

458.253.33

55,010,025.24

$5.010.025.24

AUDITORS' REPORT.

W. F. SIMMONS. SECRETARY.

WE REPORT THAT WE HAVE EXAMINED THE ACCOUNTS OF HONGKONG TRAMWAYS LIMITED, FOR THE YEAR ENDED 31ST DECEMBER. 1934.

WE HAVE OBTAINED ALL THE INFORMATION AND EXPLANATIONS WE HAVE REQUIRED AND, IN OUR OPINION, THE ABOVE BALANCE SHEET IS PROPERLY DRAWN UP SO AS TO EXHIBIT A TRUE AND CORRECT VIEW OF THE STATE OF THE COMPANY'S AFFAIRS ACCORDING TO THE BEST OF OUR INFORMATION AND THE EXPLANATIONS GIVEN TO US, AND AS SHOWN

BY Books OF THE COMPANY.

THE

HONG KONG. 6TH FEBRUARY, 1935.

LOWE, BINGHAM & MATTHEWS. CHARTERED ACCOUNTANTS.