BALANCE SHEET, 31st DECEMBER 1920.
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LIABILITIES.
Estimated and Liquidated.
To Sundry Creditors, £121 3 1
To„ Brand Commettee, 26 15 8
To„ Compositon Fees, £27 8 0
To Less written off, 10 10 0
16 18 0
To„ Secretary's Poundage, 20 6 0
To„ Balance to credit of Society,* 966 17 9
£1,152 0 6
ASSETS.
By Cash at Bankers, £422 1 1
By„ Cash„ in hands of Secretary, 1 11 6
£423 12 7
By„ W. Glaisher, Ltd., Sales 1920, six months 28 6 11
By„ Subscriptions in arrear, 1920 (44), £46 4 0
By„ Subscriptions„ in arrear,„ earlier years (37), 38 17 0
85 1 0
By„ Investments as at Dec. 31st, 1920:—
£500 Canada, 312% Stock at 61, £305 0 0
£500 Natal, 312% Stock at 62, 310 0 0
615 0 0
£1,152 0 6
In addition to the above there is a large stock of Publications of the Society, and also bound copies of the Salvage Stock, of which no account is taken.
* No allowance has been made for additional volumes, 1915 to 1920 inclusive.
Examined with Vouchers and Pass Book and found correct.
I again call attention to the large amount of subscriptions in arrear, £46 4s. for 1920, and £38 17 s. for earlier years. I consider that the whole of the latter should be deleted from the Assets, and that no more than 50% of the 1920 subscriptions are good value. I consider that the Council should deal with this matter promptly as it gives a false impression of the Society's Assets.
C. J. TABOR, Hon. Auditor.
February 8th, 1921.
I am in full agreement with the Auditor's comments.
EDWARD CLODD, Hon. Treasurer.
