Kiwi Co-operative Dairies, Limited. Annual Report and Accounts for the year ended 31 May 1992 (2024)

OCR
	ge Ro eee Directors 2 Notice of Meeting 3 Facts at a Glance 4&5 Directors’ Report 6&7 Exp[...]es 12 Notes on Revenue Statement & Balance Sheet 13, 14, 16, 16, 17 Auditors’ Report 18 MAF Stateme[...]rogress Chart 21 Production by Areas 22 Area Map 23 Directory 24
	RE eee Mr M. B. ROBERTS Mr T. H. GIBSON Ward 3 Ward 5 Mr P. G. MARTIN Ward 2 Mr N. A. SCHRIDER Ward 1 (Chairman) Ward 3 A ® \| Mr S. W. BAILEY Ward 3 Mr R. 8. WILSON Ward 2° M[...]
	a NOTICE OF MEETING REGISTERED OFFICE 23 Regent Street, Hawera. AUTHORISED CAPITAL $20 mil[...]tors and Statement of Acceunts for the year ended 31 May 1992 and report of the Auditors thereon. 2.[...]or to fill the vacancy in each of the Wards 1, 2, 3 and 4 where Directors retire by rotation. 2. To[...]lum and Dallas as Auditors, pursuant to Section 163 (3) of the Companies Act 1955. 5. To author[...]
	[...]Finest Grade Milk bye 1992 610.000 90.000 $356,650,053 $10,503,755 $83,924,099 44,749,018 13,844 4,415,115 26,672 36,386 34,055 10,322 1,652 27,088 B.Ar? 3.810 98.902 A GLANCE c/kg c/kg kg kg Litres ([...]Tonnes kg % % % 1991 - 450.000 80.000 $261,593,481 $11,636,809 $82,315,029 39,465,259 6,518 4,306,010 24,854 28,173 34,394 7,315 1,638 24,094 5,082 3.725 98.397 c/kg c/kg kg kg Litres (4/11/90) Ton[...]
	[...]ccounts relating to operations for the year ended 31 May 1992. PRODUCTION As aresult of extremely fa[...]luding town milk, was 44,749,018 kg compared with 39,465,259 kg the previous year, an increase of 5,283,759 kg or 13.4%. PAYOUT 1990/91 The payout provided in the 1[...]at and protein basis is; 1991/92 1990/91 Milkfat 304.36 230.00 Protein 507.26 383.78 Volume Charge 3.50 3.50 Accordingly, the season's declared pay[...]
	[...]share issue, which will be made during the 1992/93 season, will be based on the highest milkfat production of either the 1991/92 or 1992/93 seasons. Shareholders are requested to note that[...]are - Ward 1 B. A. Smith Ward 2 P. G, Martin Ward 3 T. H. Gibson Ward 4 A. J, Dravitzki Messrs Smith[...]d the Company on the South ‘Taranaki Veterinary Club. Prior to joining the Kiwi Company, Mr MacDonald was a Director of the Awatuna Company for 9 years, serving 3 of those as Chairman. He retires from offi[...]
	[...]%) Depreciation (5.4%) Packing (3.8%) Collection (3.0%) \| Administration (2.3%) 1990 / 1991 Surplus (77.0%) Manufactur[...]
	FOR YEAR ENDED 31 MAY 1992 Revenue Purchasing & Trading Costs Gr[...]ined earnings carried forward Note Group 1992 1 356,650,053 65,652,430 290,997,623 2 18,361,727 272,635,896 221,807,639 51,461,370 628,825 273,597,834 (961,938) 0 1,657,546 3 (2,619,484) $ 0 36,578,657 8 (5,000,000) 0 (32,499) $31,546,157 a CONSOLIDATED REVENUE & APPROPRIATION STATEMENT Group 1991 261,593,481 64,644,500 196,948,981 15,020,909 181,928,072 140,194,660 37,399,006 596,987 178,190,653 3,737,419 484,000 2,592,447 463,217 $ 197,755 29,084,993 7,580,676 (286,903) 197,755 2,136 Se OR, $36,578,657
	10 a CONSOLIDATED BALANCE SHEET AS AT 31 MAY 1992 PA[...]1,562 9,550 1,562 9,550 Capital Reserve 5 18,552,394 13,546,977 13,554,289 13,648,871 Asset Revaluation Reserve 6 602,415 602,415 662,415 662,415 Asset Use Payment Reserve 7 33,173,081 31,616,535 33,173,081 31,515,535 Provision for Merger Costs 8 5,000,000 5,000,000 Retained Earnings 9 _ 31,594,646 36,640,376 31,546,157 36,578,657 TOTAL SHAREHOLDERS' FUNDS $83,924,098 $82,314,853 $83,937,504 $82,315,028 CURRENT ASSETS Cash and Bank Balance 61,476 22,799,037 549,640 23,636,807 Debtors 10 41,205,471 11,051,404 39,778,299 9,930,761 Inventories it 11,869,539 10,445,469 12,123,308 10,761,074 Current Portion - Mortgages & Advances 13 32,882 98,000 32,882 112,000 Taxation 2,700,000 498,086 2,703,921 500,464 Future Tax Benefit 3 2,115,607 211,267 2,156,268 238,967 TOTAL CURRENT ASSETS 57,984,975 45,103,263 57,344,318 45,180,073 FIXED ASSETS 12 146,712,520 95,876,838 150,069,475 99,206,000 INVESTMENTS 13 3,132,568 4,145,569 1,250,816 1,576,364 INTANGIBLE ASSETS 14 0 Q 120,058 32,800 TOTAL ASSETS 207,830,063 145,125,670 208,784,667 145,995,237 LESS CURRENT LIABILITIES Bank Overdraft (Secured) 5,969,043 0 5,969,043 0 Creditors 15 106,461,117 50,364,484 107,402,315 51,233,876 Current Portion Term Liabilities 17 972,049 809,524 972,049 809,524 TOTAL CURRENT LIABILITIES 113,402,209 51,174,008 114,343,407 52,043,400 LESS TERM LIABILITIES Provision for Repayment[...]0,800 8,542,000 Term Loans (Secured) i? 2,002,956 3,094,809 2,002,956 3,094,809 TOTAL LONG TERM LIABILITIES 10,503,756 11,636,809 10,503,756 11,636,809 TOTAL LIABILITIES 123,905,965 62,810,817 124,847,163 63,680,209 NET ASSETS $83,924,098 $82,314,853 $83,937,504 $82,315,028 M.B. ROBERTS E.J. YOUNG
	¢ CONSOLIDATED STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31 MAY 1992 Group 1992 Receipts from customers 331,695,654 Payments to suppliers, vendors, employees (302,908,509) Taxes paid (1,462,192) Net cash flow from Operating Activities 27,324,953 Proceeds of fixed assets (120,180) interest recei[...]vestments (50) Decrease in Mortgages and advances 391,996 Dividends received 24,847 1,157,693 Purchase of fixed assets (67,036,808) ncrease in Mortgages and advances 0 Purchas[...]plementary cost allowance 0 Deposit accounts 498,932 Advance Moa Nui 11,000,000 11,498,932 nterest paid (744,514) Reduction of Share Capita[...]e/decrease in cash (29,056,208) Add opening cash 23,636,807 Closing cash balance ($5,419,401) Group 1991 287,370,272 (271,499,804) (1,202,000) 14,668,468 265,913 1,111,995 13,465 99,031 14,031 1,504,436 (12,031,792) 0 (10,277) (10,537,634) 484,000 286,667 0 770,667 (725,192) 0 (768,829) (723,354) 3,407,480 20,229,327 $23,636,807 11
	[...]1992 GROUP 1991 Note 1 - REVENUE Trading Revenue 32,899,906 37,132,291 Manufacturing Revenue 322,592,162 223,082,598 Dividends 24,847 14,031 Interest Received 873,309 1,101,251 Rebates 259,829 263,310 Total Revenue $356,650,053 $261,593,481 Note 2 - OTHER EXPENSES Audit fees 45,222 30,759 Corporate Overheads 1,085,389 927,623 Depreciation 16,181,017 12,947,412 Directors Fees and Expenses 265,238 226,277 Interest Expense - Term Loans 173,272 232,171 - Other 871,242 484,309 Other Expenses 40,352 172,358 Total Other Expenses $18,361,727 $15,020,909 Note 3 - TAXATION Operating Surplus Before Tax 1,657,546 2,592,447 Surplus on Material Reserve (32,499) 2,136 Taxation (2,619,484) 463,217 Current Year Result 0 (89,148) Taxable Income (994,437) 2,968,652 Taxation @33% (328,164) 979,655 Add/Deduct Tax effect of Permanent Differences (1,569,505) (79,933) Prior Period Adjustment (721,815) Loss Carried Forward (436,505) TAX CHARGE AS PER ACCOUNTS (2,619,484) 463,217 FUTURE TAXATION BENEFIT Balance 1 June 1991 238,697 Current Year Movement 1,897,670 238,697 Prior Period Adjustment 19,901 Balance $2,156,268 $238,697 1992 1991 1992 1991 PARENT PARENT GROUP GROU[...]the Excess Asset shares is being held in trust. 13
	[...]PARENT GROUP GROUP Note 11 - INVENTORIES Produce 3,852,323 2,468,000 3,852,323 2,468,000 Trading 614,798 609,880 868,567 925,485 Materials, Stores 7,402,418 7,367,589 7,402,418 7,367,589 Total Inventories $11,869,539 $10,445,469 $12,123,308 $10,761,074 Note 12 - FIXED ASSETS PARENT ACCUM N.B.V COST DEPREC N.B.V 1991 Land 768,322 0 768,322 263,383 Buildings 37,467,755 4,890,279 32,577,476 26,958,617 Plant 174,016,902 85,968,470 88,048,432 58,423,000 Motor Vehicles 8,516,070 5,228,264 3,287,806 2,270,000 Vats 8,573,834 3,890,924 4,682,910 4,229,000 Furniture & Fittings 1,746,809 1,107,555 639,254 781,000 Capital Work in Progress 16,708,320 0 16,708,320 2,951,838 $247,798,012 $101,085,492 $146,712,520 $95,876,838 ACCUM N.B.V GROUP COST DEPREC N.B.V 1991 Land 848,619 0 848,619 848,619 Buildings 38,422,919 4,932,852 33,490,067 27,369,381 Plant 177,186,314 86,851,079 90,336,235 60,661,000 Motor Vehicles 8,741,785 5,390,108 3,351,677 2,349,162 Vats 8,573,834 3,890,924 4,682,910 4,229,000 Office Furniture 1,783,725 1,131,078 652,647 797,000 Capital Work in Progress 16,708,320 0 16,708,320 2,961,838 262,265,516 102,196,041 $150,069,475 $99,206[...]st capitalised for the year for the group totals $369,000 (1991 - nil). 1992 1991 1992 1991 PARENT PARENT GROUP GROUP Note 13 - INVESTMENTS Investments, Mortgages & Advances - Subsidiary 0 194,000 0 0 - Other 32,882 192,053 80,738 243,190 Shares in Subsidiary Companies 1,929,608 2,64[...]1,202,960 1,202,960 1,202,960 Total Investments $3,165,450 $4,195,013 $1,283,698 $1,446, 150 Subsidiaries % Shareholding Patea[...]ted 100% 100% 100% 100% South Taranaki Veterinary Club Limited 100% 100% 100% 100% Stratford Dist[...]
	[...]GROUP Note 14 - INTANGIBLE ASSETS Goodwill 0 0) 32,800 32,800 Brand Research 0 0 87,258 0 0 0 $120,058 $32,800 Note 15 - CREDITORS Trade Creditors 23,055,360 11,812,176 23,996,558 12,681,568 Suppliers - Milkfat Final Payment 70,753,426 37,398,909 70,753,426 37,398,909 Monies on Deposit 1,652,331 1,153,399 1,652,331 1,153,399 Moa Nui Advance 11,000,000 0 11,000,000 0 Total Trade Creditors $106,461 ,117 $50,364,484 $107,402,315 $51,233,876 Note 16 - PROVISION FOR REPAYMENT OF N[...]ars 6,000,000 6,000,000 NZ Dairy Board Loan No. 263 1975 20 years 4,500,000 4,500,000 NZ Dairy Board[...]2,000,000 $12,500,000 $12,500,000 Repayments to 31/05/92 9,524,994 8,595,667 2,975,006 3,904,333 Current Portion Payable During following 12 Mont[...],524 Term Loans - Non-current Portion $2,002,956 $3,094,809 Term loans are secured by registered cha[...]ated Capital Commitments at balance date $59,222,630 $8,427,000 Contingent Liabilities at bala[...]
	20 Suppliers at December 31 (Excluding Town Milk) Factories - Butter (Numbe[...]osed Final Payments 1992 1,652 1 fl 5 1 864,309,285 289,598 721,433 866,320,316 18,715,193 846,605,123 44,749,018 13,844 44,762,862 308,975 45,071,837 1,038,891 44,032,946 98.902% 0.707% 0.391% 5.177% 3.810% 44,749,018 494.1200 115.8800 610.0000 kg kg kg kg kg kg kg kg cents cents cents 1991 1,638 1 1 2 1 776,603,055 144,609 845,700 “TTT,5983, 304 28,103,373 749,489,991 39,465,259 6,518 © 39,471,777 330,853 39,802,630 1,472,948 ~ 38,329,682. 98.397% 0.966% 0.637% 5.082% 3.725% 39,465,259 379.7414 70.2586 450.0000 qo ESS kg kg g[...]
	[...]“Spe [OES bl \|9AT'St \| ZL6'896 QGE'EST'L =\| %ZO'V 196 Ocr'oz tez'96e'l \| PPO'ZSS'L \| %SO'E \| CELZEE[...]26h OEP LBL LE 0g WS al 11g'et oog'Zt \|sas'OzhL \|v2e'veo'l \| %I8ZL \| 6Pz'IZ 16 €% BOOEEST \| OZE'SO[...]EL \| £087 err'te SEP COLE \| BPL'SEES SoB'ErG Eve'v6S ShS'68L'0F \|O6T'89S' hh \| Sz gL tl HOBSI leve'S[...]9 B49'SE \|GL0 LSg'6e \| 65 65 iG Ke Lr \|L6L'El \| 40V0e \| 189'96 SZe'L9E ®O6'Sy \| ObS'ST 909'L2[...]
	24 o Eo COMPANY OFFICERS - 1 June 1991 to 31 May 1992 SENIOR MANAGERS General Manager - Adm[...]Treatment Manager - Powder 1 & 2 Manager - Powder 3 Finance Division Management Accountant Local Mar[...]sey), Cert. Dy. Fact. Mgt. E. N. Bennett (Retired 31/05/92) \| F. P. Kersten, Dip. Sci. (Massey). (Fr[...]hy, Hawera Westpac Banking Corporation, Hawera 23 Regent Street, Hawera

Kiwi Co-operative Dairies, Limited, Kiwi Co-operative Dairies, Limited. Annual Report and Accounts for the year ended 31 May 1992. Massey University Library, accessed 13/06/2024, https://tamiro.massey.ac.nz/nodes/view/23814

Kiwi Co-operative Dairies, Limited. Annual Report and Accounts for the year ended 31 May 1992 (2024)

References

Top Articles

Vegan Mushroom Wellington recipe

Sourdough Fish Batter Recipe (Made with Sourdough Discard) - Truesourdough.com

12 crazy (but fabulous) garden ideas from Spain

Gardens in Spain: 18 of Spain's most beautiful gardens - Helen on her Holidays

Slow Cooker Tips for Busy Weeknights

9 Genius Substitutes for Bread Crumbs

New Holland 411 Discbine Hp Requirements

The Mentor Network Single Sign-On

Birmingham National Weather Service

Michael W Smith Declaration Of Independence

Bmo Harris Bank Payoff

Student Login Prodigy

Latest Posts

45 Cauliflower Recipes To Make The Most Of Your Favorite Versatile Veggie

Gluten-Free Swedish Spice Cake Recipe a vintage classic dessert.

Article information

Author: Carlyn Walter

Last Updated: 2024-06-28T17:22:00+07:00

Views: 5878

Rating: 5 / 5 (70 voted)

Reviews: 93% of readers found this page helpful

Author information

Name: Carlyn Walter

Birthday: 1996-01-03

Address: Suite 452 40815 Denyse Extensions, Sengermouth, OR 42374

Phone: +8501809515404

Job: Manufacturing Technician

Hobby: Table tennis, Archery, Vacation, Metal detecting, Yo-yoing, Crocheting, Creative writing

Introduction: My name is Carlyn Walter, I am a lively, glamorous, healthy, clean, powerful, calm, combative person who loves writing and wants to share my knowledge and understanding with you.