I have examined the above Accounts and Balance Sheet in accordance with the provisions of the Exchequer and Audit Departments Act, 1921. I have obtained all the information and explanations that I have required, and, subject to the observations in my Report, I certify, as the result of my audit, that in my opinion the Accounts and Balance Sheet are correct. For Report of the Comptroller and Auditor General see page iv. Malcolm G. Ramsay, Comptroller and Auditor General. * At 4.75 per cent., i.e., mean of the Bank rate during the year. S. 8995. £1,319,949 8 2 100.00 5 January 1927. £1,879,155 8 1 100.00 £1,879,155 8 1 100.00 O. Murray, Accounting Officer. I have are correct, I have examined the above Account and Balance Sheet in accordance with the provisions of the Exchequer and Audit Departments Act, 1921. obtained all the information and explanations that I have required, and I certify, as the result of my audit, that in my opinion the Account and Balance Sheet Malcolm G. Ramsay, Comptroller and Auditor General. On the debit side of the Profit and Loss Account appear the total costs of operating the stations, consisting of the direct charges at the Stations, plus depreciation at 7 per cent. per annum on the value of the plant, machinery, &c., and the cost of the staff employed under the Accountant-General of the Navy in the collection of the revenue. The total expense of collection (including rent. stationery, and staff), which is approximately 53 per cent. of the working expenses, has been allocated to the stations at that rate. On the credit side of the Profit and Loss Account the value of the services performed for the Admiralty is shown at cost, and is based on the number of Naval words transmitted and received. The Commercial Revenue is received in gold francs converted at the par of exchange. As the Stations were erected for Naval purposes, the commercial work being only a by-product, interest on capital values has not been taken into consideration in the Profit and Loss Account. 17 February 1927. 0. Murray, Accounting Officer. I have examined the above Account in accordance with the provisions of the Exchequer and Audit Departments Act, 1921. I have obtained all the information and explanations that I have required, and I certify, as the result of my audit, that in my opinion the account is correct. ADMIRALTY. CASKS AND COOPERAGE ARTICLES (HOME YARDS AND MALTA). SUMMARY OF THE ARTICLES MANUFACTURED IN THE VICTUALLING I have examined the above statements in accordance with the provisions of the Exchequer and Audit Departments Act, 1921. I have obtained all the information and explanations that I have required, and I certify, as the result of my audit, that in my opinion the statements are correct. Malcolm G. Ramsay, Comptroller and Auditor General. |