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Airlines Agreements Act - Ansett Transport Industries Limited - Airline activities - Financial statements-Period ended - 29 June 1974


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THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

1975— Parliamentary Paper No. 80

AIRLINE ACTIVITIES OF ANSETT TRANSPORT INDUSTRIES LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 1974

Presented pursuant to Statute 13 May 1975

Ordered to be printed 29 May 1975

THE GOVERNMENT PRINTER OF AUSTRALIA CANBERRA 1975

P r i n t e d by The A u s t r a l P r i n t i n g & P u b l is h i n g C o . , 125 H a w k e S t re e t . W e s t M e l b o u r n e , V i c ., 3003

ANSETT TRANSPORT INDUSTRIES LIMITED 1974

ANNUAL FINANCIAL REPORT TO THE MINISTER OF TRANSPORT RELATING TO THE OPERATION OF AIR SERVICES IN PURSUANCE OF CLAUSE 11

OF THE 1972 AIRLINES AGREEMENT

ANSETT TRANSPORT INDUSTRIES LIMITED

489 Swanston Street, Melbourne

10 December 1974

The Hon. C.K. Jones, M.P. Minister for Transport Parliament House CANBERRA, A.C.T. 2600

My dear Minister,

ANNUAL FINANCIAL REPORT

1 furnish herewith, pursuant to the provisions of Clause 11 of the 1972 Airlines Agreement, being the Agreement set forth in the Third Schedule to the Airlines Agreements Act 1952-1972, the required information in respect of that part of the business of Ansett Transport Industries Limited and of its subsidiary companies

relating to the operation of air services for the year ended 29 June 1974. In accordance with sub-clause 2 of that Clause, the financial information contained in this Report has been extracted from accounts of the Company which have been audited as required by the provisions of the Companies Act 1961 of the

State of Victoria and has been certified as to correctness by two Directors of the Company. The financial statements included in this Report have been prepared in similar form to the complete published accounts of the Ansett Transport Industries Limited

Group, a copy of which is also tendered for your information.

Yours sincerely,

R.M. Ansett

Chairman and Managing Director

STATEMENT BY DIRECTORS

We, Reginald Myles Ansett and Frank PascoE, being two Directors of Ansett Transport Industries Limited, do hereby state that:

(i) The attached Balance Sheet and Profit and Loss Statement of the Airline activities of the Ansett Transport Industries Limited Group have been compiled from the accounts of the Company that have been audited as required under the provisions of the Companies Act 1961 of the State of Victoria as amended. (ii) The attached Balance Sheet is drawn up so as to exhibit a true and fair view of the

affairs of the Airline activities of the Ansett Transport Industries Limited Group at 29 June 1974, and the attached Profit and Loss Statement is drawn up so as to exhibit a true and fair view of the results of the business of the Airline activities of the Ansett Transport Industries Limited Group for the year ended that date.

Melbourne 10 December 1974

R.M. Ansett

Chairman and Managing Director F. Pascoe Director

ACTIVITIES OF ANSETT TRANSPORT INDUSTRIES LTD GROUP

WHAT WE OWN — OUR ASSETS Cash at Bank, and on Deposit . . . .

Debtors and P r e p a y m e n t s .....................................

Stocks, Stores and Work in Progress . . .

Amounts Owning by Related Companies . .

$ 406 299

.2 7 741 929 . 305 930

. 716811

29 670 969

I nvestm ents in other co m pa nies . . . 12212

Freehold and Leasehold Land and Buildings . Aircraft, Engines and Spares . . . .

Vehicles, Plant and Furniture . . . .

. 11 378 673 . 89 357 089 . 8311193

T otal fixed assets ..................................... 109 046 955

D eferred e x p e n d i t u r e ..................................... . 639 354

T otal a s s e t s ........................................................ 139 369 490

L ess what we owe — our liabilities Bank Overdraft and Letters of Credit — Secured Trade Creditors ...............................................

Sundry Creditors and Accruals . . . .

Provision for Income T a x .....................................

Provision for Long Service Leave . . .

Amounts owing by Related Companies . .

. 3 391 810 . 23 081 643 . 12 987 892 . 5 572 629 . 6 905 364 . 1512 358

Secured Loans on Aircraft and other Assets . Sundry Creditors for Assets Acquired . .

53451 696 . 7 965 449 . 47 398

T otal PAYABLE WITHIN ONE YEAR . . . . 61 464 543

Secured Loans on Aircraft and other Assets . Sundry Creditors for Assets Acquired . .

. 28 563 236 . 108 000

T otal PAYABLE AFTER ONE YEAR . . . . 28 671 236

T otal l i a b i l i t i e s .............................................. . 90 135 779

E quals investm ent by ansett tra n spo rt ind u stries ltd $49 233 711

PROFIT AND LOSS STATEMENT

AIRLINE ACTIVITIES OF ANSETT TRANSPORT INDUSTRIES LTD GROUP

R evenue earned from Passenger Revenue and Charier Freight . . . .

M a i l ...................................

Incidental Revenue . .

L ESS COST AND EXPENSES INCURRED TO EARN THE REVENUE Remuneration of Employees ...................................

Fuels and Materials used, Services rendered and Purchased, Accommodation Expenses . . .

Government Charges and Taxes . . . .

Administration, Finance, Selling and Advertising Expenses Auditors’ R e m u n e r a t i o n ............................................

Depreciation and Amortisation of Fixed Assets . . Interest Paid to Other P e r s o n s ...................................

Additions to Sundry P r o v i s i o n s ...................................

Total Costs and Expenses Incurred . . . .

Operating profit before income tax . . .

Less Income Tax . . . . . . .

Net OPERATING PROFIT AFTER INCOME TAX . . Profit on Disposal of Assets . . . . .

Profit on Foreign Exchange Fluctuation . . .

Profits available for appropriations Amount of Year’s Operating Profit available . . Amount of Year’s Non-Operating Profit available .

Less appropriations To Exchange Fluctuation Reserve Total Appropriations .

$154 838 914 . 24 528 179 . 1718 845 . 7 539 196

$188 625 134

. 66 995 291

. 37 305 306 . 25 690 791 . 23 430 334 . 68 994

. 17 158 078 . 5 333 402 . 2 818 847

178 801 043

. 9 824 091

4 949 473

4874 618 . 7 039 1 193 049

4 874618 1 200 088

6 074 706

2015 380 2 015 380

Profits available for distribution to parent company . $4 059 326

( R 7 4 / 2 7 3 1) Η Code: HP 8 0 / 7 5 R e co m m en de d retail price 15 cents