asked the Minister for the Gaeltacht the profit or loss as the case may be for each State-sponsored body or company for which he is responsible for the last available year, stating such year; whether in each case depreciation was charged before the extraction of the profit or loss figure; and, in any case in which no such depreciation was charged, the amount of depreciation which he considers should have been charged if adequate profit was available, according to normal commercial practice.
Written Answers. - Finances of State-Sponsored Bodies.
57.
Following is the information:
Gaeltarra Éireann: Caillteanas trádála don bhliain dar chríoch 31 Márta, 1966, £160,751, tar éis díluachadh (£31,447) a chur san áireamh.
Arramara Teoranta: Brabús don bhliain dar chríoch 30 Meán Fómhair, 1966, £5,517, tar éis díluachadh (£2,508) a chur san áireamh.
58.
asked the Minister for Labour the profit or loss as the case may be for each State-sponsored body or company for which he is responsible for the last available year, stating such year; whether in each case depreciation was charged before the extraction of the profit or loss figure; and, in any case in which no such depreciation was charged, the amount of depreciation which he considers should have been charged if adequate profit was available, according to normal commercial practice.
There are two State-sponsored bodies for which I am the responsible Minister, the Labour Court and An Chomhairle Oiliúna. Neither of these bodies is engaged in trading operations. The information sought by the Deputy does not, therefore, arise in these cases.
59.
asked the Minister for Finance the profit or loss as the case may be for each State-sponsored body or company for which he is responsible for the last available year, stating such year; whether in each case depreciation was charged before the extraction of the profit or loss figure; and, in any case in which no such depreciation was charged, the amount of depreciation which he considers should have been charged if adequate profit was available, according to normal commercial practice.
The following is the information requested:
Profit or loss of State-sponsored body or company, for which the Minister for Finance is responsible, for the latest accounting year.
|
Body or Company |
Year ended |
Profit (+) Loss (-) |
Whether depreciation charged |
|
£ |
|||
|
Agricultural Credit Corporation Ltd. |
30/4/66 |
+95,410 |
Yes |
|
Central Bank |
31/3/67 |
+4,490,714 |
Yes |
|
Cómhlucht Siúicre Éireann Teo. (including its subsidiary Erin Foods Ltd.) (see Note (a). |
30/4/6630/4/66 |
+262,590+262,590 |
YesYes |
|
Industrial Credit Co. Ltd. (in- cluding subsidiaries). |
31/10/66 |
+324,215 |
Yes |
|
Irish Life Assurance Co. Ltd. |
31/12/66 |
+450,000 |
The profit shown represents the surplus on a revaluation of the assets and liabilities; accordingly, depreciation has been taken into account. |
|
Taiscí Stáit Teoranta |
31/3/66 |
-2,277 |
No—appropriate provision not assessable. |
NOTES:
(a)Takes into account the loss (£1,205,278) on food processing charged to Profit and Loss Account.
(b)The Racing Board has been omitted from the above list as it is not primarily engaged in any trading or commercial activity and, accordingly, the question of profit or loss does not arise.
60.
asked the Minister for Industry and Commerce the profit or loss as the case may be for each State-sponsored body or company for which he is responsible for the last available year, stating such year; whether in each case depreciation was charged before the extraction of the profit or loss figure; and, in any case in which no such depreciation was charged, the amount of depreciation which he considers should have been charged if adequate profit was available, according to normal commercial practice.
I have assumed from the form of the question that it relates only to bodies and companies over which I have direct control and which are engaged in trading. The position in relation to these bodies and companies is set out in the following statement:
|
Name of Company or body |
Accounting Year ended |
Profit or Loss |
Depreciation Provision |
|
Irish Steel Holdings Ltd. |
30th June, 1966 |
Loss-£65,657 |
£189,450 (charged before extraction of the figure for loss). |
|
Ceimicí Teoranta |
30th September, 1966 |
Profit-£103,642 |
£30,206 (charged before extraction of the profit figure). |
|
Min-Fhéir (1959) Teoranta |
31st March, 1966 |
Loss-£6,445 |
£4,273 (charged before extraction of the figure for loss). |
|
Nítrigin Éireann Teoranta |
30th June, 1966 |
Profit-£8,391 |
£222,503 (charged before extraction of the figure for profit). |
61.
asked the Minister for Health the profit or loss as the case may be for each State-sponsored body or company for which he is responsible for the last available year, stating such year; whether in each case depreciation was charged before the extraction of the profit or loss figure; and, in any case in which no such depreciation was charged, the amount of depreciation which he considers should have been charged if adequate profit was available, according to normal commercial practice.
As I stated in my reply on the 22nd February last to an earlier question by the Deputy, the bodies for which I am the responsible Minister are generally engaged in the provision of medical services, or services ancillary to medicine. None of them is involved in commercial activities the nature of which would give rise to profits or losses.