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Rainbow Ranche Collection

The Rainbow Ranche Limited Liquidation Report, December 31, 1954 via Heliwell, Maclachlan & Co Helliwell, Maclachlan, & Co. 1954

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 THE RAINBOW RANCHE LIMITED (IN VOLUNTARY LIQUIDATION), OKANAGAN CENTRE, B. C.
A c c o u n t s
December 31,   195k
Helliwell, Maclachlan & Co.
CHARTERED   ACCOUNTANTS Index THE RAINBOW RANCHE LIMITED (IN VOLUNTARY LIQUIDATION), CKANAGAN CENTRE, B. C.
INDEX TO STATEMENTS
EXHIBITS :
"A" Balance sheet
"B" Surplus statement
"C". Profit and loss statement
SCHEDULE :
1. Agreements for sale Report Helliwell,Maclachlan & Co.
Marine  Building,
caBlEadDREss"hELLIWELL, VANCOUVER." VANCOUVER,!,
BRITISH   COLUMBIA.
February 9,  1955-
The Shareholders,
The RainTbop. Banehe Limited
(in Voluntary LiquidalBon),
CKANAGAN CENTRE, B. C.
Dear Sirs :
We have examined the books and accounts of Rainbow Ranehe Limbed (In
Voluntary Liquidation) for the year ended December 31>  195^ and now submit the statements enumerated in the foregoing index, together?,with the following comments.
BALANCE SHEET
AGREEMENTS FOR SALE : Transactions in this Recount daring the year under
review are shown in Schedule 1.
INC (ME TAXES PAYABLE (ESTIMATED) $205.20 : There have been no transactions
in this account during the year under review.
LIQUIDATING DISTRIBUTIONS $23,572*00 : The composition of the liquidating
distributions for the year ended December 31> 195^ is as follows :-
Fixed assets as at December 31 > 1953 $ M>1.85
Deduct proceeds of sale of buildings $ 560.00
Less portion of proceeds included
in revenue 99-15
If 60.85
-  $    1.00
Account receivable 200.00
Agreements for sale (Schedule l) 1^,871.18
Miscellaneous investments ;
Balance at December 31, 1953 690.91
Add investments included in revenue
during year under review :
Vernon Fruit Union shares 1,887.00
B. C. Fruit Processors Ltd.
certificates of indebtedness 16^.06
2,051.06
2,7^1.97
Deduct investments redeemed during
year under review 1>^5«33
    1,296.6k
Cash 7,203.18
$23,572.00 (2)
GENERAL
STATUTORY REPORT : Subject to the foregoing, we have obtained all the infor
mation and explanations we have required, and we are of the opinion that the attached
balance sheet (Exhibit "A") is properly drawn up so as to exhibit a true and correct
view of the state of the Company1s affairs according to the best of our information and
the explanations given to us and as shown by the books of the Company.
Yours truly,
Chartered Accountants Exhibits Exhibit "A"
Balance sheet THE RAINBOW RANCHE LIMITED (IN VOLUNTARY
BALANCE SHEET AS AT
Assets
CURRENT ASSETS  :
Cash in bank
Accounts receivable
^,562.19
5.23
$2,567.^2
2,567.te 1
1
Exhibit nM*
I
LIQUIDATION), OKANAGAN CENTRE, B. C.
DECEMBER 31, 1954
Liabilities
CURRENT LIABILITIES :
Accounts payable
Income taxes payable j(^timated)
$ 950.00
205.20
---------  <fel l^R OC\
   Jp-L,_L?2 ,£iU
SHAREHOLDERS1 EQUITY :...,
Share capital :
Authorized :
824 shares of $100.00 each                 $82,400.00
Issued :
332 shares of $100.00 each                            33,200.00
Surplus (Exhibit MB")                                    23,324.22
56,524.22
Deduct liquidating distributions :
Paid in prior years                         31,540.00
Paid in year ended December 31,
I95I+ - $71.00 per share                    23,572.00
---------  r^ tip no
 -    p? f±±cL.KJKJ
„   2 412 22
1
$2,567A2
	
This is the balance sheet referred to in our
report dated February 9, 1955.      a
f
1 1    f\
\* yj
JoU^v*
J^/XjtoxA^Shartered Accountants
■ 1 f3
Exhibit w8*
THE RAINBOW RAJKSffi^LIMITED  (^-VOLUNTARY I^QUIDATION) ,ICKANAGAN.-CENTRE,   B.  C.
SURHLUS STAMCTT'AS AT DECEMBERIfl,:/Igffi
Balance as at December 31,  lp53^-
Add excess of revenue? over-expenses f&*mW*^
yearrwria^BecenBe* §3^1954 (Exhibit ,rCw)
Balance as at December 31, 1954 (Exhibit "A")
$22-, 6l2.99
711.23
$23,324v28e
■f Exhibit "C"
THE RAINBOW RANCHE LIMITED (IN VOLUNTARY LIQUIDATION), CKANAGAF CENTRE, B. C.
PROFIT AND LOSS STATEMENT FOR:THE YEAR ENDED DECEMBER 31, 195^
REVENUE :
Proceeds of share® of The Vernon Fruit Union
Proceeds of certificates of indebtedness of
B. C. Fruit Processors Ltd.
Interest reeelveeti on agreements for sale
Interest received - other
Profit on sale of buildings
Bad debts recovered;
$1,887?. 00":
l64.o6
138.52
19.56
99.15
510.76
$2,819^
EXPENSE t:
Administrative salary and expenses
 BJECggS" of vks&§xm&~xrmr' easpgnsags	
for the year ended December 31, 1954 (Exhibit "B")
2,107.82
$ 711.23  I W. Sukeroff I
F.J.A.J. and C.P.R. De Wonck I
L.L. and A.M. Van Roechoudt I
C.P. Stewart I
S. Hikichi I
Schedule
Transactions in agreements for sale m
7':^5-^l |
THE RAINBOW RANCHE LIMITED (IN VOLUNTARY LIQUIDATION), OKANAGAN CENTRE, B. C.
TRANSACTIONS IN AGREEMENTS FOR SALE FOR THE YEAR ENDED DECEMBER 31, 1954
-Schedule
Closing
¥. Sukeroff Lot 8
F.J.A.J. and C.P.R. De Wonck Lot 9
L.L. and A.M. Van Roechoudt Lot 13
C.P. Stewart Lot 11
S. Hikichi Lot 3
Interest
Total
Collections
;£^3,iance
Opening
balance
included in
liquidating^;
distribution
$ 2,057.96
$138.52
$ 2,196.48
$ 178. ^H
$ 2^17.56
4,989-29
!|§Jf89.29
4,989.29
2,726.17
gi^26.i7
609:|li|
f^^^M
3,420.10
3,420.10
199.71
3,220.39
3,959.74
$138.52
Slpt59*7^
1,432.39
2,527.35
$17,153.26
$17,lll|p|^
$14,871.18  m
£0/3,^7. v,oy
THE RAINBOW RANCHE LIMITED (IN VOLUNTARY LIQUIDATION), CKANAGAN CENTRE, B. C.
Accounts
December 3l,  1954
Helliwell, Maclachlan & Co.
CHARTERED    ACCOUNTANTS  THE RAINBOW RANCHE LIMITED (IN VOLUNTARY LIQUIDATION), CKANAGAN CENTRE, B. C.
INDEX TO STATEMENTS
EXHIBITS :
"A" Balance sheet
"B* Surplus statement
"WCW Profit and loss statement
SCHEDULE :
1. Agreements for sale  Helliwell,Maclachlan & Co.
Marine  Building,
cable AOOR.SS-HELUWELL, VANCOUVER... VANCOUVER,!,
BRITISH   COLUMBIA.
February %  1955.
The Shareholders,
The Rainbow Ranehe Limited
(in Voluntary Lifaldation),
CiCANAGAM CEHTRE,  B.  C.
Dear Sirs :
We have examined the books and accounts of Bainbow Ranehe Limited (in
Voluntary Liquidation) for the year ended December 31, 195^ &»d now submit the statements enumerated in the foregoing index, together with the following comments.
BALANCE SHEO^"
AGREEMENTS FOR SALE : Transactions in this account during the year under
review are shown in Schedule 1*
INCOME! TAXES RATABLE (ESTIMATED) $205.20 i ttoere have been no traaaaetions
In this account during tfee year under review.
UQglDATIlfG DISTRIBUTIONS $23,572*00 : The composition of the liquidating
distributions for the year ended December 31»  195^ is as follows :«•
Fixed assets as at December $L, 1953
Deduct proceeds of sale of buildings
Less portion of proceeds included
in revenue
Account receivable
Agreements for sale (Schedule l)
Miscellaneous investments :
Balance at December 31, 1953
£§j, Investments included in revenue
during year under review :
Vernon Fruit Union shares
B. C. Fruit Processors Ltd.
certificates of indebtedness
Deduct investments redeemed during
year under review
Cash
1 560.00
99.15
1,887.00
16^.06
$ 461.85
^60.85
690.91
2,051.06
2,7^1.97
1,^5.33
I   1.00
200.00
1^,871*18
1,296.64
7,203.18
#23,572.00 m
0 E N E R A L
STATUTORY REPCRT : Subject to the foregoing, we have obtained all the information and explanation* *© have inquired, and we are of the opinion that the attached
balance sheet (Exhibit "A") is properly drawn up so as to exhibit a true and correct
vi** of the state of the Company's affairs according t© the best of our information and
the explanations given to us and as shown by the books of the Company.
Tours truly,
Chartered Accountants  Exhibit "A"
Balance sheet =
sin
TIE RAINBOW RANCHE LIMITED (IN V03OTTAEI
BALANCE SHEET AS AT
As sets
CUBUNT ASSETS :
Cash in bank
Accounts receivable
5.23
#2,567.^
hL
#2,567. k2 LIQUIDATION), OKANAGAN CENTRE, ft. C*
DECEMBER ffij 1QS4
U ft U 1 1 t i t
Exhibit "A*
CURRENT LIABILITim ;„
Accounts payable
Inccaw taxes payable (estimated)
950.00
205.20
#1,15M»
SHAREHOLDERS' EQDKfW
Share capital j
Authorized :
824 shares of #100.00 each
#82,%00.00
Issued :
332 shares of $I0Bfr$0 each
Surplus (Exhibit *£*)
Deduct liquidating distributions
Paid in prior jwars
Paid in year ended December 31,
1954 - #71.00 j»r share
31,5*0.00
23,572.00
55#H2.QQ
tjliaftft
#2,5©7.*2
This is the balance sheet referred to in our
report dated February 9, 1955%
I LA
Chartered Accountants Exhibit HW
THE RAINBOW RANCHE LIMITED (IN VOLUNTARY LIQUIDATION), OLAIAGAH CEM2S, jU**
SURFU33 STATBNOSRT AS AT DECEMBER 31* 195*
Balance as at December 31* 1953
Add excess of revenue over expenses for the
year ended December 31, 1955 (Exhibit "C*}
Balance as at December 31, 195* (Exhibit "A")
#22,612.99
$23,324.22 Exhibit »C"
Til BAINBCW 1ANCHE LIMITED (l» fWITARY IIQPIBATIOS), CKANAGAN CENTRE, B. C.
PROFIT AND LOSS STATEMENT FOR THE YEAR ENDED DECEMBER 31* 195*
REVENUE :
Proceeds of shares of The Vernon Fruit Union
Proceeds of certificates of indebtetoess of
B. C. Fruit Processors Ltd.
Interest received on agreements for sale
Interest received - other
Profit on sale of buildings
Bad debts recovered
#1,887.00
164.06
138.52
19.56
99*15
510.76
$2,819.05
EXPENSES •
Administrative salary and expenses
2,107.82
 Excess of revenue over expenses	
for the year ended December 31* 1954 (Exhibit "B")      # 711*23  Schedule 1
>«»l
W. Sukeroff I
F.J.A.J. and C.P.R. Be Wonck X
L.L. and A.M. Van Roechoudt I
C.P. Stewart L
S. Hikichi L
Transactions in agreements for sale
t: THE RAINBOW RANCHE LIMITED (IN VOLUNTARY LIQUIDATICar), OKANAGAN CEHTRE, B. C.
TRANSACTIONS IN AGREEMENTS FOR SALE FOR THE YEAR ENDED DECBtCSER 31* 195*
Schedule 1
W. Sukeroff
Lot 8
F.«T.A.J. and C.P.R. De Wonck
Lot 9
L.L. and A.M. Van Roechoudt
Lot 13
0,F. Stewart
Lot 11
S. likichi
I*ot 3
Closing
balane* - ■
included in
Opening
balance
Interest
Total
Collections
^Hquidating
distribution
$ 2,057.96
#138.52
§||f£,l96. *8
# 178.92
# 2,017.56
*,989.29
*,989.29
*.98^^
2,726.17
2,726.17
609.58
||^L6.59
3,*20.10
3,420.10
g^^^
3.220.39
3*959.7*
$138.52
#17,^^]^
P^^-39
#2,420.60
2,527.35
$17,153-26
$l*|f|l.l8 

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