Written Answers.  State Company Capital.Thursday, 2 December 1971 
Dáil Eireann Debate

Mr. L'Estrange: asked the Taoiseach if he will state, in respect of the boards, State companies, or any other bodies under the aegis of his Department, for 1968, 1969, 1970 and 1971 (a) the amount of capital employed on the 31st March, (b) how and from what source such capital was provided, (c) the yield on the total capital employed, (d) the return paid on the capital, (e) the amount of any capital repaid or converted, (f) the total amount paid in corporation profits and income tax, (g) the amount set aside for depreciation, (h) the total of (f) and (g) respectively for the four years and (i) the profit or loss; and whether there are now adequate tangible assets to repay, if [1262] need be, the totals of (a) and (g) and if not, what proportion could be repaid.
The Taoiseach: There is no board or company, of the type apparently envisaged in the question, for which I am responsible.
Mr. L'Estrange: asked the Minister for Foreign Affairs if he will state, in respect of boards, State companies or any other bodies under the aegis of his Department, for 1968, 1969, 1970 and 1971 (a) the amount of capital employed on the 31st March, (b) how and from what source such capital was provided, (c) the yield on the total capital employed, (d) the return paid on the capital, (e) the amount of any capital repaid or converted, (f) the total amount paid in corporation profits and income tax, (g) the amount set aside for depreciation, (h) the total of (f) and (g) respectively for the four years and (i) the profit or loss; and whether there are now adequate tangible assets to repay, if need be, the totals of (a) and (g) and if not, what proportion could be repaid.
Minister for Foreign Affairs (Dr. Hillery): No bodies engaged in business or trading activities are responsible to me.
Mr. L'Estrange: asked the Minister for Transport and Power if he will state, in respect of boards, State companies or any other bodies under the aegis of his Department, for 1968, 1969, 1970 and 1971 (a) the amount of capital employed on the 31st March, (b) how and from what source such capital was provided, (c) the yield on the total capital employed, (d) the return paid on the capital, (e) the amount of any capital repaid or converted, (f) the total amount paid in corporation profits and income tax, (g) the amount set aside for depreciation, (h) the total of (f) and (g) respectively for the four years and (i) the profit or loss; and whether there are now adequate tangible assets to repay, if need be, the totals of (a) and (g) and, if not, what proportion could be repaid.
Minister for Transport and Power (Mr. B. Lenihan): The information sought is at present being compiled [1263] and, if the Deputy will repeat his question next week, the information will be available.
Mr. L'Estrange: asked the Minister for Social Welfare if he will state, in respect of boards, State companies, or any other bodies under the aegis of his Department for 1968, 1969, 1970 and 1971 (a) the amount of capital employed on the 31st March, (b) how and from what source such capital was provided, (c) the yield on the total capital employed, (d) the return paid on the capital, (e) the amount of any capital repaid or converted, (f) the total amount paid in corporation profits and income tax, (g) the amount set aside for depreciation, (h) the total of (f) and (g) respectively for the four years and (i) the profit or loss; and whether there are now adequate tangible assets to repay, if need be, the totals of (a) and (g) and, if not, what proportion could be repaid.
Minister for Social Welfare (Mr. J. Brennan): I would refer the Deputy to the reply given on 22nd October, 1969, to a Question, No. 383, on this subject.
Mr. L'Estrange: asked the Minister for Labour if he will state, in respect of the boards, State companies or any other bodies under the aegis of his Department, for 1968, 1969, 1970 and 1971 (a) the amount of capital employed on the 31st March, (b) how and from what source such capital was provided, (c) the yield on the total capital employed, (d) the return paid on the capital, (e) the amount of any capital repaid or converted, (f) the total [1264] amount paid in corporation profits and income tax, (g) the amount set aside for depreciation, (h) the total of (f) and (g) respectively for the four years and (i) the profit or loss; and whether there are now adequate tangible assets to repay, if need be, the totals of (a) and (g) and, if not, what proportion could be repaid.
Minister for Labour (Mr. J. Brennan): There are no boards or State companies responsible to me to which this question would apply.
Mr. L'Estrange: asked the Minister for Finance if he will state, in respect of boards, State companies, or any other bodies under the aegis of his Department, for 1968, 1969, 1970 and 1971 (a) the amount of capital employed on the 31st March, (b) how and from what source such capital was provided, (c) the yield on the total capital employed, (d) the return paid on the capital, (e) the amount of any capital repaid or converted, (f) the total amount paid in corporation profits and income tax, (g) the amount set aside for depreciation, (h) the total of (f) and (g) respectively for the four years and (i) the profit or loss; and whether there are now adequate tangible assets to repay, if need be, the totals of (a) and (g) and if not, what proportion could be repaid.
Minister for Finance (Mr. Colley): The following is the information requested as far as it is available. The figures given in respect of each body are based on the published accounts of the body concerned and it is, therefore, not possible to give figures for 31st March in most cases.
The totals of (a) and (g) at 30th April, 1971 amounted to £29,129,000 including reserves and provisions amounting to £647,000; tangible assets in the Corporation's balance sheet at 31st April, 1971 totalled £29,513,000.
The Bank has sufficient tangible assets to repay capital employed and depreciation provisions.
* The Bank is not liable for income tax or corporation profits tax.
The net assets of the Company are probably sufficient to repay the share capital, but on the book values shown in the balance sheet the amount that could be repaid is approximately 82 per cent.
* Accounts for 1971 not yet available.
Tangible assets at 30th April 1971 were sufficient to repay 53% of capital employed plus depreciation.
The Company has sufficient assets to repay capital employed and depreciation provisions.
* Accounts for year ended 31st October, 1971, not yet published.
The Company has sufficient assets to repay capital employed and depreciation provisions
* Accounts for 1971 not yet available.
[1271][1272] The Racing Board.
At any period the net value of the tangible assets is equal to the amount of capital employed
* Accounts for 1971 not yet available.
** The Racing Board has no loan, preference or ordinary share capital. The figures shown for capital employed above are the net assets at the end of each accounting year and represent the accumulated surpluses of the Racing Board and its predecessor, the Board of Control for Mechanical Betting, since the formation of the latter in 1930.
*** In the case of the Racing Board there is no yield in the commercial sense on capital employed. Similarly the Board's accounts record no profit or loss in the commercial sense. The Board's income is applied to administration expenses and grants for the benefit of horse racing. The accounts record a loss of £23,000 in 1968 and surpluses (accumulated) of £42,000 and £71,000 in 1969 and 1970 respectively.
Total value of (a) and (g) above at 31/3/71 was £5,884,000. The book value of loans and investments by the Company and cash at bank at that date was £5,870,000; it is not possible to say what proportion of this sum could be realised.
* The terms as to interest and repayment for the advances to the Company by the Minister for Finance have not yet been determined by the Minister.
Mr. L'Estrange: asked the Minister for the Gaeltacht if he will state, in respect of the boards and State companies, or any other bodies under the aegis of his Department, for 1968, 1969, 1970 and 1971 (a) the amount of capital employed on the 31st March, (b) how and from what source such capital was provided, (c) the yield on the total capital employed, (d) the return paid on the capital, (e) the amount of any capital repaid or converted, (f) [1274] the total amount paid in corporation profits and income tax, (g) the amount set aside for depreciation, (h) the total of (f) and (g) respectively for the four years and (i) the profit or loss; and whether there are now adequate tangible assets to repay, if need be, the totals of (a) and (g) and if not, what proportion could be repaid.
Minister for the Gaeltacht (Mr. Colley): Is mar seo a leanas an teolas faoin dá chomhlacht atá i gceist.
(x) Níl na cuntais iniúchta don bhliain dar chríoch 30 Meán Fómhair, 1971, ar fáil fós.
(y) Airleacan inaisíoctha saor ó ús ó Alginate Industries Limited, iasacht faoi mhorgáiste agus, ó 1968/69, iasacht ón gCuideachta Um Chairde Tionscail Teoranta. Níl rótharraingt bhainc ó am go chéile san áireamh.
Maidir leis an scairchaipiteal níor tiontaíodh ná níor aisíocadh aon chuid de ná níor íocadh aon díbhinní air.
Ar 30 Meán Fómhair, 1970, bhí luach na sócmhainní cuid mhaith níos mó ná iomlán an chaipitil agus an chúltaca do dhíluachadh.
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