A.R.O. FINANCIAL POSITION
Page 17
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THE accounts of Associated Road Operators will be presented when the Association meets at the Royal Empire Society, Northumberland Avenue, London, SAVA, on August 5. The income and expenditure account for the year ended March 91, 1940, shows a surplus of £2,262, contrasted with £604 in the previous year. Subscriptions received totalled over £23,000. On the debit side, headoffice expenses absorbed £8,914 and
regional area offices £12,787. Of the surplus, £1,540 is allocated to the National Fund, the remaining £722 being carried to the balance-sheet.
In the balance-sheet liabilities include general reserve at 45,331 and trustee reserve account at £1,472, in addition to the National Fund amount already referred to. -Amongst assets are cash in hand and in bank amounting to £6,597.