=+The liability for income tax 1962/3, Case 1, Schedule D, has been finally agreed at £18,526; on the profit of the year 1962, it is estimated to be

£20,500. Profits tax for the year 1961 has been agreed and paid and an Overprovision of £474 has been included in the profit of the year 1962;

for the year 1962, it is estimated to be £4,800.

Marketable Investments have a market value of £8,540. There is no market quotation for the Trade Investments but they are considered to be at least worth their cost.