xxvn 
PARK  ROYAL,  LIMITED 
REPORT  OF  THE  DIRECTORS 
AND  STATEMENT  OF  ACCOUNTS  TO  SEPTEMBER  30,  1904. 
Presented  at  the  Ordinary  General  Meeting,  held  at 
13  Hanover  Square,  W.,  on  Tuesday,  January  31,  1905. 
Mr.  GEORGE  H.  SANDAY  ‘ 
1.  The  Directors  present  their  First  Annual  Report  and  Balance-sheet  to 
September  30,  1904. 
2.  The  Company  took  over  from  the  Royal  Agricultural  Society  the  following 
assets  ; Land  and  Development,  33,686f.  O.v.  ; the  unexpended  balance  of 
the  “Permanent  Show  Fund”  Account,  amounting  to  2,155/.  11;(.  Od.  ; an 
additional  1,000/.  (the  balance  due  in  1905  of  a donation  already  promised  to 
the  Society)  ; and  three  ricks  of  hay  valued  at  310/. 
3.  During  the  period  of  the  account  a further  sum  of  2,060/.  l.s.  id.  has  been 
expended  in  developing  and  improving  the  property,  the  purchase  of  plant,  the 
provision  of  an  additional  water  supply,  and  additions  to  Grand  Stands,  &c,,  as 
shown  in  the  Balance-sheet, 
4.  The  work  in  connection  with  the  erection  of  buildings  and  preparation 
for  the  Royal  Agricultural  Show  of  1904,  was  carried  out  by  the  Company  at  a 
cost  of  5,986/,  8a'.  9</.,  and  expenditure  was  incurred  on  account  of  rates,  taxes, 
interest  on  mortgage,  &c.,  amounting  to  2,101/.  17.s.  Id.,  in  addition  to 
137/.  11s.  10(7.  for  hay,  eaves  guttering,  &c.  At  the  date  of  the  Balance-sheet 
there  was  still  due  from  the  Royal  Agricultural  Society,  on  account  of  the 
above,  the  sum  of  2,902/.  4.?.  lOrf. 
5.  Arrangements  have  been  completed  with  the  Queen’s  Park  Rangers 
Football  Club,  for  the  use  of  the  large  ring  for  purposes  of  football  during  the 
winter  months  for  a term  of  seven,  fourteen,  or  twenty-one  years,  terminable 
by  either  party  at  the  end  of  each  period,  at  an  annual  rental  of  350/. 
Dirrrtors : 
The  lord  MIDDLETON  {Chairman). 
The  earl  OF  DERBY,  K.G. 
Sir  WALTER  GILBEY,  B.\rt. 
Col.  Sir  NIGEL  KINGSCOTE,  G.C.Y.O.,  K.C.B. 
Mr.  PERCY  CRUTCHLEY 
EE  2 
