§ Mr. Farrasked the Secretary of State for Northern Ireland if he will publish in the Official Report annual figures since its inception, for the value of sales, trading losses, capital amounts written off and Government assistance by type, for the Strathearn Audio Company.
§ Mr. ConcannonThe information is as follows: 559W
560W561W
All figures are in £000s 13 months ended 31 December 1974 Year ended 31 December 1975 Year ended 31 December 1976 Year ended 31 December 1977 Year ended 31 December 1978 Total to 31 December 1978 Volume of Sales … … … … … … — — 156 209 343 708 Trading Losses … … … … … … 490 1,345 2,696 3,102 * 7,633 Government Assistance: Department of Commerce: Grants … … … … … … — — — 461 — 461 Loan Capital … … … … … — — — 330 2,000 2,330 Northern Ireland Finance Corporation: Loan Capital … … … … … — — — — — — Equity Capital … … … … … 750 2,250 1,000 — — 4,000 Northern Ireland Development Agency: Loan Capital … … … … … — — 597† 1,544 — 2,141 Equity Capital … … … … … — — — 1,668 250 1,918 Department of Manpower Services: Training Grants … … … … … — — — — — 172‡ * The actual figure for this year is not yet available as the audited accounts are not finalised. † This loan was made by NIDA under direction from DOC. ‡ These grants were paid during the period 1974 to 1977 but the annual breakdown is not readily available. In addition, the company received training grants totalling £100,055 from the European social fund. The Department of Commerce also assisted the company through the provision of factory premises for rent.
It is assumed that by "capital amounts written off" the hon. Member is referring to the write-off of equity and loan capital provided by the Northern Ireland Finance Corporation and the Northern Ireland Development Agency, together with the accumulated interest charges. At the beginning of 1977, £5,397,074 was written off.