New Zealand Gazette – 1990 – No. 224

Page 5142

✨ Financial Statements



5142 NEW ZEALAND GAZETTE No. 224

TELECOM AUCKLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS—continued

Six Months Ended Year Ended
30 September 1990 31 March 1990
$000's $000's

2 REVENUE

Revenue includes rental from telephone lines and customer premises equipment, national calls, telex, leased circuit, telegraph, radio and support centre service revenue, and sales of customer premises equipment.

314,093 605,632

3 OPERATING EXPENSES

250,767 475,266

Included in Operating expenses are:

  • Depreciation ... 56,277 106,629
  • Audit fees ... 95 152
  • Intercompany management fee ... 13,433 29,731
  • Foreign exchange losses ... 2,212
  • Lease and rental costs ... 16,543 33,428

The formula used in determining the amount of labour and overhead capitalised to the cost of self constructed assets has been varied with the effect that for the six months ended 30 September 1990 an additional $4.1 million of overhead which otherwise would have been charged to earnings, after taxation, was capitalised.

4 INTEREST

Interest income:

  • Intercompany ... 2 1,509

  • Other ... — 27

    2 1,536

Interest expense:

  • Intercompany ... 28,659 43,455

  • Other ... 4 7

    28,663 43,462

  • Less interest capitalised ... (307) (6,182)

    28,356 37,280

5 TAXATION EXPENSE

Net earnings before taxation ... 34,972 94,622
Tax at current rate of 33% ... 11,541 31,225
Adjustment for permanent differences ... 1,364 517

Total taxation ... 12,905 31,742

The tax expense is represented by:

  • Current taxation (Note 9) ... 7,182 18,236

  • Deferred taxation (Note 9) ... 5,723 13,506

    12,905 31,742

6 DIVIDENDS

Interim dividend proposed ... 6,263 18,600
Interim dividend paid ... 600
Final dividend proposed ... — 41,136

Dividends for period ... 6,263 59,736
Proposed dividend at end of period ... 6,263 41,136

7 ACCOUNTS PAYABLE AND ACCRUALS

Trade accounts payable and accruals ... 33,069 47,709
Personnel accruals ... 20,518 20,683
Rentals billed in advance ... 14,445 13,616
Payable to fellow subsidiary companies ... 25,771 39,672
Payable to parent company ... 167,077 85,825

260,880 207,505



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✨ LLM interpretation of page content

🏭 Telecom Auckland Limited Financial Position Statement (continued from previous page)

🏭 Trade, Customs & Industry
28 November 1990
Financial Statement, Revenue, Operating Expenses, Interest, Taxation, Dividends, Accounts Payable