New Zealand Gazette – 1990 – No. 224

Page 5153

✨ Financial Statements Notes



24 DECEMBER NEW ZEALAND GAZETTE 5153

TELECOM CENTRAL LIMITED AND SUBSIDIARY

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.

                            249,620     232,243

3 OPERATING EXPENSES

Included in Operating expenses are:

Depreciation 51,007 46,936
Audit fees 95 106
Intercompany management fee 10,487 10,819
Foreign exchange losses 2 67
Lease and rental costs 2,849 1,965

                            185,490     172,277

4 INTEREST

Interest income:

  • Intercompany 1,982 2,828

Interest expense:

  • Intercompany 18,605 18,281

  • Other 26 -

                              18,631      18,281

5 TAXATION EXPENSE

Net earnings before taxation 47,481 44,513
Tax at current rate of 33% 15,669 14,689
Adjustment for permanent differences 224 (899)

Total taxation 15,893 13,790

The tax expense is represented by:

  • Current taxation (Note 9) 12,792 11,565

  • Deferred taxation (Note 9) 3,101 2,225

                              15,893      13,790

6 DIVIDENDS

Interim dividend proposed 8,192 -
Interim dividend paid 5,454 1,870
Final dividend proposed - 19,602

Dividends for period 13,646 21,472
Proposed dividend at end of period 8,192 19,602

7 ACCOUNTS PAYABLE AND ACCRUALS

Trade accounts payable and accruals 22,458 12,649
Personnel accruals 12,215 4,740
Rentals billed in advance 14,691 9,014
Payable to fellow subsidiary companies 22,194 15,516
Payable to parent company 106,441 -

                            177,999     41,919


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✨ LLM interpretation of page content

🏭 Telecom Central Limited Financial Statements Notes (continued from previous page)

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