✨ Financial Statements Notes
NEW ZEALAND GAZETTE
No. 224
TELECOM CENTRAL LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS—continued
| 30 September 1990 | 31 March 1990 | |
|---|---|---|
| $000’s | $000’s |
8 TERM LIABILITIES (UNSECURED)
Parent company loan ... 254,042 126,358
Other ... 1,405 -
Total ... 255,447 126,358
Interest rates on the parent company loan ranged from 14.14% to 14.28% for the six months ended 30 September 1990. The parent company loan has no fixed date for repayment.
9 TAXATION
Current taxation:
– Balance at beginning of period ... (5,318) -
– Balance from acquired subsidiary ... 4,527 -
– Total taxation in the current period (Note 5) ... (12,792) (11,565)
– Tax paid ... -
Taxation payable ... (13,583) (5,318)
Deferred taxation:
– Balance at beginning of period ... 13,008 15,233
– Balance from acquired subsidiary ... (1,689) -
– Provided in the current period (Note 5) ... (3,101) (2,225)
– Other movements ... (12,007) -
Future tax benefit/(Deferred tax provision) ... (3,789) 13,008
10 PROVISION FOR RESTRUCTURING COSTS
Transferred from Telecom ... - 12,390
Charges against provision ... - (16,039)
Transfer from earnings ... - 3,649
11 SHARE PREMIUM RESERVE
Balance at beginning of period ... 206,359 -
Balance from acquired subsidiary ... 212,699 -
(Consisting of a premium of $9,999 on 20,638 and 21,272 redeemable preference shares respectively)
Movements during period ... -
Total ... 419,058 206,359
The redeemable preference shares are subject to redemption, at the issue price, five days after written notice from the holder.
12 ACCOUNTS RECEIVABLE AND PREPAYMENTS
Accounts receivable ... 78,147 28,258
Unbilled rentals and tolls ... 15,591 6,044
Due from fellow subsidiary companies ... 1,063 6,588
Due from parent company ... - 12,475
Other accounts receivable and prepayments ... 7,388 488
Total ... 102,189 53,853
Included in other accounts receivable and prepayments is an amount of $7.3 million being the deferral of certain expenditure incurred in relation to the installation of a major computer system. These costs are progressively charged to earnings as each phase of the system becomes fully operational.
13 INVENTORIES
Revenue work in progress ... 4,908 858
Inventories ... 26,428 12,679
Total ... 31,336 13,537
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VUW Te Waharoa —
NZ Gazette 1990, No 224
NZLII —
NZ Gazette 1990, No 224
✨ LLM interpretation of page content
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Telecom Central Limited Financial Statements Notes
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🏭 Trade, Customs & Industry28 November 1990
Financial Statements, Revenue, Operating Expenses, Interest, Taxation, Dividends, Accounts Payable