✨ Financial Statements Continuation
2150 NEW ZEALAND GAZETTE No. 97
TELECOM CENTRAL LIMITED AND SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
4 INCOME TAX (continued)
The tax expense is represented by:
-Current taxation 24,406 11,565
-Deferred taxation 7,732 2,225
32,138 13,790
The balance sheet provisions as at 31 March are:
Current taxation:
-Balance at beginning of period (5,318) -
-Balance from acquired subsidiary 4,527 -
-Total taxation in the current period (24,406) (11,565)
-Tax paid 31,845 6,247
6,648 (5,318)
Deferred taxation:
-Balance at beginning of period 13,008 15,233
-Balance from acquired subsidiary (1,688) -
-Provided in the current period (7,732) (2,225)
-Other movements (12,007) -
(8,419) 13,008
5 ACCOUNTS RECEIVABLE AND PREPAID EXPENSES
Accounts receivable, net 54,421 28,258
Unbilled rentals and tolls 17,650 6,044
Due from fellow subsidiary companies 588 6,588
Due from parent company - 12,475
Prepaid expenses and other 165 488
72,824 53,853
6 OTHER ASSETS
Other assets include certain deferred expenditure amounting to $10.0 million incurred in relation to the installation of a major computer system. The deferred costs relating to each phase of the system are charged to earnings over a period of two years from the date upon which that phase of the system becomes fully operational. The corresponding amount at 31 March 1990 of $4.7 million was included in prepaid expenses and other, and capital work in progress. Deferred costs amortised during the year ended 31 March 1991 amounted to $3.7 million (1990:$0).
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VUW Te Waharoa —
NZ Gazette 1991, No 97
NZLII —
NZ Gazette 1991, No 97
✨ LLM interpretation of page content
🏭
Telecom Central Limited Financial Statements
(continued from previous page)
🏭 Trade, Customs & Industry7 June 1991
Telecommunications, Financial Reporting, Income Tax, Accounts Receivable, Other Assets