✨ Financial Statements
NEW ZEALAND GAZETTE
No. 78
TAUPO ELECTRICITY LIMITED
Notes To And Forming Part Of The Financial Statements
For The Year Ended 31 March 1995
1. NET PROFIT BEFORE TAXATION
The net profit before taxation is calculated after recognising:
Revenue of:
| Line Business | Other Businesses | |
|---|---|---|
| 1995 ($) | 1995 ($) | |
| Sales of Electricity | 8,346,668 | 14,500,446 |
| Other Income | 1,209,260 | 1,007,236 |
| Bad Debts Recovered | - | 8,917 |
| Interest Earned | 22,625 | 47,226 |
| Total Revenue | 9,578,553 | 15,563,825 |
And After Charging:
| Line Business | Other Businesses | |
|---|---|---|
| 1995 ($) | 1995 ($) | |
| Audit Fees | 19,512 | 30,150 |
| Interest Expense | 91,119 | 322,549 |
| Directors Fees and Expenses | 41,482 | 23,918 |
| Lease Payments (Depot Rental) | 112,564 | 23,266 |
| Net Depreciation | 677,843 | 363,264 |
| Bad and Doubtful Debts | 22,947 | 37,261 |
| Writedown of Capacity Project | 705,676 | - |
2. TAXATION
| Line Business | Other Businesses | |
|---|---|---|
| 1995 ($) | 1995 ($) |
Income Tax Reconciliation
Net Profit Before Tax | 1,085,377 | 2,188,336 |
Prima Facie Tax Expense 33% | 358,174 | 722,151 |
Plus/(Less) tax effect of: |
| Non Assessable Income | (18,583) | (145,409) |
| Timing Differences | (2,167) | (3,317) |
| Prior Year (Over)/Under Provisions | - | - |
| | 374,590 | 573,425 |
Comprising:
Current Year Tax Expense | 374,590 | 573,425 |
Provision For Taxation:
Opening Balance | (9,045) | (117,393) |
Plus Current Year Income Tax Expense | 374,590 | 573,425 |
Adjustment Made | 715 | 1,092 |
Less:
Provisional Tax Paid | 504,963 | 1,065,276 |
Income Tax (Refundable)/Payable | (138,703) | (608,152) |
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VUW Te Waharoa —
NZ Gazette 1995, No 78
NZLII —
NZ Gazette 1995, No 78
✨ LLM interpretation of page content
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Statement of Accounting Policies for Taupo Electricity Limited
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🏭 Trade, Customs & IndustryAccounting Policies, Financial Statements, Taupo Electricity Limited, Taxation Expense, Current Earnings, Permanent Differences, Timing Differences, Consistency