✨ Financial Statements
11 AUGUST
NEW ZEALAND GAZETTE
2151
TAUPO ELECTRICITY LIMITED
Notes (cont)
A deferred tax benefit totalling $567,663 (Lines Business $122,639 and Other Businesses $445,024) has not been recognised in these Financial Statements. This benefit principally comprises the timing differences between accounting and taxation depreciation rates, the provision for doubtful debts and the provision for stock obsolescence.
3. DIVIDENDS AND BONUS ISSUES
| Line Business | Other Businesses | |
|---|---|---|
| 1995 ($) | 1995 ($) | |
| Dividends Paid | ||
| Final Dividend for Year Ended 31 March 1994 on Ordinary Shares | 231,956 | 163,044 |
| Interim Dividend for Year Ended 31 March 1995 on Ordinary Shares | 117,447 | 82,553 |
| 349,403 | 245,597 | |
| Proposed Dividend | ||
| Proposed Final Dividend for Year Ended 31 March 1995 on Ordinary Shares | 565,503 | 397,497 |
4. ACCOUNTS RECEIVABLE
| Line Business | Other Businesses | |
|---|---|---|
| 1995 ($) | 1995 ($) | |
| Accounts Receivable Consist of: | ||
| Electricity and Trade | 1,009,706 | 1,505,761 |
| Sundry Debtors | 5,000 | - |
| Less Provision for Doubtful Debts | (52,426) | (85,128) |
| 962,280 | 1,420,633 |
5. CASH AND SHORT TERM INVESTMENTS
| Line Business | Other Businesses | |
|---|---|---|
| 1995 ($) | 1995 ($) | |
| Cash and Short Term Investments consist of: | ||
| Current Account Bank Overdrafts and Deposits | (2,052) | (3,934) |
| Investments: | ||
| Short Term Cash Deposits and Investments | 310,063 | 647,217 |
| Petty Cash | - | 350 |
| 308,011 | 643,633 |
6. INVENTORIES
Inventories comprise distribution, retail and sundry stocks.
A general provision totalling $53,565 has been established in the Line Business to cover those items which are not in economic quantities but are kept for use in repairs and maintenance of the distribution system, e.g. short uneconomical lengths of cable.
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VUW Te Waharoa —
NZ Gazette 1995, No 78
NZLII —
NZ Gazette 1995, No 78
✨ LLM interpretation of page content
🏭
Statement of Accounting Policies for Taupo Electricity Limited
(continued from previous page)
🏭 Trade, Customs & IndustryAccounting Policies, Financial Statements, Taupo Electricity Limited, Taxation Expense, Current Earnings, Permanent Differences, Timing Differences, Consistency