New Zealand Gazette – 1995 – No. 82

Page 2296

✨ Financial Statements



2296 NEW ZEALAND GAZETTE No. 82

  1. GENERATION OPERATIONS

Marlborough Electric’s own generation provided 69 GWh (1994 54 GWh)

  1. TAXATION
NETWORK GENERATION ENERGY TOTAL TOTAL BUSINESS
YEAR ENDED YEAR ENDED YEAR ENDED YEAR ENDED
31 MARCH 31 MARCH 31 MARCH 31 MARCH
1995 1995 1995 1995

4.1 Taxation Charge

Net Profit before tax | 912,200 | 3,245,738 | 971,249 | 5,129,187 |
Add/(deduct):
Non Deductible Costs | 20,476 | | 4,816 | 25,292 |
Non Assessable Income | 1,544 | | (16,105) | (14,561) |

Taxable Income | 934,220 | 3,245,738 | 959,960 | 5,139,918 |
Taxation Charge @ 33% | 308,292 | 1,071,093 | 316,788 | 1,696,173 |

Prior Year under Provision | 5,768 | | | 5,768 |
Tax Expense | 314,060 | 1,071,093 | 316,788 | 1,701,941 |

4.2 Tax Effect of Timing Differences

Deferred tax is not established in the financial statements as timing differences are not expected to reverse in the foreseeable future. The main timing difference relates to holiday pay accrued for accounting purposes but not deductible.

  1. SHAREHOLDERS EQUITY

5.1 Marlborough Electric’s shares are held by the Trustees to the Marlborough Electric Power Trust.

5.2 Share Capital

$
Authorised 28,000,000 ordinary shares of $1 each
Issued and Paid up 28,000,000 ordinary shares of $1 each
NETWORK GENERATION ENERGY TOTAL TOTAL BUSINESS
Issued and Paid Up 8,736,142 16,047,638 3,216,220


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✨ LLM interpretation of page content

💰 Notes to Financial Statements of Marlborough Electric Limited (continued from previous page)

💰 Finance & Revenue
Financial Statements, Taxation, Shareholders Equity, Generation Operations, Marlborough Electric