New Zealand Gazette – 1995 – No. 82

Page 2314

✨ Financial Statements



2314 NEW ZEALAND GAZETTE No. 82

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

For 12 Months Ended 31 March 1995

Line Business $ Other Business $
1. Net Profit Before Tax 5,348,188 511,409
After Charging:
Audit Fees 20,100 1,900
Depreciation 2,818,351 145,034
Directors’ Fees and Expenses 113,695 10,521
Interest 672 —
Rental and Operating Lease Costs 7,034 526
Research & Development 17,530 26,539
After Crediting:
Interest Received 226,966 261,442

2. Taxation:

Line Business $ Other Business $
Profit before Taxation $5,348,188 $511,409
Prima Facia Taxation @ 33% 1,764,902 168,765
Plus Tax effect of permanent differences:
Use of Money Interest (3,055) —
Depreciation on Globo Assets 104,632 —
Legal Fees 602 —
Other Permanent Differences 5,785 —
Entertainment Expenses 467 —
Tax on Profits for Year 1,873,333 168,765
Prior Period Adjustment (44,276) —
$1,829,057 $168,765

The Taxation Charge is Represented by:

Line Business $
Prior Period Adjustment (44,276)
Current Taxation 1,308,251
Deferred Taxation 565,082
$1,829,057

Movements in Provision for Deferred Taxation:

Line Business $
Opening Balance (231,637)
Prior Period Adjustment 31,214
Current Movement in Timing Differences (565,082)
($765,505)

Imputation Credit Account:

Line Business $
Opening Balance 1,381,682
Imputation credits attaching to dividends paid in the year (334,925)
Income tax payments during year 1,498,989
$2,545,746
Other Business $
$168,765

3. Dividends:

Line Business $
Dividends - Paid 1,307,200
Dividends - Proposed 1,307,200


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🏭 Financial Statements for Northpower Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Net Profit, Taxation, Dividends, Northpower Limited