New Zealand Gazette – 1995 – No. 82

Page 2332

✨ Financial Statements



2332 NEW ZEALAND GAZETTE No. 82

WAITOMO ENERGY SERVICES LIMITED

Line Business Activity

Statement of Financial Position

For Year Ending 31st March 1995

NOTE 2:

Taxation Expense $
Nominal Profit Before Taxation 1,723,000
Prima Facie Taxation (@ 33%) 568,000
Add/(Less) Effect of Permanent Tax Diff 414
Plus Prior Period Liability 0
Net Taxation Expense 568,414

NOTE 3:

Customer Discount $
Discount Declared 1,016,000
Less Taxation Effect 335,000
Net Customer Discount 681,000

NOTE 4:

Fixed Assets At Cost $ Accumulated Depreciation $ Net Carrying Value $
Land 27,500 0 27,500
Buildings 522,617 14,287 508,330
Distribution System 11,496,967 1,172,679 10,324,288
MV Plant & Equipment 1,220,658 452,290 768,368
Capital Work in Progress 559,005 0 559,005
Total 13,826,747 1,639,256 12,187,491

NOTE 5: Loans

Periods of Repayment: $
Current Portion (due within one year) -

| Perpetual | $
| The term loans are perpetual subordinated debentures issued to: |
| - Waitomo Energy Services Customer Trust | 3,000,000 at a rate of 8.4%
| $1,000,000
| - Northern King Country Development Trust | 3,000,000 at a rate of 5.0%
| $2,000,000

NOTE 6: Deferred Taxation

Represented by the following timing differences:

$
Fixed Assets 864,496
Accruals & Provisions (258,517)
605,979

NOTE 7: Financial Instruments

Credit Risk

The Company has no significant concentrations of credit risk.



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