New Zealand Gazette – 1995 – No. 93

Page 2857

✨ Financial Statements



4 SEPTEMBER NEW ZEALAND GAZETTE 2857

TAURANGA ELECTRICITY LIMITED

Page 11

i) Changes in Accounting Policies

There have been no changes in accounting policies. All policies have been applied on bases consistent with those used in the previous year.

2. NET PROFIT BEFORE TAXATION

After charging:

  • Audit fees ... 18,886
  • Depreciation ... 406,990
  • Directors’ fees ... 23,371
  • Interest - term loan ... 263,512
  • Interest - capital instrument ... 32,369
  • Lease payments [operating] ... 0
  • Loss on sale of assets ... 5,359
Line Business Other Businesses
18,886 21,511
406,990 166,163
23,371 45,746
263,512 0
32,369 0
0 14,089
5,359 2,119

After crediting:

  • Gain on sale of assets ... -
  • Interest received ... 34,626
  • Lease Income ... 70,000
Line Business Other Businesses
- -
34,626 75,576
70,000 0

3. TAXATION

Profit before taxation ...

Line Business Other Businesses
523,969 1,371,708

Prima facie taxation at 33% ...

Line Business Other Businesses
172,910 452,663

Prior year adjustments ... 0
Group loss off-set ... (141,000)
TrustPower shares ... (825)
Taxation Expense ... $172,910

Line Business Other Businesses
$172,910 $313,440

The taxation charge is represented by:

  • Current taxation ... 202,514
  • Deferred taxation ... (29,604)
Line Business Other Businesses
202,514 315,570
(29,604) (2,130)
$172,910 $313,440

4. DIVIDENDS

Interim distributions:

  • Dividends paid ... 110,228
  • Proposed dividend ... 30,196
Line Business Other Businesses
110,228 756,403
(30,196) (202,173)
$140,424 $958,576

5. SHARE CAPITAL

Authorised capital
5,100,000 ordinary $1 shares

Line Business Other Businesses
$4,757,666 $12,342,334

Issued and paid up capital
5,100,000 ordinary fully paid $1 shares

Line Business Other Businesses
$4,757,666 $12,342,334

The accompanying Statement of Accounting Policies and Notes form part of and are to be read in conjunction with these Financial Statements.

The Financial Statements have been prepared solely for the purpose of complying with Regulations 6[2] and 6[3] of the Electricity [Information Disclosure] Regulations 1994 and are not intended for any other purpose.



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✨ LLM interpretation of page content

🏭 Tauranga Electricity Limited 1995 Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
31 March 1995
Financial Statements, Accounting Policies, Revenue Recognition, Depreciation, Leases, Income Tax, Fixed Assets, Receivables, Inventories, Electricity, Tauranga