New Zealand Gazette – 1995 – No. 93

Page 2888

✨ Financial Statements



2888 NEW ZEALAND GAZETTE No. 93

2 NET PROFIT BEFORE TAXATION

Note 1995
$
After Charging:
Audit fees and expenses 18,253
Depreciation 87,564
Directors' fees 33,324

After Crediting:
Interest Received 274,012
Net Surplus of Assets Disposals 83,532

3 TAXATION

1995
$
Net profit before taxation 894,515
Prima facie taxation at 33% 295,190
Tax effect of permanent differences

  • non-assessable items (16,393)
    Taxation Expense 278,797
    Over provision previous year
    Adjustments Previous Years
    Total Taxation Expense 278,797

The Taxation charge comprises:

  • current taxation 287,497
  • deferred taxation (8,701)
    278,796

Deferred Taxation/(Future Taxation Benefit)
Opening balance (99,565)
Adjustments Previous Years
Deferred portion of current year tax expense (8,701)
(108,266)

Deferred tax relates primarily to non-deductible provisions.

Imputation credit memorandum account.
Balance at the beginning of the year 200,626
Dividends Allocated (150,216)
Taxation paid 302,352
Balance at end of year 352,762



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