New Zealand Gazette – 1995 – No. 95

Page 2967

✨ Financial Statements

6 SEPTEMBER NEW ZEALAND GAZETTE

WESTPOWER LIMITED

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

NOTE 1. INCOME TAX

	Lines Business $ '000	Generation Business $ '000	Other Businesses $ '000
INCOME TAX EXPENSE
Operating Surplus before Income Tax	1,638	1,888	(120)
Taxation thereon at 33%	540	624	(40)
Tax effect of permanent differences	2	0	3
Taxation adjustment previous year	(1)	(2)	(8)
Deferred Tax adjustments	(403)	(339)	166
Income Tax attributable to Operating Surplus	138	283	121

Comprising:

	Lines Business $ '000	Generation Business $ '000	Other Businesses $ '000
Current Tax Provision	327	378	(15)
Deferred Income Tax provision	(188)	(93)	144
Under provision in prior year	(1)	(2)	(8)
	138	283	121

NOTE 2. FIXED ASSETS

Cost/Revaluation	Lines Business $ '000	Generation Business $ '000	Other Businesses $ '000
Distribution System	26,440	0	0
Land	127	0	68
Buildings	1,108	2,929	1,289
Generation Plant & Equipment	0	32,922	0
Other	2,694	106	1,007

| Total Cost/Revaluation | 30,369 | 35,957 | 2,364 |

Accumulated Depreciation inc Deferred Maintenance	Lines Business $ '000	Generation Business $ '000	Other Businesses $ '000
Distribution System	172	0	0
Land	0	0	0
Buildings	140	61	181
Generation Plant & Equipment	0	813	0
Other	1,445	16	517

| Total Accumulated Depreciation | 1,757 | 890 | 698 |

Net Book Value 31 March 1995
Distribution System	26,268	0	0
Land	127	0	68
Buildings	968	2,868	1,108
Generation Plant & Equipment	0	32,109	0
Other	1,249	90	490

| Total Net Book Value 31 March 1995 | 28,612 | 35,067 | 1,666 |

NOTE 3. EQUITIES

Share Capital (authorised, issued & fully paid)	Lines Business $ '000	Generation Business $ '000	Other Businesses $ '000
- 25,000,000 ordinary shares of $1	17,432	4,832	2,737
- 300,000 7.25% Redeemable Preference Shares of $1	209	58	33
Capital Reserve	21	8	8
Transition Reserve	292	80	45
Asset Revaluation Reserve:
- Generation	0	19,608	0
- Distribution	2,962	0	0
- Others	0	0	19
Retained Earnings	1,917	2,052	(308)

| Total | 22,833 | 26,638 | 2,534 |

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VUW Te Waharoa — NZ Gazette 1995, No 95

NZLII — NZ Gazette 1995, No 95

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✨ LLM interpretation of page content

💰 Westpower Limited Financial Statements Notes (continued from previous page)

Domain💰 Finance & Revenue
KeywordsIncome Tax, Fixed Assets, Equities, Financial Position, Westpower Limited

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