New Zealand Gazette – 1995 – No. 97

Page 3033

✨ Financial Statements



8 SEPTEMBER NEW ZEALAND GAZETTE 3033

Wairoa Power Limited - Other Businesses

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 1995 continued

2 NET PROFIT BEFORE TAXATION

After Charging:

Audit fees and expenses 14,739
Depreciation 99,430
Directors Fees 33,750
Interest - Local Authority loans 190,781
Interest - other -
Loss on disposal of fixed assets -

After crediting

Interest received 164,070

  1. TAXATION

Profit before taxation 26,626

Prima facie taxation 8,787
Plus/(Less) taxation effect
of permanent differences
Non-deductible legal expenses -
Other permanent differences -
Recognition of Deferred Tax Asset (38,854)
Taxation expense (benefit) (30,067)

The taxation charge is represented by:
Current taxation 182
Deferred taxation (30,249)
(30,067)

There are no income tax losses or unrecognised timing differences carried forward.

DEFERRED TAX ASSET

Balance as at 31 March 1994 -

Depreciation Movement for current year 30,249

Balance as at 31 March 1995 30,249



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✨ LLM interpretation of page content

🏭 Annual General Meeting of Wairoa Power Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Accounting Policies, Wairoa Power Limited, Inventories, Comparative Figures, Electricity Regulations, Net Profit, Taxation, Deferred Tax Asset