New Zealand Gazette – 1996 – No. 107

Page 2775

✨ Financial Statements



6 SEPTEMBER NEW ZEALAND GAZETTE 2775

HAWKE’S BAY POWER DISTRIBUTION LIMITED AND SUBSIDIARY

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 1996 (Continued)

d) Movement in Deferred Taxation (Timing Differences) 1996 Lines Business $000 1995 Lines Business $000 1996 Other Businesses $000 1995 Other Businesses $000
Opening Balance (30) (48) 6 2
PLUS: Net Movement in Timing Differences 557 18 (13) 4
527 30 (7) 6
e) Imputation Credit Account Opening Balance - - 345 345
- - 345 345

4 OPERATING SURPLUS BEFORE TAXATION

After charging:
Bad Debts Written Off 108 177 176 296
Change in Provision for Doubtful Debts 12 3 16 (3)
After Crediting:
Interest Revenue from Cash Management 68 153 322 311
Recovery of Debt previously written off as bad 11 14 13 13

5 AUDITORS REMUNERATION
Accounts payable or due and payable to the Auditors for:
Auditing Financial Statements 16 16 8 11

Other Services:
Lines Entity Auditor 3 6 - -

6 DIRECTORS REMUNERATION
Remuneration Paid to Directors 90 86 - -

In addition to the above remuneration, Directors receive a discount of up to 25% on the purchase of goods and services from the Appliance Sales and Servicing activities within the Group.

7 SHARE CAPITAL

1996 Lines Business $000 1995 Lines Business $000 1996 Other Businesses $000 1995 Other Businesses $000
Authorised Capital
100,000,000 ordinary shares of $1 each 100,000,000 100,000,000 - -
10,000,000 ordinary shares of $1 each 10,000,000 10,000,000
Issued and Paid up Capital
58,000,000 ordinary shares of $1 each 58,000,000 58,000,000
6,000,000 ordinary shares of $1 each 6,000,000 6,000,000


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🏭 Hawke's Bay Power Distribution Ltd Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
6 September 1996
Electricity, Financial Statements, Information Disclosure, Hawke's Bay Power Distribution Ltd