New Zealand Gazette – 1996 – No. 124

Page 3115

✨ Financial Statements Notes



20 SEPTEMBER NEW ZEALAND GAZETTE 3115

ENERGY AND OTHER BUSINESS ACTIVITIES - NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 1996

Note 1 Revenue

1996 $ 1995 $
Energy Sales 11,818,985 11,500,760
Appli Sales, Servicing & Wholesale Trading 3,892,661 3,582,548
Line Contracting 401,530 427,135
$16,113,176 $15,510,443

Note 2 Operating Expenditure

1996 $ 1995 $
Directors Fees & Expenses 34,498 24,090
Shareholder Committee Fees & Expenses 6,268 0
Grant Electricity Ashburton Trust 8,241 13,685
Audit Fees - Annual 16,717 17,451
Audit Fees - Other 1,047 0
Interest Paid 4,524 1,914
Other 14,959,852 14,793,846
$15,031,147 $14,850,986

Note 3 Taxation

Taxation Reconciliation:

1996 $ 1995 $
Accounting Operating Surplus before Taxation 513,812 552,811
Prima Facie Taxation @ 33% 169,557 182,427
Plus Tax Effect of:-
Permanent Differences 4,662 11,417
Prior Year Adjustment 51,936 (22)
Taxation Charge for Year $226,155 $193,822

Comprising:

1996 $ 1995 $
Current Taxation 218,388 235,134
Prior Year Adjustment 6 0
Deferred Taxation 7,761 (41,312)
$226,155 $193,822

Imputation Credits:

1996 $ 1995 $
Opening Balance 256,130 134,483
Taxation Paid During the Year 237,005 121,647
Credits Attached to Dividends Paid 0 0
Closing Balance $493,135 $256,130

Note 4 Fixed Assets

Cost Accumulated Depreciation 1996 Book Value 1995 Book Value
Generation 4,829,212 1,516,480 3,312,732 3,415,472
Land & Bldgs 833,210 91,334 741,876 616,393
Motor Vehicles 310,194 156,852 153,342 180,472
Plant & Equipment 617,927 351,568 266,359 234,306
$6,590,543 $2,116,234 $4,474,309 $4,446,637

Note 5 Accounts Receivable

1996 $ 1995 $
Trade Debtors 2,768,242 2,159,966
Prepayments 9,096 9,600
Accrued Income 400,729 957,964
$3,178,067 $3,127,530

Note 6 Accounts Payable

1996 $ 1995 $
Trade Creditors 1,466,065 1,524,696
Accruals 53,968 48,552
Employee Provisions 248,785 172,426
$1,768,818 $1,745,674

Note 7 Financial Commitments

Estimated capital expenditure contracted for at balance but not provided for: Nil

Note 8 Contingent Liabilities

There is a maximum underwriting guarantee of $1,400,000 associated with the share capital in PowerBuy Group Limited to enhance that company's credit rating and negotiating powers with electricity generators.



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✨ LLM interpretation of page content

🏭 Electricity Information Disclosure for Ashburton Limited (continued from previous page)

🏭 Trade, Customs & Industry
13 August 1996
Electricity, Information Disclosure, Ashburton Limited, Financial Statements, Revenue, Operating Expenditure, Taxation, Fixed Assets, Accounts Receivable, Accounts Payable, Financial Commitments, Contingent Liabilities