New Zealand Gazette – 1996 – No. 124

Page 3118

✨ Financial Statements Notes



3118

NEW ZEALAND GAZETTE

No. 124

LINE BUSINESS ACTIVITY - NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 1996

Note 1 Revenue

1996 $ 1995 $
Line Services 6,475,749
Transmission 2,271,410
Line Contracting 362,183
Capital Contributions 272,491
$9,381,833 $8,978,234

Note 2 Operating Expenditure

1996 1995
Transmission Charges 2,219,124 2,017,406
Directors Fees & Exps 103,494 102,699
Shareholder Committee Fees & Exps 18,803 0
Grant - Electricity Ashburton Trust 24,723 58,339
Audit Fees - Annual 16,717 17,452
Audit Fees - Other 1,047 0
Interest Paid 12,170 6,407
Other 3,033,310 3,047,903
$5,429,388 $5,250,206

Note 3 Taxation

Taxation Reconciliation:

Accounting Operating Surplus before Taxation 1,382,233 1,971,311
Prima Facie Taxation @ 33% 456,136 650,532
Plus Tax Effect of:-
Permanent Differences 6,542 13,012
Prior Year Adjustment 178,024 (74)
Taxation Charge for Year $640,702 $663,470

Comprising:

1996 1995
Current Taxation 200,418 629,301
Prior Year Adjustment 20 0
Deferred Taxation 440,264 34,169
$640,702 $663,470

1996 $

Imputation Credits:

1996 $ 1995 $
Opening Balance 857,480 450,225
Taxation Paid During the Year 637,552 407,255
Credits Attached to Dividends Paid 0 0
Closing Balance $1,495,032 $857,480

Note 4 Fixed Assets

Cost Accumulated Depreciation 1996 Book Value 1995 Book Value
Distribution Network 40,835,213 15,625,830 25,209,383 22,855,337
Land & Bldgs 1,485,406 162,826 1,322,580 1,480,277
Motor Vehicles 1,568,859 793,307 775,552 632,563
Plant & Equipment 1,830,371 1,019,798 810,573 685,047
$45,719,84 $17,601,761 $28,118,08 $25,653,22

Note 5 Accounts Receivable

1996 $ 1995 $
Trade Debtors 1,065,044 841,927
Prepayments 12,847 16,254
Accrued Income 542,384 690,288
$1,620,275 $1,548,469

Note 6 Accounts Payable

1996 1995
Trade Creditors 645,178 585,360
Accruals 0 0
Employee Provisions 246,092 226,237
$891,270 $811,597

Note 7 Financial Commitments

Estimated capital expenditure contracted for at balance but not provided for $669,224

Note 8 Deferred Shares

These shares are owned by the Ashburton District Council and have no rights as to:

a) Any distribution of dividends or rebates or

b) Exercise any vote except as provided in clause 3.11 and 3.14 of the Company's Articles of Association.

c) Any distribution on a winding up of Company.



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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, Financial Statements, Ashburton Limited, Revenue, Expenditure, Equity, Assets, Liabilities