New Zealand Gazette – 1996 – No. 133

Page 3244

✨ Electricity Financial Statements



3244 NEW ZEALAND GAZETTE No. 133

TOP ENERGY LIMITED

SPECIAL PURPOSE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 1996

LINE BUSINESS $ ENERGY TRADING $
4 TAXATION
The taxation provision has been calculated as follows:
Profit for the period 3,613,160 591,892
Taxation for the period at 33% 1,192,343 195,324
Plus/(Less) tax effect of:
Non deductible items 115,641 18,944
Prior year adjustment (94,998) (15,562)
Losses utilised (106,320) (17,417)
Unrecognised timing differences (337,265) (55,249)
769,401 126,040

The taxation charge is represented by:
| | | |
| Prior year adjustment | 55,831 | 9,146 |
| Taxation payable in respect of the current period | 864,399 | 141,602 |
| Deferred taxation | (150,830) | (24,708) |
| | 769,401 | 126,040 |

Movement on deferred taxation as
| | | |
| Opening balance | 150,830 | 24,708 |
| Movement for the period| (150,830) | (24,708) |
| Closing balance | 0 | 0 |

The Company has not recognised a deferred tax liability of $497,395 on timing differences of $1,507,257.

5 DIVIDENDS

| | | |
| Ordinary dividend paid (0.024 cents per share) | 56,312 | 871 |
| Ordinary dividend recommended | | |
| Total dividends paid or provided | 56,312 | 871 |

6 SHARE CAPITAL

Authorised, issued and paid up capital
23,042,500 ordinary shares

| | | |
| | 22,972,500 | 70,000 |

The ordinary shares were issued to the trustees of The Bay of Islands Power Trust in consideration for the net assets vested in the Company on 1 May 1993.

Page 11



Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1996, No 133


NZLII — PDF NZ Gazette 1996, No 133




✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
Electricity, Financial Statements, Income, Net Profit, Net Finance Costs, Top Energy Limited