New Zealand Gazette – 1996 – No. 173

Page 4557

✨ Financial Statements Notes



29 NOVEMBER NEW ZEALAND GAZETTE 4557
TRANS POWER NEW ZEALAND LIMITED GROUP

                                                         NOTES TO THE FINANCIAL STATEMENTS
                                                         FOR THE YEAR ENDED 30 JUNE 1996
  1. TAXATION (cont.)

Deferred Tax Liability Memorandum Account

                                                 1996        1995
                                                 $000        $000

Balance at the beginning of the year 207,996 195,486
Deferred tax liability not recognised in this year 11,611 13,355
Prior period adjustment - (845)
Balance at the end of the year 219,607 207,996

These timing differences predominantly relate to depreciation and infrastructure asset
service potential adjustment in respect of fixed assets, and are not recognised in the
financial statements.

Imputation Credit Memorandum Account

Balance at the beginning of the year 22,812 25,000
Loss of continuity debit - (25,000)
Tax payments made 29,112 22,812
Imputation credits attached to dividends
paid to shareholders (31,353) -
Balance at the end of the year 20,571 22,812

The loss of continuity debit arises due to the transfer of shareholdings on 1 July 1994.

  1. CURRENT ASSETS

                                                 30 June 1996    30 June 1995
                                             $000          $000

Cash and bank 394 7
Short term investments 141,684 -
Trade receivables 58,259 59,590
Other receivables 386 2,781
Stocks of materials 25,234 32,129
Prepayments 1,485 2,219
Total Current Assets 227,442 96,726

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Trans Power New Zealand Limited (continued from previous page)

🏭 Trade, Customs & Industry
5 November 1996
Financial Statements, Deferred Tax Liability, Imputation Credit, Current Assets, Taxation, Trans Power New Zealand Limited