New Zealand Gazette – 1996 – No. 99

Page 2582

✨ Financial Statements

NEW ZEALAND GAZETTE

No. 99

Power New Zealand Limited

2 OTHER TRADING INCOME INCLUDES

	1996 Network ($000)	1995 Business Unit(s) Network ($000)	1996 Energy ($000)	1995 Energy ($000)
Interest Received	3,990	3,869	1,190	1,151

3 OPERATING SURPLUS BEFORE TAXATION AFTER CHARGING (CREDITING): NON-RECURRING ITEMS

	1996 Network ($000)	1995 Business Unit(s) Network ($000)	1996 Energy ($000)	1995 Energy ($000)
Energy Sector Reform Expenses	(106)	-	-	-
Share Issue Expenses	-	469	(54)	-
Prior period sales adjustment	-	1,095	-	(1995)
	(106)	1,564	(54)	(1995)

OTHER EXPENSES INCLUDE

	1996 Network ($000)	1995 Business Unit(s) Network ($000)	1996 Energy ($000)	1995 Energy ($000)
Audit fees	71	164	-	-
Depreciation	21,491	13,891	412	86
Other fees paid to Auditors	178	512	-	-
Other payments to Directors	102	299	-	-
Directors’ fees	319	157	-	-
Interest on loans	129	909	39	285
Research and Development	96	1,728	(1)	-
Lease and Rental	3	11	62	-
	22,389	17,671	512	371

4 TAXATION CURRENT YEAR TAXATION CHARGE

	1996 Network ($000)	1995 Business Unit(s) Network ($000)	1996 Energy ($000)	1995 Energy ($000)
Operating Surplus Before Taxation	30,897	31,735	21,788	12,655
Taxation at 33%	10,196	10,472	7,190	4,176
Permanent Differences	2,570	2,319	(363)	(736)
Adjustment Relating to Prior Years	-	-	-	(175)
	12,766	12,791	6,827	3,265

THE TAXATION CHARGE IS REPRESENTED BY:

	1996 Network ($000)	1995 Business Unit(s) Network ($000)	1996 Energy ($000)	1995 Energy ($000)
Current Taxation	14,592	11,646	6,827	3,265
Deferred Taxation	(1,826)	1,145	-	-
	12,766	12,791	6,827	3,265

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VUW Te Waharoa — NZ Gazette 1996, No 99

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🌾 Notes to Financial Statements of Power New Zealand Limited (continued from previous page)

Domain🌾 Primary Industries & Resources
KeywordsFinancial Statements, Accounting Policies, Electricity, Disclosure Regulations

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