New Zealand Gazette – 1997 – No. 103

Page 2408

✨ Financial Statements Notes



2408 NEW ZEALAND GAZETTE No. 103

LINE BUSINESS ACTIVITY - NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 1997

Note 1 Revenue

1997 $ 1996 $
Line Services 7,138,664 6,475,749
Transmission 2,598,580 2,271,410
Line Contracting 585,340 362,183
Sundry Income 43,153 32,251
Capital Contributions 373,797 272,491
Total $10,739,534 $9,414,084

Note 2 Operating Expenditure

1997 $ 1996 $
Transmission Charges 2,510,437 2,219,124
Directors Fees & Exps 63,702 103,494
Shareholder Committee Fees & Exps 16,000 18,803
Grant - Electricity Ashburton Trust 0 24,723
Audit Fees - Annual 14,250 16,717
Audit Fees - Other 1,250 1,047
Interest Paid 63,709 12,170
Other 4,086,087 3,065,561
Total $6,755,435 $5,461,639

Note 3 Taxation

Taxation Reconciliation:

1997 $
Accounting Operating Surplus before Taxation 1,302,421

| Prima Facie Taxation @ 33% | 429,801 |

| Plus Tax Effect of:- |
| Permanent Differences | 44,785 |
| Prior Year Adjustment | 257,645 |
| Taxation Charge for Year | $732,231 |

1996 $
Accounting Operating Surplus before Taxation 1,382,233

| Prima Facie Taxation @ 33% | 456,136 |

| Plus Tax Effect of:- |
| Permanent Differences | 6,542 |
| Prior Year Adjustment | 178,024 |
| Taxation Charge for Year | $640,702 |



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✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
13 July 1997
Electricity, Financial Performance, Revenue, Expenditure, Taxation, Accounting