New Zealand Gazette – 1997 – No. 118

Page 2800

✨ Financial Statements



2800 NEW ZEALAND GAZETTE No. 118

2 OTHER TRADING INCOME INCLUDES

1997 Network ($000) 1996 Business Unit(s) Network ($000) 1997 Energy ($000) 1996 Energy ($000)
Interest Received 1,859 3,990 767 1,190

3 OPERATING SURPLUS BEFORE TAXATION

AFTER CHARGING (CREDITING):
NON-RECURRING ITEMS

| Energy Sector Reform Expenses | - | (106) | - | - |
| Share Issue Expenses | - | - | - | (54) |
| Total | - | (106) | - | (54) |

OTHER EXPENSES INCLUDE

1997 Network ($000) 1996 Network ($000) 1997 Energy ($000) 1996 Energy ($000)
Audit fees 75 71 - -
Depreciation 20,083 21,491 260 412
Other fees paid to Auditors 83 89 55 59
Other payments to Directors 24 51 16 34
Directors fees 319 319 - -
Interest on loans 0 129 - 39
Research and Development 2 96 - (1)
Lease and Rental 108 3 22 62
Total 20,694 22,249 353 605

4 TAXATION CURRENT YEAR

TAXATION CHARGE

| Operating Surplus Before Taxation | 47,297 | 30,897 | 21,179 | 21,788 |
| Taxation at 33% | 15,608 | 10,196 | 6,989 | 7,190 |
| Permanent Differences | 742 | 2,570 | (244) | (363) |
| Total Taxation | 16,350 | 12,766 | 6,745 | 6,827 |

THE TAXATION CHARGE IS REPRESENTED BY:

1997 Network ($000) 1996 Network ($000) 1997 Energy ($000) 1996 Energy ($000)
Current Taxation 15,928 10,940 6,745 6,827
Deferred Taxation 422 1,826 - -
Total 16,350 12,766 6,745 6,827


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✨ LLM interpretation of page content

💰 Notes to and Forming Part of the Financial Statements (continued from previous page)

💰 Finance & Revenue
Financial Statements, Operating Surplus, Taxation, Expenses, Revenue, Audit Fees, Depreciation, Directors Fees