New Zealand Gazette – 1997 – No. 170

Page 4080

✨ Financial Statements Continuation



4080
NEW ZEALAND GAZETTE
No. 170

  1. Surplus Before Taxation

After Charging :
Audit Fees 6,587 2,492
Depreciation 726,077 21,645
Directors' Fees 17,263 6,532
Interest : Fixed Loans 394,068 19,003
Rental & Operating Lease Costs 65,514 24,788
Movements in provision for doubtful debts 0 (4,929)
Bad debts written off 0 12,809

After Crediting :
Interest From Short Term Deposits 2,523 4,341
Profit On Sale Of Assets 5,762 0

  1. Taxation Expense

Net Profit Before Taxation 1,291,936 121,480

Prima Facie Taxation 426,339 40,088

Plus (Less) :
Non Deductible Items 242 91
Non Taxable Income 0 0
Unrecognised Timing Differences 74,108 2,210

TAXATION EXPENSE FOR PERIOD 500,689 42,389

The Taxation Charge Is Represented By :

Current Taxation 500,689 42,389

The Company has not recognised the deferred tax liability on timing differences which are
not expected to reverse in the foreseeable future. The potential tax liability in respect of
these timing differences at 33% is $732,792 for Distribution and a future tax benefit to
Retail of $15,925.



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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Wanganui Gas Limited (continued from previous page)

🏭 Trade, Customs & Industry
5 December 1997
Financial statements, Accounting policies, Gas (Information Disclosure) Regulations 1997, Wanganui Gas Limited