New Zealand Gazette – 1997 – No. 176

Page 4180

✨ Financial Statements Notes



NEW ZEALAND GAZETTE

No. 176

NELSON ELECTRICITY LIMITED

Notes to the Financial Statements for the Year Ended 31 March 1997

1997 Line Business $000 1997 Other Business $000 1996 Line Business $000 1997 Other Business $000

(1) Fixed Assets

Distribution system

  • cost | 10,610 | 0 | 10,592 | 0 |
  • accumulated depreciation | 5,157 | 0 | 4,734 | 0 |
  • book value | 5,453 | 0 | 5,858 | 0 |

Land

  • cost | 15 | 0 | 15 | 0 |

Buildings

  • cost | 144 | 0 | 144 | 0 |
  • accumulated depreciation | 56 | 0 | 53 | 0 |
  • book value | 88 | 0 | 91 | 0 |

TOTAL FIXED ASSETS | 5,556 | 0 | 5,964 | 0 |

(2) Taxation

  • Surplus before taxation | 1,340 | 163 | 1,461 | 18 |

  • Taxation at 33% | 442 | 54 | 482 | 6 |

  • Plus permanent difference tax effect | 18 | 0 | 20 | 0 |

  • Less prior year deferred tax adjustment | 3 | 0 | (21) | 0 |

  • Tax expense per Statement of Financial Performance | 463 | 54 | 481 | 6 |

Comprising:

  • Current taxation | 416 | 54 | 497 | 6 |
  • Deferred taxation | 47 | 0 | (16) | 0 |

(3) Deferred Taxation

  • Balance 1/4/96 | 37 | 0 | 53 | 0 |
  • Deferred tax prior period | 17 | 0 | (21) | 0 |
  • Deferred tax current period | 29 | 0 | 5 | 0 |
  • Balance 31/3/97 | 83 | 0 | 37 | 0 |


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🏭 Notes to the Financial Statements of Nelson Electricity Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Fixed Assets, Taxation, Deferred Taxation, Nelson Electricity Limited