New Zealand Gazette – 1997 – No. 177

Page 4205

✨ Natural Gas Corporation Financial Statements



16 DECEMBER NEW ZEALAND GAZETTE 4205

  1. Surplus before Taxation

Surplus before Taxation is stated after charging:

$ Thousands
Directors’ fees 9
Audit fees and expenses 5
Fees for other services paid to the Auditors 18
Depreciation 466
Leasing Costs 249
  1. Income Tax
$ Thousands

The Income Tax Expense has been calculated as follows:

| | |
| Surplus before Taxation | 4,430 |
| Income Tax at 33% | 1,462 |
| Adjustments to taxation for:
| Non-deductible expenditure | 22 |
| Taxation charge in Statement of Financial Performance | 1,440 |

  1. Fixed Assets

| | Cost/
| | Valuation | Accumulated Depreciation | Net Book Value |
|-------------------------|------------|--------------------------|----------------|
| | $ Thousands| $ Thousands | $ Thousands |
| Machinery and Equipment | 5,014 | 3,262 | 1,752 |
| Motor Vehicles | 1,511 | 569 | 942 |
| Freehold Land and Buildings | 81 | 7 | 74 |
| Total | 6,606 | 3,838 | 2,768 |

Based on the latest Government valuations the Directors estimate that the fair valuation of land and buildings is approximately equivalent to their net book value as at 30 June 1997.

  1. Deferred Expenditure
$ Thousands
Balance as at 1 July 1996 1,391
Plus amounts capitalised 124
Less amounts amortised to expenses 164
1,351


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✨ LLM interpretation of page content

🏭 Natural Gas Corporation Financial Position (continued from previous page)

🏭 Trade, Customs & Industry
2 December 1997
Natural Gas, Financial Statements, Gas Retailing, Assets, Liabilities, Equity