✨ Financial Statements
NEW ZEALAND GAZETTE
1 AUGUST
1967
3. OPERATING SURPLUS BEFORE TAXATION
| Line Business 1997 | Other Business 1997 | Line Business 1996 | Other Business 1996 |
|---|---|---|---|
| $000 | $000 | $000 | $000 |
Resulting operating surplus before taxation is stated 1,373 580 1,775 528
After charging:
Directors Remuneration 89 6 86 6
Audit Fees 26 3 20 2
Other fees Paid or Due to Auditors 10 - 16 1
Depreciation 2,703 180 2,305 145
Rent - 43 - 23
Interest 120 - - -
Bad Debts Written Off 118 - 137 -
Main Depot Complex Writedown - - 454 -
Customer Discounts 2,451 - 2,071 894
Loss on Disposal of Fixed Assets 6 - 39 -
After crediting:
Interest and Sundries 77 - 401 -
Gain on Disposal of Fixed Assets 10 - 481 -
4. TAXATION
| Line Business 1997 | Other Business 1997 | Line Business 1996 | Other Business 1996 |
|---|---|---|---|
| $000 | $000 | $000 | $000 |
Accounting profit before taxation 1,373 580 1,775 528
Prima facie taxation 454 191 586 174
Plus/(less) taxation effect of:
Non deductible expenses 20 - 12 -
Non assessable income - - - -
Tax effect of timing differences and overprovision in prior years (130) - 20 -
344 191 618 174
The taxation charge is represented by:
Current Taxation 130 191 432 174
Deferred Taxation 214 - 186 -
344 191 618 174
Deferred taxation is represented by:
Deferred taxation 1 April 1996 624 - 438 -
Current charge 214 - 186 -
Deferred taxation 31 March 1997 838 - 624 -
Imputation credit account:
Balance as at 1 April 1996 345 - 1,462 -
Imputation credits attached to dividends paid during the period - - (1,470) -
Tax refunds received - - (147) -
Other credit adjustments 7 - - -
Income tax payments made during the period 619 - 500 -
Balance as at 31 March 1997 971 - 345 -
5. SHARE CAPITAL
| As at 31 March 1997 | Line Business 1997 | Other Business 1997 | Line Business 1996 | Other Business 1996 |
|---|---|---|---|---|
| $000 | $000 | $000 | $000 |
Authorised & Issued Capital:
15,000,000 Ordinary Shares of $1 each fully paid 13,514 1,486 13,514 1,486
6. SHARE PREMIUM RESERVE
| As at 31 March 1997 | Line Business 1997 | Other Business 1997 | Line Business 1996 | Other Business 1996 |
|---|---|---|---|---|
| $000 | $000 | $000 | $000 |
Share Premium Reserve 15,797 - 15,797 -
The Establishment Plan for Counties Power Limited provided for the issue of ordinary shares at par value $15,000,000. The balance of corporate ownership of Franklin Electric Power Board at the date of incorporation of the company (17 May 1993) was allocated to a Share Premium Reserve.
7. ACCOUNTS RECEIVABLE
| As at 31 March 1997 | Line Business 1997 | Other Business 1997 | Line Business 1996 | Other Business 1996 |
|---|---|---|---|---|
| $000 | $000 | $000 | $000 |
Accounts Receivable from normal trading 2,501 2,607 2,410 2,538
Finance Agreements/HP 3 87 9 339
Other Receivables 153 78 163 120
Tax Refund Due 497 - 174 -
Provision for Bad Debts (50) (50) (50) (50)
3,104 2,722 2,706 2,947
8. INVENTORIES
| As at 31 March 1997 | Line Business 1997 | Other Business 1997 | Line Business 1996 | Other Business 1996 |
|---|---|---|---|---|
| $000 | $000 | $000 | $000 |
Inventories on hand comprise:
General Reticulation 19 - 34 -
Retail Appliances - 287 - 296
Electrical Servicing - - 4 -
Other - - 6 -
19 287 44 296
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NZ Gazette 1997, No 80
✨ LLM interpretation of page content
🌾
Certification of Financial Statements and Performance Measures for Counties Power Limited
(continued from previous page)
🌾 Primary Industries & Resources25 June 1997
Electricity, Information Disclosure, Financial Statements, Performance Measures, Counties Power Limited