New Zealand Gazette – 1997 – No. 90

Page 2149

✨ Financial Statements



18 AUGUST NEW ZEALAND GAZETTE 2149

ALPINE ENERGY LIMITED
FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH THE
ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 1994

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 1997 (CONTINUED)

2. OPERATING REVENUE

1997 1996
Lines Other Lines Other
Operating revenue comprises:
Use of System Charges 10,106 - 9,301 -
Contracting Revenue 1,094 624 - 641
Customer Contributions 590 - 795 -
Sundry - Other 66 - 149 7
11,856 624 10,245 648

3. TAXATION

Income Tax Expense 1997 1996
Lines Other Lines Other
Operating Surplus before Income Tax 4,090 115 3,948 42
Add/(Deduct):
Non Deductible Costs 141 - - -
Non Assessable Income ( 590 ) - ( 1,266 ) -
Utilisation of Group Tax Losses - - - -
Timing Differences ( 20 ) ( 17 ) - ( 3 )
Taxable Income 3,621 98 2,682 45
Taxation Charge @ 33% 1,195 32 885 15
Prior Year Over (Under) Provisions ( 142 ) - - -
Income Tax Expense 1,053 32 885 15
The income tax expense is represented by:
Current Taxation 1,046 32 885 15
Deferred Taxation 7 - - -
1,053 32 885 15

Deferred Income Tax Liability (Asset)
Balance at Beginning of Year ( 142 ) ( 142 )
Current Year Timing Differences 7 ( 142 )
Balance at End of Year ( 135 ) ( 142 )

Taxation Liability
Income Tax Expense 1,053 32 885 15
Add/(Deduct):
Deferred Tax 135 - 142 -
Income Tax Paid ( 1,272 ) 36 ( 1,027 ) ( 15 )
Provision for Tax ( 84 ) ( 4 ) - -

Imputation Credit Account
Opening Balance 1,021 12 1,111 -
Imputation Credits Attached to Dividends Paid in the Year ( 1,031 ) ( 15 ) ( 1,117 ) ( 3 )
Net Income Tax Payments During the Year 1,272 36 1,027 15
Closing Balance 1,262 33 1,021 12


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