β¨ Financial Report
5 AUGUST
NEW ZEALAND GAZETTE
2583
WAIPA POWER LIMITED - LINE BUSINESS
| 1998 | 1997 | |
|---|---|---|
| $ | $ |
2 NET PROFIT BEFORE TAXATION
After Charging:
Direct Expenditure ... 1,693,385 ... 1,851,501
Audit fees and expenses ... 16,604 ... 18,238
Directors' fees ... 41,130 ... 36,083
Bad Debts ... 11,373 ... 17,413
Other Indirect expenditure ... 1,081,666 ... 1,113,074
Depreciation ... 268,216 ... 244,587
Net Loss on Disposal of Fixed Assets ... - ... 448,537
After Crediting:
Interest Received ... 57,380 ... 67,639
3 TAXATION
Net profit before taxation ... 2,901,056 ... 2,021,946
Prima facie taxation at 33% ... 957,348 ... 667,242
Tax effect of permanent differences ... - ... 148,017
Tax effect of timing differences not recognised ... (246,434) ... (168,299)
Taxation Expense ... 710,914 ... 646,960
Over provision previous year ... - ... 345
Adjustments previous years ... -
Total Taxation Expense ... 710,914 ... 647,305
The Taxation charge comprises:
- current taxation ... 710,914 ... 647,305
- deferred taxation ... -
4 SHARE CAPITAL
Authorised, Issued & Paid-up Share Capital
8,000,000 ordinary shares of $1 each ... 8,000,000 ... 8,000,000
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VUW Te Waharoa —
NZ Gazette 1998, No 106
NZLII —
NZ Gazette 1998, No 106
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Accounting Policies of Waipa Power Limited
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π Trade, Customs & IndustryFinancial Report, Net Profit, Taxation, Share Capital, Waipa Power Limited