New Zealand Gazette – 1998 – No. 116

Page 2842

✨ Financial Statements Notes



2842 NEW ZEALAND GAZETTE No. 116

WAITOMO ENERGY SERVICES LIMITED

Electricity and Other Business Activity

Notes to the Financial Statements

For the Year Ended 31st March 1998

NOTE 2:

Taxation Expense

1998 1997
Nominal Profit Before Tax 1,052,564 1,769,892
Prima Facie Taxation @ 33% 347,367 584,064
Add/(Less) Effect of Permanent Tax Diff 21,348 8,411
Plus Prior Period Liability (2,857) (2,162)
Net Taxation Expense $ 371,552 $ 590,313

NOTE 3:

Customer Discount

1998 1997
Discount Declared 1,128,000 739,147
Less Taxation Effect 372,240 243,918
$ 755,760 $ 495,228

NOTE 4:

Fixed Assets 1998

Cost At Valuation Accumulated Depreciation Carrying Value
Land 0 132,130 0 132,130
Buildings 0 821,257 12,378 808,879
Generation System 2,034,127 7,079,347 401,451 8,712,023
MV Plant & Equipment 912,371 0 487,766 424,605
Capital Work in Progress 9,221 0 0 9,221
2,955,719 8,032,734 901,595 10,086,858

Fixed Assets 1997

Cost At Valuation Accumulated Depreciation Carrying Value
Land 0 142,088 0 142,088
Buildings 0 859,488 0 859,488
Generation System 1,844,726 7,079,347 270,189 8,653,884
MV Plant & Equipment 795,369 0 366,709 428,660
Capital Work in Progress 139,910 0 0 139,910
2,780,005 8,080,923 636,898 10,224,030


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🏭 Waitomo Energy Services Limited Financial Performance Statement (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Financial Statements, Notes, Taxation, Customer Discount, Fixed Assets, Depreciation, Valuation