New Zealand Gazette – 1998 – No. 122

Page 2939

✨ Financial Statements



21 AUGUST NEW ZEALAND GAZETTE 2939

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 1998 (CONTINUED)

3. TAXATION

Income Tax Expense 1998 1997
Lines Other Lines Other
Operating Surplus before Income Tax 5,369 41 4,090 115
Add/(Deduct):
Non Deductible Costs 141 - 141 -
Non Assessable Income (683) - (590) -
Timing Differences (419) (23) (20) (17)
Taxable Income 4,408 18 3,621 98

Taxation Charge @ 33% | 1,455 | 6 | 1,195 | 32 |
Prior Year Over/(Under) Provisions | 24 | - | (142) | - |

| Income Tax Expense | 1,479 | 6 | 1,053 | 32 |

The income tax expense is represented by:

| | | | | |
| Current Taxation | 1,340 | (2) | 1,046 | 32 |
| Deferred Taxation | 139 | 8 | 7 | - |
| | 1,479 | 6 | 1,053 | 32 |

Deferred Income Tax Liability (Asset)

| | | | | |
| Balance at Beginning of Year | (135) | - | (142) | - |
| Current Year Timing Differences | 139 | 8 | 7 | - |
| Balance at End of Year | 4 | 8 | (135) | - |

Taxation Liability

| | | | | |
| Income Tax Expense | 1,479 | 6 | 1,053 | 32 |
| Add/(Deduct): | | | | |
| Deferred Tax | (4) | (8) | 135 | - |
| Income Tax Paid | (1,256) | (5) | (1,272) | (36) |
| Provision for Tax | 219 | (7) | (84) | (4) |

Imputation Credit Account

| | | | | |
| Opening Balance | 1,262 | 33 | 1,021 | 12 |
| Imputation Credits Attached to Dividends Paid in the Year | (1,009) | (3) | (1,031) | (15) |
| Net Income Tax Payments During the Year | 1,256 | 5 | 1,272 | 36 |
| Closing Balance | 1,509 | 35 | 1,262 | 33 |

4. RESERVES

Asset Revaluation Reserve

| | | | | |
| Balance at Beginning of the Year | 39,889 | - | 39,889 | - |
| Net Revaluations | - | - | - | - |
| Balance at End of the Year | 39,889 | - | 39,889 | - |



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