New Zealand Gazette – 1998 – No. 133

Page 3252

✨ Financial Statements



3252 NEW ZEALAND GAZETTE No. 133

1998
$
1997
$

Comprising:

Current Taxation 353,146 162,403
Prior Year Adjustment 0 0
Deferred Taxation 212,901 569,828

                          $566,047          $732,231
                          ========          =======

While the Deferred Tax effect of the revaluation of the distribution asset totalling $5,523,894 has been recognised at the date of the revaluations, additional deferred tax of $579,241, which would arise if the distribution asset was sold at balance date, has not been recognised.

Imputation Credits:

1998 1997
$ $
Opening Balance 1,832,540 1,495,032
Taxation Paid During 234,706 337,508
the Year
Adjustment re: (883,093) 0
Shareholder Continuity
Closing Balance $1,184,153 $1,832,540
__ __

Note 4 Fixed Assets

Cost Accumulated Depreciation 1998 Book Value 1997 Book Value
$ $
Distribution 62,809,741 2,299,756 60,509,985 27,664,760
Network
Land & Buildings 1,695,136 192,038 1,503,098 1,361,147
Motor Vehicles 2,951,487 1,770,300 1,181,187 965,417
Plant & Equipment 2,369,930 1,569,363 800,567 917,885
__ ___ __ __
$69,826,294 $5,831,457 $63,994,837 $30,909,209

Note 5 Accounts Receivable

1998 1997
$ $
Trade Debtors 751,794 749,487
Prepayments 12,471 12,996
Accrued Income 186,076 224,061
____ ____
$950,341 $986,544


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✨ LLM interpretation of page content

🏭 Line Business Activity Financial Statements for 1997 (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Revenue, Operating Expenditure, Taxation, Line Services, Transmission