New Zealand Gazette – 1998 – No. 141

Page 3432

✨ Financial Statements



Wairoa Power Limited - Lines Business

STATEMENT OF FINANCIAL PERFORMANCE

FOR THE YEAR ENDED 31 MARCH 1998

Note 1998 1997
SALES 3,606,860 3,275,278
Cost of Sales 831,599 914,361
Operating costs 2,022,427 1,909,752
Total Operating and Trading Costs 2,854,026 2,824,113
NET OPERATING PROFIT 752,834 451,165
Other Income 96,881 111,159
NET PROFIT BEFORE TAXATION 2 849,715 562,324
Provision for Taxation 3 315,742 193,325
NET PROFIT AFTER TAXATION 533,973 368,999

STATEMENT OF MOVEMENTS IN EQUITY

FOR THE YEAR ENDED 31 MARCH 1998

Note 1998 1997
Equity at 1 April 1997 5,764,574 5,648,542
Net Profit for period 533,973 368,999
Movement in valuation of land and buildings - 5,241
Total recognised revenues and expenses for year 533,973 374,240
Dividends paid or payable 4 270,877 258,208
Equity at 31 March 1998 6,027,670 5,764,574

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 1998

Note 1998 1997
SHAREHOLDERS FUNDS 6,027,671 5,764,575
CURRENT LIABILITIES
Accounts Payable and Accruals 5 612,069 617,279
Provision for Dividend 4 270,877 258,207
Provision for Income Tax 80,566 122,831
963,512 998,317
NON CURRENT ASSETS
Fixed Assets 8 4,181,327 4,135,844
Deferred Taxation 3 10,782 15,279
CURRENT ASSETS 4,192,109 4,151,123
Bank & Cash 1,904,007 1,580,139
Receivables and prepayments 6 663,415 773,874
Inventories 7 231,651 258,756
2,799,073 2,612,769

The accompanying notes form part of these financial statements.

No. 141
NEW ZEALAND GAZETTE



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🏭 Financial Performance and Position of Wairoa Power Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Performance, Equity, Assets, Liabilities, Wairoa Power Limited