New Zealand Gazette – 1998 – No. 149

Page 3606

✨ Financial Notes and Accounts

3606 NEW ZEALAND GAZETTE No. 149

NOTES TO THE ACCOUNTS

Note 1 : Taxation

	Line Business $000		Generation Business $000		Contracting Business $000
	1998	1997	1998	1997	1998	1997
Net Profit Before Tax	9,515	10,315	5,311	5,230	1,848	2,059
Permanent Difference Due to Revaluation	2,439	2,315	-	-	129	-
Capital Loss on Asset Sale	-	-	-	-	-	-
	3,945	4,168	1,759	1,726	653	679
Tax at 33 cents in the Dollar	-	-	-	-	-	-
Under/(Over) Provided Prior Year	-	-	(27)	(10)	-	-
Timing Differences not Recognised	-	-	-	-	-	-
Income Tax Charge	3,945	4,168	1,732	1,716	653	679

There is a potential deferred taxation liability relating to timing differences which are not expected to crystallise within the foreseeable future and which have not been recognised as a liability in the statement of financial position. This potential tax liability amounts to approximately $13.1 million ($12.5 million in 1997).

Note 2 : Current Assets

	Line Business $000		Generation Business $000		Contracting Business $000
	1998	1997	1998	1997	1998	1997
Accounts Receivable	83	151	345	1,465	1,384	1,979
Internal Investment	4,128	4,971	-	-	2,524	3,918
Bank	-	-	7	-	-	-
Consumable Inventories	87	-	-	-	803	715
	4,298	5,122	352	1,465	4,711	6,612

Note 3 : Current Liabilities

	Line Business $000		Generation Business $000		Contracting Business $000
	1998	1997	1998	1997	1998	1997
Accounts Payable	953	1,350	982	1,455	839	797
Taxation Payable	3,945	4,168	(859)	(194)	653	679
Dividend Payable	5,570	5,225	4,160	374	1,195	1,173
Internal Advance	-	-	-	-	-	-
	10,468	10,743	4,283	1,629	2,687	2,649

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VUW Te Waharoa — NZ Gazette 1998, No 149

NZLII — NZ Gazette 1998, No 149

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✨ LLM interpretation of page content

🏭 Certification of Financial Statements for Dunedin Electricity Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated26 June 1998
KeywordsFinancial Statements, Certification, Dunedin Electricity Limited, Electricity Regulations

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