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New Zealand Gazette – 1998 – No. 158

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✨ Financial Statements

3806 NEW ZEALAND GAZETTE No. 158

TOP ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 1998

| | LINE BUSINESS | | ENERGY TRADING | |
|--------------------|--------------------|------------------|-------------------|
| | 1998 | 1997 | 1998 | 1997 |
| | $ | $ | $ | $ |

4 TAXATION

The taxation provision has been calculated as follows:

Profit for the period | 3,611,688 | 4,282,388 | 149,245 | 681,747
Taxation for the period at 33% | 1,191,856 | 1,413,188 | 49,252 | 224,977
Plus/(Less) tax effect of:
Non deductible items | 95,262 | 83,874 | 3,936 | 13,353
Prior year adjustment | (256,733) | - | (10,609) | -
Losses utilised | - | - | - | -
Unrecognised timing differences | (342,124) | (706,791) | (14,138) | (112,520)

The taxation charge is represented by:
| 688,261 | 790,271 | 28,441 | 125,810
Prior year adjustment | (256,733) | - | (10,609) | -
Taxation payable in respect of the current period | 944,994 | 790,271 | 39,050 | 125,810
Deferred taxation | - | - | - | -
| 688,261 | 790,271 | 28,441 | 125,810

The Company has not recognised a deferred tax liability of $1,240,328 (1996: $497,395) on timing differences of $3,758,570 (1996: $1,507,257), as these are not expected to reverse in the foreseeable future.

5 DIVIDENDS

| | LINE BUSINESS | | ENERGY TRADING | |
|--------------------------------------|--------------------|------------------|-------------------|
| | 1998 | 1997 | 1998 | 1997 |
| | $ | $ | $ | $ |

Ordinary dividend paid (0.0018 cents per share) | 42,480 | 42,435 | 990 | 540
Ordinary dividend recommended | - | - | - | -
Total dividends paid or provided | 42,480 | 42,435 | 990 | 540

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VUW Te Waharoa — NZ Gazette 1998, No 158

NZLII — NZ Gazette 1998, No 158

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

💰 Notes to the Special Purpose Financial Statements for Top Energy Limited (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Income, Net Profit, Finance Costs, Top Energy Limited

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