New Zealand Gazette – 1999 – No. 110

Page 2633

✨ Financial Statements



6 SEPTEMBER NEW ZEALAND GAZETTE 2633

ALPINE ENERGY LIMITED
FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH THE ELECTRICITY
(INFORMATION DISCLOSURE) REGULATIONS 1999

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 1999 (CONTINUED)

  1. TAXATION

Income Tax Expense

Operating Surplus before Income Tax 1999 1998
$'000 $'000
Add/(Deduct):
Non Deductible Costs 154 141
Non Assessable Income (668) (683)
Timing Differences (423) (419)
Taxable Income 5,805 4,408

Taxation Charge @ 33% 1,916 1,455
Prior Year Over (Under) Provisions - 24

Income Tax Expense 1,916 1,479

The income tax expense is represented by:
Current Taxation 1,776 1,340
Deferred Taxation 140 139
1,916 1,479

Deferred Income Tax Liability (Asset)

Balance at Beginning of Year 4 (135)
Current Year Timing Differences 140 139
Balance at End of Year 144 4

Taxation Liability

Income Tax Expense 1,916 1,479
Add/(Deduct):
Deferred Tax (140) (4)
Income Tax Paid (2,196) (1,256)
Income Tax Liability at Beginning of Year 219 -
Provision for Tax (201) 219

Imputation Credit Account

Opening Balance 1,509 1,262
Imputation Credits Attached to Dividends Paid in the Year (670) (1,009)
Net Income Tax Payments During the Year 2,196 1,256
Closing Balance 3,035 1,509

  1. RESERVES

Asset Revaluation Reserve

Balance at Beginning of the Year 39,889 39,889
Net Revaluations 976 -
Balance at End of the Year 40,865 39,889



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🏭 Alpine Energy Limited Financial Statements (continued from previous page)

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Electricity, Financial Performance, Taxation, Reserves, Alpine Energy Limited