New Zealand Gazette – 1999 – No. 120

Page 2851

✨ Financial Notes to Accounts



14 SEPTEMBER NEW ZEALAND GAZETTE 2851

NOTES TO THE ACCOUNTS

Note 1 : Taxation

Net Profit Before Tax 9,801 9,515
Permanent Difference Due to Revaluation 2,418 2,439

                                                        12,219         11,954

Tax at 33 Cents in the Dollar 4,032 3,945
Under/(over) Provided Prior Year - -
Timing Differences Not Recognised - -

Income Tax Charge 4,032 3,945

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 $8.6 million ($13.1 million in 1998).

Note 2 : Current Assets

Accounts Receivable - Trade Debtors 8,328 82

  • Prepayment 9 1
    Internal Investment 1,599 4,128
    Bank - -
    Consumable Inventories - 87
                                       9,936          4,298

Note 3 : Current Liabilities

Accounts Payable 3,968 953
Taxation Payable 4,032 3,945
Dividend Payable 5,769 5,570
Internal Advance - -

                                                       13,769         10,468


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💰 Notes to the Accounts

💰 Finance & Revenue
Taxation, Current Assets, Current Liabilities, Financial Notes