New Zealand Gazette – 1999 – No. 146

Page 3496

✨ Financial Statements Notes



NEW ZEALAND GAZETTE

No. 146

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

For The Year Ended 31 March 1999

Line Business 1999 $ 1998 $
  1. Operating Revenue
Line Charges 23,811,668 22,518,994
Loss Rental Rebate 1,276,080 1,201,876
Line Contributions 1,438,789 1,622,713
Interest Received 481,830 -
Application Fees etc. 315,070 316,717
27,323,437 25,660,300
  1. Operating Surplus Before Tax

After Charging:

Bad Debts Written Off 30,545 36,600
Depreciation 2,595,224 3,674,132
Directors’ Fees 70,208 57,000
Interest 246 1,578
Rental and Operating Lease Costs 9,712 12,305
Research & Development - 3,272
Donations - -
  1. Auditors Remuneration
Auditing Financial Statements 15,875 19,900
Other Services 6,850 9,000
  1. Taxation
Profit Before Taxation 3,790,251 362,953
Prima Facia Taxation @ 33%: 1,250,782 119,774
Plus Tax Effect of Permanent Differences:
Permanent Differences 110,385 106,600
--- --- --- ---
Tax on Profits for Year 1,361,167 226,374
Prior Period Adjustment - (15,873)
1,361,167 210,501

The Taxation Charge is Represented by:-

Prior Period Adjustment - (15,873)
Current Taxation 34,173 96,747
Deferred Taxation 1,326,994 129,627
1,361,167 210,501

Movements in Provision for Deferred Taxation:

Opening Balance (1,927,725) (1,807,959)
Prior Period Adjustment (21,849) 9,861
Current Movement in Timing Differences (1,326,994) (129,627)
(3,276,568) (1,927,725)

Imputation Credit Account:

Opening Balance 3,106,192 3,377,238
Imputation credits attached to dividends paid - (996,429)
Income tax payments during year 138,777 725,388
3,244,969 3,106,192
  1. Fixed Assets
System Assets - At Cost 65,540,389 68,037,948
Less Accumulated Depreciation (32,004,082) (31,498,587)
33,536,307 36,539,361


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✨ LLM interpretation of page content

💰 Statement of Cash Flows for Northpower Ltd (continued from previous page)

💰 Finance & Revenue
Cash Flows, Operating Activities, Investing Activities, Financing Activities, Northpower Ltd