New Zealand Gazette – 1999 – No. 17

Page 387

✨ Financial Statements



8 FEBRUARY NEW ZEALAND GAZETTE 387

NELSON ELECTRICITY LIMITED

Notes to the Financial Statements for the Year Ended 31 March 1998

(1) Fixed Assets

Distribution system 1998 Line Business $000 1998 Other Business $000 1997 Line Business $000 1997 Other Business $000 1996 Line Business $000 1996 Other Business $000 1995 $000
cost 10,622 0 10,610 0 10,592 0 10,496
accumulated depreciation 5,582 0 5,157 0 4,734 0 4,314
book value 5,040 0 5,453 0 5,858 0 6,182

Land
cost | 15 | 0 | 15 | 0 | 15 | 0 | 15 |

Buildings
cost | 144 | 0 | 144 | 0 | 144 | 0 | 144 |
accumulated depreciation | 59 | 0 | 56 | 0 | 53 | 0 | 50 |
book value | 85 | 0 | 88 | 0 | 91 | 0 | 94 |

TOTAL FIXED ASSETS | 5,140 | 0 | 5,556 | 0 | 5,964 | 0 | 6,291 |

(2) Taxation

Surplus before taxation | 1,387 | 165 | 1,340 | 163 | 1,461 | 18 | 1,218 |
Taxation at 33% | 458 | 54 | 442 | 54 | 482 | 6 | 402 |
Plus permanent difference tax effect | 18 | 0 | 18 | 0 | 20 | 0 | 18 |
Less prior year deferred tax adjustment | 0 | 0 | 3 | 0 | (21) | 0 | 0 |
Tax expense per Statement of Financial Performance | 476 | 54 | 463 | 54 | 481 | 6 | 420 |

Comprising:
Current taxation | 472 | 54 | 416 | 54 | 497 | 6 | 417 |
Deferred taxation | 4 | 0 | 47 | 0 | (16) | 0 | 3 |
| 476 | 54 | 463 | 54 | 481 | 6 | 420 |

(3) Deferred Taxation

Balance 1/4/97 | 83 | 0 | 37 | 0 | 53 | 0 | 3 |
Deferred tax prior period | 0 | 0 | 17 | 0 | (21) | 0 | 47 |
Deferred tax current period | 4 | 0 | 29 | 0 | 5 | 0 | 3 |
Balance 31/3/98 | 87 | 0 | 83 | 0 | 37 | 0 | 53 |



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🏭 Financial Position Statement for Nelson Electricity Limited (continued from previous page)

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