New Zealand Gazette – 1999 – No. 92

Page 2179

✨ Financial Statements



9 AUGUST NEW ZEALAND GAZETTE 2179

WAIPA POWER LIMITED - LINE BUSINESS

CHANGES IN ACCOUNTING POLICIES

There have been no changes in accounting policies. All policies have been consistently applied during the year.

2 NET SURPLUS BEFORE TAXATION

After Charging:
Direct Expenditure 1,212,783 1,693,385
Audit fees for these financial statements 4,612 4,661
Audit fees for Companies financial statements 25,089 16,604
Directors' fees 108,750 41,130
Bad Debts - 11,373
Change in Provision for Doubtful Debts (10,406) -
Other Indirect expenditure 1,174,253 1,081,666
Depreciation 149,658 268,216
Net Gain on Disposal of Assets (9,178) -

After Crediting:
Interest Received 53,663 57,380

3 TAXATION

Net surplus before taxation 3,963,366 2,901,056
Prima facie taxation at 33% 1,307,911 957,348

Less Tax effect of permanent differences - -
Less Tax effect of timing differences not Recognised (345,978) (246,434)
Total Taxation Expense 961,933 710,914

The Taxation charge comprises:

  • current taxation 961,933 710,914
  • deferred taxation - -
    961,933 710,914

4 SHARE CAPITAL

Issued & Paid-up Share Capital
8,000,000 ordinary shares of $1 each 8,000,000 8,000,000



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✨ LLM interpretation of page content

🏭 Notes to Financial Statements for Waipa Power Limited (continued from previous page)

🏭 Trade, Customs & Industry
Accounting Policies, Net Surplus, Taxation, Share Capital, Financial Statements