✨ Financial Statements
2918
NEW ZEALAND GAZETTE
No. 116
WEL ENERGY GROUP LIMITED
4 Taxation
Profit before taxation 25,517 23,890
Tax on profit at 33% 8,421 7,884
Tax effect of permanent differences 852 1,554
Total taxation expense 9,273 9,438
Represented by:
Deferred income tax liability 969 2,155
Current taxation provision 8,304 7,283
9,273 9,438Deferred income tax liability
Balance at the beginning of the year 5,082 2,927
Current year timing differences 969 2,155
Balance at the end of the year 6,051 5,082
The tax effect of timing differences arising from asset revaluation’s of the distribution system approximating $8,700,000, which would only crystallise on disposal, have not been recognised.
5 Shareholders Funds
Issued and Paid In Capital 131 131
All ordinary shares carry equal voting rights
Asset revaluation reserve 82,799 82,799
Retained earnings 22,152 19,902
Other Reserves 121,824 121,824
Minority interests - -
Total Equity 226,906 224,656
Asset Revaluation Reserve
Balance at the beginning of the year 82,799 82,799
Balance at the end of the year 82,799 82,799
Retained Earnings
Balance at the beginning of the year 19,902 11,523
Net surplus after tax 16,244 14,452
Dividends (13,994) (6,073)
Balance at the end of the year 22,152 19,902
Other Reserves
Balance at the beginning of the year 121,824 39,772
Allocation in compliance with Regulations
(refer Statement of Movements in Equity) - 82,052
Balance at the end of the year 121,824 121,824
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 116
Gazette.govt.nz —
NZ Gazette 2000, No 116
✨ LLM interpretation of page content
🏭
Wel Energy Group Limited Notes to the Financial Statements
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Taxation, Shareholders Funds, Profit, Tax Expense, Deferred Income Tax, Issued Capital, Asset Revaluation Reserve, Retained Earnings, Other Reserves, Dividends