New Zealand Gazette – 2000 – No. 129

Page 3254

✨ Financial Statements



3254 NEW ZEALAND GAZETTE No. 129

BULLER ELECTRICITY LIMITED ■ LINE BUSINESS

2 TAXATION

Net Surplus before Taxation 212,061 776,865
Prima Facie Taxation at 33% 69,980 256,365
Plus Tax effect of permanent differences 151,579 0
Less Tax effect of timing differences not Recognised (240,236) 0
Less Prior Year Adjustment (4,317) 0
Total Taxation Expense (Benefit) (22,994) 256,365

The Taxation charge comprises:

  • current taxation 131,099 209,589
  • deferred taxation (154,093) 46,776
    (22,994) 256,365

A deferred tax liability of $1,272,257 has not been recognised. This liability primarily relates to asset revaluations of the reticulation assets which would only crystallise on disposal.

3 RESERVES

Share Premium Reserve 255,795 255,795
Revaluation Reserve Land and Buildings 132,351 189,351
Revaluation Distribution System 8,859,511 8,859,603
Revaluation other Assets 34,050 34,050
9,281,707 9,338,799

4 FIXED ASSETS

System Fixed Assets
Cost/Valuation 13,956,966 13,838,845
Accumulated Depreciation (1,112,127) (635,334)
Net Book Value 12,844,839 13,203,511

Land
Cost/Valuation 22,579 8,222

Buildings
Cost/Valuation 183,247 183,247
Accumulated Depreciation (10,736) (7,071)
Net Book Value 172,511 176,176

Customer Billing and IS
Cost 107,348 109,988
Accumulated Depreciation (78,848) (59,415)
Net Book Value 28,500 50,573



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 129


Gazette.govt.nz — PDF NZ Gazette 2000, No 129




✨ LLM interpretation of page content

🏭 Notes to and forming part of the Financial Statements for Buller Electricity Limited (continued from previous page)

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