✨ Financial Statements
1 DECEMBER
NEW ZEALAND GAZETTE
4171
2. Surplus Before Taxation
After Charging:
| Distribution 2000 $ | 1999 $ | Retail 2000 $ | 1999 $ | |
|---|---|---|---|---|
| Audit Fees | $ 8,750 | $ 8,300 | $ 8,750 | $ 8,300 |
| Audit Fees Other Services | $ 1,350 | $ 1,350 | $ 1,350 | $ 1,350 |
| Depreciation | $ 522,162 | $ 660,232 | $ 48,485 | $ 48,736 |
| Directors' Fees | $ 19,000 | $ 19,000 | $ 19,000 | $ 19,000 |
| Interest: Fixed Loans | $ 327,648 | $ 277,854 | $ 43,190 | $ 22,356 |
| Rental & Operating Lease Costs | $ 69,059 | $ 78,152 | $ 19,775 | $ 23,149 |
| Movements in provision for Doubtful Debts | $ - | $ - | $ 13,141 | $ 8,568 |
| Bad debts written off | $ - | $ - | $ 12,725 | $ 12,756 |
After Crediting:
| Distribution 2000 $ | 1999 $ | Retail 2000 $ | 1999 $ | |
|---|---|---|---|---|
| Interest From Short Term Deposits | $ 42,221 | $ 26,544 | $ 15,473 | $ 12,832 |
| Contract Settlement Fee | $ - | $ - | $ - | $ - |
| Profit On Sales Of Assets | -$ 32 | -$ 646 | -$ 17 | -$ 427 |
3. Taxation Expense
Net Profit Before Taxation $ 1,539,390 $ 1,187,769 $ 75,277 $ 160,569
Prima Facie Taxation $ 507,999 $ 391,964 $ 24,841 $ 52,988
Plus (Less):
| Distribution 2000 $ | 1999 $ | Retail 2000 $ | 1999 $ | |
|---|---|---|---|---|
| Non Deductible Items | -$ 224,093 | $ 354 | -$ 1,493 | $ 241 |
| Non Taxable Income | $ - | $ - | $ - | $ - |
| Unrecognised Timing Differences | $ 217,036 | $ 48,921 | $ 4,746 | $ 1,507 |
| Prior Period Adjustment | -$ 7,825 | $ 11,757 | -$ 171 | $ 362 |
TAXATION EXPENSE FOR THE PERIOD $ 493,117 $ 452,996 $ 27,923 $ 55,098
The Taxation Charge Is Represented By:
Current Taxation $ 493,117 $ 452,996 $ 27,923 $ 55,098
The Company has not recognised the deferred tax liability on timing differences which are not expected to reverse in the foreseeable future. The tax liability in respect of these timing differences at 33% is $1,213,516 (1999: $986,613) for Distribution and a future tax benefit to Retail of $39,594 (1999: $29,514), subsequent realisation of which is subject to the requirements of the Income Tax Act 1994.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 161
Gazette.govt.nz —
NZ Gazette 2000, No 161
✨ LLM interpretation of page content
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Notes to the Financial Statements for the Year ended 30 June 2000
(continued from previous page)
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