✨ Financial Statements Notes
NEW ZEALAND GAZETTE
18 AUGUST
2321
TOP ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 2000
3 NET FINANCE COSTS
Comprise:
| LINE BUSINESS | |
|---|---|
| 2000 | |
| ---------------- | ---------- |
| Interest - term debt | 704,266 |
| Interest - other | 2,387 |
| Gross finance costs | 706,653 |
| Less - interest on short term deposits | - |
| Less - interest from IRD | - |
| Net finance costs | 706,653 |
4 TAXATION
The taxation provision has been calculated as follows:
| 2000 | 1999 | |
|---|---|---|
| Profit for the period | 4,131,530 | 1,692,839 |
| Taxation for the period at 33% | 1,363,405 | 558,637 |
| Plus/(Less) effect of: | ||
| Non deductible items | 6,600 | 16,705 |
| Prior year adjustment | - | - |
| Losses utilised | (371,275) | - |
| Unrecognised timing differences | (414,730) | (288,195) |
| 584,000 | 287,147 |
The taxation charge is represented by:
| 2000 | 1999 | |
|---|---|---|
| Prior year adjustment | - | - |
| Taxation payable in respect of the current period | 584,000 | 287,147 |
| Deferred taxation | - | - |
| 584,000 | 287,147 |
The Company has not recognised a deferred tax liability of $2,637,435 (1999: $2,222,705) on timing differences of $7,992,228 (1999: $6,735,469), as these are not expected to reverse in the foreseeable future.
5 DIVIDENDS
| 2000 | 1999 | |
|---|---|---|
| Ordinary dividend paid (.0028 cents per share) | 70,000 | 45,000 |
| Ordinary dividend paid (.048 cents per share) | 1,200,000 | - |
| Total dividends paid or provided | 1,270,000 | 45,000 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 93
Gazette.govt.nz —
NZ Gazette 2000, No 93
✨ LLM interpretation of page content
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Notes to the Special Purpose Financial Statements of Top Energy Limited
(continued from previous page)
🏗️ Infrastructure & Public WorksFinancial Statements, Net Finance Costs, Taxation, Dividends, Top Energy Limited