New Zealand Gazette – 2000 – No. 97

Page 2424

✨ Financial Statements



2424
NEW ZEALAND GAZETTE
No. 97

HORIZON ENERGY DISTRIBUTION LIMITED
Financial Statements for the purposes of the Electricity (Information Disclosure) Regulations 1999 and the Electricity (Information Disclosure) Amendment Regulations 2000

NOTES TO THE FINANCIAL STATEMENTS

3 INTEREST
Net Interest comprises:

Lines Business 2000 $000 Lines Business 1999 $000
Interest Expense on Borrowings 3,525
Interest Income on Cash, Bank Balances and Short Term Investments (51)
Net Interest 3,474
Total Interest Expense 3,525

4 INCOME TAX

Income Tax Expense
The taxation expense has been calculated as follows:

Operating Surplus before Taxation 5,902 5,772
Income Tax on Surplus for the year at 33% 1,948 1,905
Plus/(Less) Permanent Differences
Non-Deductible Depreciation on revalued portion of fixed assets 462 237
Non-Deductible Expenses 30 37
Non-Taxable Income (136) (294)
Income Tax Expense 2,304 1,885

Income Tax Expense comprises:

Tax Payable in respect of current year 2,095 1,479
Deferred Taxation 209 406
Income Tax Expense 2,304 1,885

Deferred Taxation

Opening Balance 1,004 598
Deferred tax in respect of current year 209 406
Balance as at 31 March 1,213 1,004

Taxation Payable
Income Tax Payable (Prepaid) comprises:

Opening Balance (430) 91
Tax Payable in respect of current year 2,095 1,479
Income Tax Paid (1,224) (2,000)
Balance as at 31 March (Asset) 441 (430)


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 97


Gazette.govt.nz — PDF NZ Gazette 2000, No 97




✨ LLM interpretation of page content

🏭 Financial Statements for Horizon Energy Distribution Limited (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Financial Performance, Accounting Policies, Revenue, Depreciation, Fixed Assets, Inventories, Accounts Receivable, Taxation, Cash Flows, Financial Instruments