New Zealand Gazette – 2001 – No. 117

Page 3016

✨ Financial Statements Notes



3016

NEW ZEALAND GAZETTE

No. 117

WESTPOWER LIMITED - LINES BUSINESS

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2001

Note 1. Revenue

Line Charges * 11,157 10,842
Special Discount on Line Charges - (503)
Interest 80 75
AC loss-rental rebates 569 152
Sundry Income 284 518

                            12,090     11,084

Note 2. Expenses

Audit fees for Companies financial statements 30 27
Other services provided by Auditors 5 6
Directors' Fees 40 59
Depreciation 1,619 1,539
Loan Interest 911 1,103
Bad debts written off - -
Increase (decrease) in estimated doubtful debts - -
Loss (Profit) on Sale of Fixed Assets 37 803
Write Down in Valuation of Buildings and Land - 463

Note 3. Taxation

Net Surplus before taxation 3,329 1,255
Prima facie taxation at 33% 1,099 414
Plus Tax effect of permanent differences 499 657
Taxation adjustment previous year (1) 11
Timing differences not Recognised (569) (709)

Total Taxation Expense 1,028 373

The Taxation charge comprises

  • current taxation 1,028 373
  • deferred taxation - -
                                  1,028      373

Timing differences of the Company have not been recognised in the Statements of Financial Position because they are not likely to reverse within the foreseeable future. At 31 March 2001 such timing differences amount to $18,763,669 (2000 $17,002,945) deferred taxation assessed at the current corporate taxation rate of 33 cents in the dollar is a liability of $6,192,011 (2000 $5,610,972).



Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 117


Gazette.govt.nz — PDF NZ Gazette 2001, No 117




✨ LLM interpretation of page content

🏭 Westpower Limited Notes to Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Revenue, Expenses, Taxation, Depreciation