New Zealand Gazette – 2001 – No. 129

Page 3310

✨ Financial Statements



SCANPOWER LIMITED - LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEARS ENDED 31 MARCH

2001 2000
$000 $000

Note 1:

(i) OPERATING REVENUE

  • Network line rentals | 4,805 | 4,747 |
  • AC loss-rental rebates | 218 | 158 |
  • Interest income | 117 | 103 |
  • Total revenue | 5,140 | 5,008 |

(ii) OPERATING EXPENSES

  • Audit fees | 32 | 27 |
  • Auditors fees for other services | 4 | 4 |
  • Fees to other auditors | 0 | 1 |
  • Bad debts written off | 0 | 0 |
  • Depreciation | 313 | 308 |
  • Directors remuneration & expenses | 72 | 72 |
  • Interest paid | 6 | 0 |
  • Loss/ (gain) on sale of assets | 7 | 4 |
  • Network holiday credits | 1,632 | 1,548 |
  • Cost of sales & operating expenses | 2,732 | 2,788 |
  • Total expenses | 4,798 | 4,752 |

Note 2: Taxation Reconciliation

  • Accounting net operating surplus before taxation | 342 | 256 |

  • Taxation at 33% | 113 | 85 |

  • Plus tax effect of:

    • Non deductible expenditure | 0 | 0 |
    • Permanent differences | 8 | 8 |
    • Prior year adjustment | 3 | 48 |

  • Income tax charge for the year | 124 | 141 |

Income tax charge for the year comprises:

  • Current taxation | (4) | 0 |
  • Deferred taxation | 128 | 141 |
  • | 124 | 141 |

Deferred Tax Asset / (Liability):

  • Opening balance | 191 | 253 |
  • Prior period adjustment | (17) | 237 |
  • Current year movement:
    • Tax losses | (26) | (11) |
  • Closing balance | 148 | 191 |

Imputation Credit Account:

  • Opening balance | 243 | 253 |
  • Tax paid during the year | 274 | 0 |
  • Credits attached to dividends paid | (22) | (10) |
  • Closing balance | 495 | 243 |

Note 3: Retained Earnings & Reserves

  • Retained Earnings
    • Balance at beginning of the year | (2,795) | 223 |
    • Net surplus for the year | 218 | 115 |
    • Adjustment to equity | 0 | (3,723)|
    • Transfer from revaluation reserves | 0 | 450 |
    • Share premium reserve account closed | 0 | 185 |
    • Dividends paid and proposed | (40) | (45) |
    • Balance at end of the year | (2,617) | (2,795)|


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 129


Gazette.govt.nz — PDF NZ Gazette 2001, No 129




✨ LLM interpretation of page content

🏭 Scanpower Limited Financial Statements for Lines Business (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Operating Revenue, Operating Expenses, Taxation Reconciliation, Retained Earnings, Scanpower Limited