✨ Financial Statements
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
| Lines Business 2001 $000 | Lines Business 2000 $000 |
|---|
INTEREST
Net Interest comprises:
- Interest Expense on Borrowings | 2,850 | 3,525 |
- Interest Income on Cash, Bank Balances and Short Term Investments | - | (51) |
Net Interest | 2,850 | 3,474 |
Total Interest Expense | 2,850 | 3,525 |
4 INCOME TAX
Income Tax Expense
The taxation expense has been calculated as follows:
| Lines Business 2001 $000 | Lines Business 2000 $000 | |
|---|---|---|
| - Operating Surplus before Taxation | 7,851 | 5,902 |
| - Income Tax on Surplus for the year at 33% | 2,591 | 1,948 |
| - Plus/(Less) Permanent Differences | ||
| - Non-Deductible Depreciation on revalued portion of fixed assets | 487 | 462 |
| - Non-Deductible Expenses | 21 | 30 |
| - Non-Taxable Income | (135) | (136) |
Income Tax Expense | 2,964 | 2,304 |
Income Tax Expense comprises:
- Tax Payable in respect of current year | 3,260 | 2,095 |
- Deferred Taxation | (296) | 209 |
Income Tax Expense | 2,964 | 2,304 |
Deferred Taxation
| - Opening Balance | 1,213 |
| - Deferred tax in respect of current year | (296) |
Balance as at 31 March | 917 | 1,213 |
Taxation Payable
Income Tax Payable (Prepaid) comprises:
| - Opening Balance | 441 |
| - Tax Payable in respect of current year | 3,260 |
| - Income Tax Paid | (2,697) |
Balance as at 31 March (Asset) | 1,004 | 441 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 87
Gazette.govt.nz —
NZ Gazette 2001, No 87
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Financial Statements for Horizon Energy Distribution Limited
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