✨ Financial Statements
NEW ZEALAND GAZETTE
No. 91
WAIPA NETWORKS LIMITED - LINES BUSINESS
| 2001 | 2000 | |
|---|---|---|
| $ | $ |
3 TAXATION
Net surplus before taxation | 3,452,819 | 3,374,695
Prima facie taxation at 33% | 1,139,430 | 1,113,649
Plus Tax effect of permanent differences | 367,576 | 370,610
Less Tax effect of timing differences not Recognised | (355,658) | (321,304)
Total Taxation Expense | 1,151,348 | 1,162,955
The Taxation charge comprises:
- current taxation | 1,151,348 | 1,162,955
- deferred taxation | - | -
| Total Taxation Expense | 1,151,348 | 1,162,955 |
A deferred tax liability of $3,064,972 (2000 $2,785,106), has not been recognised. This liability primarily relates to asset revaluations of the reticulation assets which would only crystallise on disposal.
Imputation credit memorandum account
Balance at the beginning of the year | 906,213 | 1,062,991
Dividends Allocated | (1,170,140) | (1,095,156)
Taxation paid | 1,197,677 | 938,378
Balance at end of year | 933,750 | 906,213
4 SHARE CAPITAL
Balance at beginning of year | - | 8,000,000
Shares Repurchased | - | (8,000,000)
Balance at end of year | - | -
At 31 March 2001 the line business has 6,800,000 issued shares. During the year the line business has repurchased and cancelled a total of 1,200,000 shares at a total cost of $8,705,826, $8,000,000 of this was paid in 2000.
All shares carry equal voting rights and share in any surplus on winding up of the company equally. None of the shares carry fixed dividend rights.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 91
Gazette.govt.nz —
NZ Gazette 2001, No 91
✨ LLM interpretation of page content
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Financial Position Statement for Waipa Networks Limited
(continued from previous page)
🏭 Trade, Customs & Industry6 August 2001
Financial Statements, Taxation, Imputation Credit, Share Capital, Waipa Networks Limited