New Zealand Gazette – 2001 – No. 93

Page 2396

✨ Financial Statements



Alpine Energy Limited (Lines)

Financial Statements Prepared in Accordance with the Electricity (Information Disclosure) Regulations

Notes to and Forming Part of the Financial Statements - Continued

for the Year Ending 31 March 2001

g) Financial Instruments

Financial instruments carried in the Statement of Financial Position include cash and bank balances, receivables and trade creditors. These instruments are generally carried at their estimated fair value.

h) Goods and Services Tax (GST)

The financial statements have been prepared on a GST exclusive basis except for Accounts Receivable and Accounts Payable.

i) Changes in Accounting Policies

There have been no changes in accounting policies. All policies have been applied on bases consistent with those used in previous years.

2. Taxation

2001 2000
$'000 $'000
Income Tax Expense
Operating Surplus before Income Tax 9,754 6,828
Add/(Deduct):
Non Deductible Costs 0 23
Non Assessable Income (519) (570)
Timing Differences 1,123 696
Taxable Income 10,358 6,977
Taxation Charge @ 33% 3,418 2,302
Prior Year Over (Under) Provisions 172 (201)
Income Tax Expense 3,590 2,101

The income tax expense is represented by:

2001 2000
Current Taxation 3,960 2,331
Deferred Taxation (370) (230)
3,590 2,101

Deferred Income Tax Liability (Asset)

2001 2000
Balance at Beginning of Year (86) 144
Current Year Timing Differences (370) (230)
Adjustment on Disposal of Business (249) 0
Balance at End of Year (706) (86)

Taxation Liability

2001 2000
Income Tax Expense 3,590 2,101
Add/(Deduct):
Deferred Tax 370 230
Income Tax Paid (4,169) (2,159)
Income Tax Liability at Beginning of Year 172 0
Provision for Tax (37) 172


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 93


Gazette.govt.nz — PDF NZ Gazette 2001, No 93




✨ LLM interpretation of page content

🏭 Alpine Energy Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Revenue, Expenditure, Electricity, Accounting Policies