✨ Financial Statements
2582
NEW ZEALAND GAZETTE
No. 99
BULLER ELECTRICITY LIMITED ■ LINE BUSINESS
2 TAXATION
Net Surplus before Taxation 1,421,903 212,061
Prima Facie Taxation at 33% 469,228 69,980
Plus tax loss not previously applied (7,587)
Plus Tax effect of permanent differences (14,373) 151,579
Less Tax effect of timing differences not Recognised (34,823) (240,236)
Less Prior Year Adjustment (16,240) (4,317)
Total Taxation Expense (Benefit) 396,205 (22,994)
The Taxation charge comprises:
- current taxation 396,205 131,099
- deferred taxation 0 (154,093)
396,205 (22,994)
A deferred tax liability of $1,446,976 has not been recognised. This liability primarily relates to asset revaluations of the reticulation assets which would only crystallise on disposal.
3 RESERVES
Share Premium Reserve 255,795 255,795
Revaluation Reserve Land and Buildings 51,093 132,351
Revaluation Distribution System 8,742,387 8,859,511
Revaluation other Assets 34,050 34,050
9,083,325 9,281,707
4 FIXED ASSETS
System Fixed Assets
At Valuation 13,219,371 13,956,966
Accumulated Depreciation 0 (1,112,127)
Net Book Value at Valuation 31/3/01 13,219,371 12,844,839
Land
At Valuation 31/03/01 0 22,579
Buildings
At Valuation 27,500 183,247
Accumulated Depreciation 0 (10,736)
Net Book Value at Valuation 31/3/01 27,500 172,511
Customer Billing and IS
Cost 116,112 107,348
Accumulated Depreciation (98,336) (78,848)
Net Book Value 17,776 28,500
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 99
Gazette.govt.nz —
NZ Gazette 2001, No 99
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