New Zealand Gazette – 2002 – No. 123

Page 3291

✨ Financial Statements



28 AUGUST NEW ZEALAND GAZETTE 3291

HAWKE'S BAY NETWORK LIMITED - LINES BUSINESS

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2002

3 INCOME TAX

a) Taxation

Operating Surplus Before Taxation 2002 2001
$000 $000
715 3,618
Prima Facie Tax @ 33% 236 1,194
Permanent differences (232) (340)
Timing Differences not recognised 177 110
Prior Period Adjustments (675) -
Current Taxation Expense (494) 964

Taxation Expense (Benefit) is represented by:

Current Taxation (494) 964
Deferred Tax - -
Taxation Payable (494) 964

b) Movement in Deferred Taxation Liability (Timing Differences)

The Company has not recognised deferred taxation liabilities on cumulative timing differences of $39,847,000 (2001:$35,207,000) as these are not expected to reverse in the foreseeable future. The tax effect of timing differences not recognised is $13,149,510 (2001:$11,618,310).

c) Taxation Payable

Opening Balance 960 -
Current year taxation expense (benefit) (494) 964
Taxation paid (900) (4)
Taxation Refunded Prior Periods 474 -
40 960

d) Imputation Credit Account

Opening Balance 2,502 2,498
Taxation Refund Received (474) -
Imputation Credits attached to Dividends Paid in the reporting period (63)
Taxation Paid 900 4
2,845 2,502



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 123


Gazette.govt.nz — PDF NZ Gazette 2002, No 123




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🏭 Hawke's Bay Network Limited Financial Statements (continued from previous page)

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