New Zealand Gazette – 2002 – No. 133

Page 3581

✨ Financial Statements



SCANPOWER LIMITED - LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEARS ENDED 31 MARCH

2002 2001
$'000 $'000

Note 1:

(i) OPERATING REVENUE

  • Network line rentals | 4887 | 4805 |
  • AC loss-rental rebates | 289 | 218 |
  • Interest income | 89 | 117 |
  • Total revenue | 5,265 | 5,140 |

(ii) OPERATING EXPENSES

  • Audit fees | 27 | 32 |

  • Auditors fees for other services | 7 | 4 |

  • Fees paid to other auditors | 11 | 0 |

  • Bad debts written off | 0 | 0 |

  • Depreciation: |

    • Distribution assets: | | |
      • Circuit breakers | 10 | 10 |
      • Substations | 3 | 4 |
      • Transformers | 11 | 17 |
      • Ripple controls | 27 | 15 |
      • UHF links | 2 | 1 |
      • Overhead lines | 142 | 195 |
      • Underground lines | 18 | 17 |
      • Community lighting | 1 | 1 |
      • Freehold buildings & fixtures | 1 | 3 |
      • Motor vehicles | 9 | 7 |
      • Plant and equipment | 39 | 39 |
      • Computer equipment | 3 | 4 |

  • Total Depreciation | 266| 313|

  • Directors remuneration & expenses | 74 | 72 |

  • Change in provision for doubtful debts | 0 | 0 |

  • Interest paid | 1 | 6 |

  • Loss on sale of assets | 0 | 7 |

  • Network discounts | 1600 | 1632 |

  • Cost of sales & operating expenses | 2947 | 2732 |

Total Operating Expenses | 4,933 | 4,798 |

A re-assessment of useful economic lives of network assets has resulted in a $60 thousand reduction in the depreciation charge for the year.

Note 2: Taxation
Taxation Reconciliation
Accounting net operating surplus before taxation | 332 | 342 |

  • Taxation at 33% | 110 | 113 |
  • Plus tax effect of: | |
    • Permanent differences | 4 | 8 |
    • Prior year adjustment | 0 | 3 |
    • Deferred tax adjustment | 122 | 0 |

Tax expense / (Benefit) | 236 | 124 |

Income tax charge for the year comprises:

  • Current taxation (liability) | 147 | (4) |
  • Deferred taxation | 89 | 128 |

Total Tax Expense | 236 | 124 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 133


Gazette.govt.nz — PDF NZ Gazette 2002, No 133




✨ LLM interpretation of page content

🏭 Scanpower Limited Financial Statements for the Lines Business (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Operating Revenue, Operating Expenses, Depreciation, Taxation, Network Line Rentals, Audit Fees, Asset Sales, Tax Reconciliation