New Zealand Gazette – 2003 – No. 125

Page 3356

✨ Financial Statements



CENTRALINES LIMITED - LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 MARCH 2003

2003
$'000
2002
$'000

Note 1:

(i) OPERATING REVENUE

Continuing activities

  • Network line rentals net of customer rebates | 6,762 | 6,925
  • AC loss-rental rebates | 1,231 | 361
  • Customer contributions | 0 | 32
  • Interest income | 257 | 348

Total revenue | 8,250 | 7,666

(ii) OPERATING EXPENSES

Continuing activities

  • Audit fees | 29 | 28
  • Auditors fees for other services | 7 | 16
  • Fees paid to other auditors | 6 | 23
  • Bad debts written off | 0 | 0
  • Bad debts recovered | 0 | 0
  • Depreciation:
    • Buildings | 0 | 0
    • Office and computer equipment | 0 | 0
    • Distribution system | 1,013 | 598
    • Motor vehicles | 3 | 2
    • Plant, equipment and tools | 0 | 0

Total depreciation | 1,016 | 600

  • Directors' fees | 85 | 68
  • Donations | 0 | 1
  • Charge in provision for doubtful debts | 0 | 0
  • Interest paid | 2 | 27
  • Lease payments | 21 | 25
  • Loss on sale of assets | 0 | 4
  • Loss on sale of investments | 0 | 0
  • Customer Discount | 1,430 | 3,067
  • Cost of sales & other operating expenses | 3,612 | 3,510

Total operating expenses | 6,208 | 7,369

Surplus Before Income Tax | 2,042 | 297

The 2002 customer discount has been split out for comparative purposes.

Note 2: Taxation

Taxation Reconciliation

  • Accounting net operating surplus before taxation | 2,042 | 297
  • Taxation at 33% | 674 | 98
  • Plus tax effect of:
    • Non deductible expenditure | 0 | 0
    • Timing differences not recognised | (200) | (122)
    • Permanent differences | 250 | 202
    • Prior year adjustment | 2 | 1

Income tax charge for the year | 726 | 179

Income tax charge for the year comprises:

  • Current tax (liability) | 726 | 179
  • Deferred taxation | 0 | 0

The company has not recognised deferred taxation liabilities on cumulative timing differences of $2,989,000 (2002: $2,953,734) as these are not expected to reverse in the foreseeable future.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 125


Gazette.govt.nz — PDF NZ Gazette 2003, No 125




✨ LLM interpretation of page content

🏭 Centralines Limited Financial Statements Notes (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Operating Revenue, Operating Expenses, Taxation, Depreciation, Audit Fees, Directors' Fees, Customer Discounts