New Zealand Gazette – 2003 – No. 129

Page 3469

✨ Financial Statements



SCANPOWER LIMITED - LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2003

Note (i): Operating Revenue

| | 2003
$'000 | 2002
$'000 |
|-----------------------|-----------|-----------|
| Network line rentals | 5,000 | 4,887 |
| AC loss rental rebates| 108 | 289 |
| Interest income | 67 | 89 |
| Total Revenue | 5,175 | 5,265 |

Note 1(ii): Operating Expenses

| | 2003
$'000 | 2002
$'000 |
|----------------------------------|-----------|-----------|
| Audit Fees | 28 | 27 |
| Auditors fees for other services | 4 | 7 |
| Fees paid to other auditors | 0 | 11 |
| Bad debts written off | 0 | 0 |
| Depreciation: | | |
| Distribution Assets: | | |
| Circuit breakers | 11 | 10 |
| Substations | 3 | 3 |
| Transformers | 13 | 11 |
| Ripple controls | 27 | 27 |
| UHF links | 2 | 2 |
| Overhead lines | 142 | 142 |
| Underground lines | 21 | 18 |
| Community lighting | 1 | 1 |
| Freehold buildings and fixtures | 2 | 1 |
| Motor vehicles | 9 | 9 |
| Plant and equipment | 38 | 39 |
| Computer equipment | 2 | 3 |
| Total Depreciation | 271 | 266 |
| Directors remuneration and expenses | 73 | 74 |
| Change in provision for doubtful debts | 0 | 0 |
| Interest paid | 0 | 1 |
| Loss on sale of assets | 0 | 0 |
| Network discounts | 1,810 | 1,600 |
| Cost of sales and operating expenses | 2,707 | 2,947 |
| Total Operating Expenses | 4,893 | 4,933 |

Note 2: Taxation

Taxation Reconciliation

| | 2003
$'000 | 2002
$'000 |
|--------------------------------------|-----------|-----------|
| Accounting net operating surplus before taxation | 282 | 332 |
| Taxation at 33% | 93 | 110 |
| Plus tax effects of: | | |
| Permanent differences | 0 | 4 |
| Prior year adjustment | 0 | 0 |
| Deferred tax adjustment | 0 | 122 |
| Tax expense (benefit) | 93 | 236 |

LexisNexis



Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 129


Gazette.govt.nz — PDF NZ Gazette 2003, No 129




✨ LLM interpretation of page content

🏭 ScanPower Limited Financial Statements for 2003 (continued from previous page)

🏭 Trade, Customs & Industry
31 March 2003
Financial Statements, Operating Revenue, Operating Expenses, Taxation, Accounting Policies, ScanPower Limited