New Zealand Gazette – 2003 – No. 163

Page 4551

✨ Financial Statements Notes



2.4 NOTES TO THE FINANCIAL STATEMENTS

6 months to 30 Jun 2003 12 months to 31 Dec 2002
($000) ($000)

5 Taxation

Current period taxation charge

Net profit/(loss) before taxation | (586) | 6,069

Taxation at 33% | (193) | 2,003
Tax on permanent differences at 33% | 1,355 | (217)
Taxation expense/(deficit) | 1,162 | 1,786

The taxation expense is represented by:

Provision for tax | 1,162 | 6,966
Deferred taxation | 14,378 | (5,180)
Adjustment to revaluation reserve | (14,378) | -
| 1,162 | 1,786

As at 30 Jun 2003 As at 31 Dec 2002
($000) ($000)

6 Accounts receivable

Trade receivables | 804 | 1,122
Prepayments | 71 | 1,433
Balance at end of period | 875 | 2,555

Recorded At FRS3 valuation Recorded At cost Accumulated depreciation Carrying value
($000) ($000) ($000) ($000)

7 Property, plant and equipment as at 30 June 2003

Freehold land | 350 | - | - | 350
Distribution systems | 214,200 | 2,544 | 1,290 | 215,454
Plant, vehicles and equipment | - | 1,075 | 501 | 574
Capital work in progress | - | 3,158 | - | 3,158
Total | 214,550 | 6,777 | 1,791 | 219,536

Property, plant and equipment as at 31 December 2002

Freehold land | - | 350 | - | 350
Distribution systems | - | 172,722 | 13,476 | 159,246
Plant, vehicles and equipment | - | 1,075 | 374 | 701
Capital work in progress | - | 3,173 | - | 3,173
Total | - | 177,320 | 13,850 | 163,470



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 163


Gazette.govt.nz — PDF NZ Gazette 2003, No 163




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Taxation, Accounts Receivable, Property Plant and Equipment