New Zealand Gazette – 2003 – No. 79

Page 2100

✨ Financial Statements



NEW ZEALAND GAZETTE

No. 79

WAIPA NETWORKS LIMITED - LINES BUSINESS

2003 2002
$ $

3 TAXATION

Net surplus before taxation | 870,651 | 1,000,829

Prima facie taxation at 33% | 287,315 | 330,274

Plus Tax effect of permanent differences | 392,655 | 379,481

Less Tax effect of timing differences not Recognised | (447,844) | (393,556)

Total Taxation Expense | 232,126 | 316,199

The Taxation charge comprises:

  • current taxation | 232,126 | 316,199
  • deferred taxation | - | -

| | 232,126 | 316,199 |

A deferred tax liability of $3,373,039 (2002 $3,064,972), has not been recognised. This liability primarily relates to asset revaluations of the reticulation assets which would only crystallise on disposal.

Imputation credit memorandum account:
Balance at the beginning of the year | 1,217,240 | 933,750
Dividends Allocated | - | (113,153)
Taxation paid | 108,648 | 396,643
Balance at end of year | 1,325,888 | 1,217,240

4 SHARE CAPITAL

Balance at end of year | - | -

At 31 March 2003 the company has 6,800,000 fully paid issued shares. All shares carry equal voting rights and share in any surplus on winding up of the company equally. None of the shares carry fixed dividend rights.



Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 79


Gazette.govt.nz — PDF NZ Gazette 2003, No 79




✨ LLM interpretation of page content

🏗️ Notes to Financial Statements for Waipa Networks Limited (continued from previous page)

🏗️ Infrastructure & Public Works
Financial Instruments, Employee Entitlements, Accounting Policies, Net Surplus, Financial Statements, Waipa Networks Limited