New Zealand Gazette – 2003 – No. 95

Page 2511

✨ Financial statements notes



8 AUGUST

NEW ZEALAND GAZETTE

2511

Notes to the financial statements (continued)

For the year ended 31 March 2003

| | 2003
| $'000 | 2002
| $'000 |
|----------------|------------------|------------------|
| 5) Taxation | | |
| Profit before taxation | 4,285 | 4,168 |
| Prima facie taxation at 33 % | 1,414 | 1,375 |
| Add (subtract) tax effect of permanent differences | 136 | -432 |
| Income tax expense | 1,551 | 1,807 |

Income Tax expense is made up of

| | 2003
| $'000 | 2002
| $'000 |
|----------------|------------------|------------------|
| Current Taxation | 935 | 1,805 |
| Deferred Taxation | 616 | 2 |
| | 1,551 | 1,807 |

6) Deferred Taxation

| | 2003
| $'000 | 2002
| $'000 |
|----------------|------------------|------------------|
| Balance at beginning of year | 153 | 155 |
| Recognised in the statement of financial performance | (616) | (2) |
| Balance at end of year | (463) | 153 |

7) Imputation credits

| | 2003
| $'000 | 2002
| $'000 |
|----------------|------------------|------------------|
| Balance at beginning of year | 5,030 | 3,433 |
| Taxation paid | 1,002 | 1,597 |
| Imputation credits attached to dividends paid | (123) | - |
| Balance at end of year | 5,909 | 5,030 |

8) Paid in share capital

| | 2003
| $'000 | 2002
| $'000 |
|----------------|------------------|------------------|
| Balance at beginning of year | 5,573 | 12,539 |
| Shares repurchased | - | (6,966) |
| | 5,573 | 5,573 |

9) Asset revaluation reserve

| | 2003
| $'000 | 2002
| $'000 |
|----------------|------------------|------------------|
| Balance at beginning of year | 18,273 | 174 |
| Revaluation current year | | |
| Land and Buildings | - | (17) |
| Network Assets | - | 18,116 |
| | 18,273 | 18,273 |



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VUW Te Waharoa — PDF NZ Gazette 2003, No 95


Gazette.govt.nz — PDF NZ Gazette 2003, No 95




✨ LLM interpretation of page content

🏭 Notes to the financial statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial statements, Taxation, Deferred taxation, Imputation credits, Share capital, Asset revaluation