New Zealand Gazette – 2004 – No. 154

Page 3807

✨ Financial Statements



26 NOVEMBER 2004
NEW ZEALAND GAZETTE, No. 154
3807

  1. Surplus Before Taxation
After Charging: Distribution 2004 $ 2003 $ Retail 2004 $ 2003 $
Audit Fees $ 13,219 $ 11,713 $ 15,910 $ 13,105
Audit Fees Other Services $ 1,421 $ 3,196 $ 1,711 $ -
Depreciation : Distribution Network $ 553,173 $ 543,197 $ - $ -
Leasehold Improvements $ 6,755 $ 14,147 $ 2,393 $ 8,963
Vehicles $ 10,925 $ 5,064 $ 5,155 $ 5,224
Office Equipment $ 4,835 $ 3,803 $ 3,377 $ 3,341
Furniture & Fittings $ 2,455 $ 2,251 $ 1,798 $ 1,106
Plant & Equipment $ 14,817 $ 13,192 $ 204 $ 200
Computer H/Ware & S/Ware $ 102,766 $ 34,932 $ 63,475 $ 24,338
$ 695,726 $ 616,586 $ 76,402 $ 43,172
Directors' Fees $ 29,050 $ 28,273 $ 34,965 $ 31,633
Interest: Fixed Loans $ 297,057 $ 338,387 $ 46,897 $ 14,568
Rental & Operating Lease Costs $ 71,189 $ 71,058 $ 25,725 $ 22,997
Movements in provision for Doubtful Debts $ - $ - $ - $ 8,827
Bad debts written off $ - $ - $ 40,872 $ 36,314
After Crediting:
Interest From Short Term Deposits $ 4,020 $ 58,613 $ 28,493 $ 2,052
Profit On Sales Of Assets $ 3,431 $ 8,661 $ 1,959 $ 2,698
  1. Taxation Expense
Net Profit Before Taxation $ 1,490,958 $ 1,471,353 $ 1,449,800 $ 529,246
Prima Facie Taxation $ 492,016 $ 485,546 $ 478,436 $ 174,651
Plus (Loss):
Non Deductible Items $ 70,758 $ 6,908 $ 225 $ 22
Non Taxable Income $ - $ - $ - $ -
Unrecognised Timing Differences -$ 67,993 -$ 47,929 $ 716 $ 3,717
Prior Period Adjustment $ - $ - $ - $ -
TAXATION EXPENSE FOR THE PERIOD $ 494,781 $ 444,525 $ 479,377 $ 178,390
The Taxation Charge Is Represented By:
Current Taxation $ 494,781 $ 444,525 $ 479,377 $ 178,390

The Company has not recognised the deferred tax liability on timing differences which are not expected to reverse in the foreseeable future. The tax liability in respect of these timing differences at 33% is $2,325,516 (2003: $1,734,669) for Distribution and a future tax benefit to Retail of $166,849 (2003: $32,558), subsequent realisation of which is subject to the requirements of the Income Tax Act 1994.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 154


Gazette.govt.nz — PDF NZ Gazette 2004, No 154




✨ LLM interpretation of page content

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

💰 Finance & Revenue
Accounting Policies, Financial Statements, Inventories, Investments, Depreciation, Financial Instruments, Employee Entitlements, Income Tax, Operating Leases, Finance Leases