✨ Financial Statements Notes
TOP ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 2004
3 NET FINANCE COSTS
Comprise:
Interest - term debt
| LINE BUSINESS | $ |
|---|---|
| 2004 | |
| --------------- | -------- |
| 608,548 |
Interest - other
| 21,880 | 19,159 | |
|---|---|---|
| Net finance costs | ||
| 630,428 | 606,279 |
4 TAXATION
The taxation provision has been calculated as follows:
Profit for the period
| | 4,654,511 | 6,039,886 |
Taxation for the period at 33%
Plus/(less) tax effect of:
| | 1,535,989 | 1,993,162 |
| Non taxable income | (191,561) | (125,603) |
| Non deductible items | - | 1,320 |
| Unrecognised timing difference | - | (261,879)|
| Timing differences not previously recognised | 5,130,397 | - |
| | 6,474,824 | 1,607,000 |
The taxation charge is represented by:
| Taxation payable in respect of the current period | 1,925,824 | 1,607,000 |
| Prior year under/(over) provision | 20,176 | (135,000)|
| Deferred tax | 4,549,000 |
| | 6,495,000 | 1,472,000 |
The Company changed its accounting policy from the partial to comprehensive method during the year.
5 DIVIDENDS
Ordinary dividend paid (.214 cents per share)
| | 5,350,000 |
Ordinary dividend paid (1.83 cents per share)
| | - | 4,575,000 |
Total dividends paid or provided
| | 5,350,000 | 4,575,000 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2004, No 173
Gazette.govt.nz —
NZ Gazette 2004, No 173
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Notes to the Special Purpose Financial Statements for Top Energy Limited
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