New Zealand Gazette – 2005 – No. 101

Page 2409

✨ Financial Statements



1 JULY 2005
NEW ZEALAND GAZETTE, No. 101
2409

WAIPA NETWORKS LIMITED - LINES BUSINESS

2005 $ 2004 $
3 TAXATION
Net surplus before taxation 716,713 1,052,186
Prima facie taxation at 33% 236,515 347,221
Plus Tax effect of permanent differences 474,997 407,082
Less Tax effect of timing differences not Recognised (632,515) (514,470)
Total Taxation Expense 78,997 239,833
The Taxation charge comprises:
- current taxation 78,997 239,833
- deferred taxation - -
78,997 239,833

A deferred tax liability of $4,076,136 (2004 $3,714,025), 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 1,665,063 1,325,888
Dividends Allocated - -
Taxation paid (5,794) 339,175
Balance at end of year 1,659,269 1,665,063

4 SHARE CAPITAL

Balance at end of year | - | -

At 31 March 2005 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.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 101


Gazette.govt.nz — PDF NZ Gazette 2005, No 101




✨ LLM interpretation of page content

🏭 Notes to and forming part of the Financial Statements for Waipa Networks Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial statements, Taxation, Imputation credit, Share capital, Waipa Networks Limited