New Zealand Gazette – 2005 – No. 118

Page 2855

✨ Financial Statements

WESTPOWER LIMITED - LINES BUSINESS

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2005

| | 2005
$000's | 2004
$000's |
|----------------|-----------------|----------------|
| Note 1. Revenue | | |
| Line Charges | 12,263 | 11,762 |
| Special Discount on Line Charges | - | - |
| Interest | 53 | 46 |
| AC loss-rental rebates | 174 | 272 |
| Sundry Income | 1,239 | 526 |
| Total Revenue | 13,729 | 12,606 |

Note 2. Expenses

| | 2005 $
000's | 2004 $
000's |
|--------------------------------------|----------------|----------------|
| Audit fees for Companies financial statements | 40 | 34 |
| Other services provided by Auditors | - | - |
| Directors' Fees | 58 | 52 |
| Depreciation | 1,953 | 1,714 |
| Loan Interest | 257 | 251 |
| Bad debts written off | - | - |
| Increase (decrease) in estimated doubtful debts | - | (17) |
| Loss (Profit) on Sale of Fixed Assets | 552 | 201 |
| Write Down in Valuation of Buildings and Land | - | - |

Note 3. Taxation

| | 2005 $
000's | 2004 $
000's |
|--------------------------------------|----------------|----------------|
| Net Surplus before taxation | 4,195 | 3,649 |
| Prima facie taxation at 33% | 1,384 | 1,204 |
| Plus Tax effect of permanent differences | - | - |
| Imputation Credits | (6) | (3) |
| Taxation adjustment previous year | 105 | 130 |
| Tax effect of Permanent Differences and Timing differences not Recognised | (260) | (322) |
| Total Taxation Expense | 1,223 | 1,009 |

The Taxation charge comprises

current taxation | 1,118 | 879 |
prior period adjustments | 105 | 130 |
| Total | 1,223 | 1,009 |

The company has not recognised a deferred taxation liability of $7,749,000 (2004 $7,221,000)

VUW Te Waharoa — NZ Gazette 2005, No 118

Gazette.govt.nz — NZ Gazette 2005, No 118

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✨ LLM interpretation of page content

🏭 Westpower Limited Notes to Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsRevenue, Expenses, Taxation, Financial Statements, Westpower Limited, Electricity

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