✨ Financial Statements
Network Tasman Limited
Line Business Financial Statements
Notes to and forming part of the financial statements
For the year ended 31 March 2005
| | 2005
$000 | 2004
$000 |
|----------------|----------------|
| | |
4. Income tax
Operating surplus before income tax | 8,066 | 8,936
Permanent differences:
Non-taxable customer contributions | (3,291) | (2,078)
Depreciation | 1,756 | 887
Other permanent differences | 6 | 76
| (1,529) | (1,115)
Taxable income | 6,537 | 7,821
Tax expense @ 33% | 2,157 | 2,581
Income tax (over) under provided in prior year | 0 | 0
Income tax expense recognised in statement of financial performance | 2,157 | 2,581
Comprising:
Current period tax assessment | 2,162 | 2,543
Deferred income tax liability | (5) | 38
| 2,157 | 2,581
5. Dividends
Dividends during the year:
Dividends paid | 1,704 | 1,843
Total dividends paid | 1,704 | 1,843
6. Equity
Ordinary shares fully paid | 14,280 | 14,280
Property, plant & equipment revaluation reserve | 84,874 | 84,874
Share premium reserve | 1,938 | 1,938
Retained earnings | 33,883 | 30,169
| 7 |
Total equity | 134,975 | 131,261
7. Retained earnings
Retained earnings at beginning of year | 30,169 | 25,571
Operating surplus | 5,909 | 6,355
Total available for appropriation | 36,078 | 31,926
Dividends paid | (1,704)| (1,843)
Transfer of property, plant & equipment from/(to) "Other" business | (491) | 86
Retained earnings at end of year | 33,883 | 30,169
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 119
Gazette.govt.nz —
NZ Gazette 2005, No 119
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Network Tasman Limited Financial Statements
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