New Zealand Gazette – 2005 – No. 122

Page 2949

✨ Financial Statements



10 AUGUST 2005
NEW ZEALAND GAZETTE, No. 122
2949

Buller Electricity Limited
Line Business Financial Statements

2005 $ 2004 $
2 INCOME TAX
Operating Surplus before Income Tax 462,581 1,182,004
Prima Facie Taxation at 33% 152,651 390,061
Plus tax losses offset (107,651) 0
Plus Tax effect of permanent differences (45,000) 0
Less Tax effect of timing differences not Recognised (36,000) (55,313)
Less Prior Year Adjustment 0 0
Total Income Tax Expense (Benefit) (36,000) 334,748
The income tax expense comprises:
- current taxation (36,000) 334,748
(36,000) 334,748

A deferred tax liability of $1,887,712 has not been recognised (2004 $1,732,712). This liability primarily relates to asset revaluations of the reticulation assets which would only crystallise on disposal.

3 RESERVES

2005 $ 2004 $
Share Premium Reserve 255,796 255,796
Revaluation Reserve Land and Buildings 93,454 93,454
Revaluation Distribution System 10,298,174 10,298,174
Revaluation other Assets 34,050 34,050
10,681,474 10,681,474

4 PROPERTY, PLANT & EQUIPMENT

Distribution System Assets

2005 $ 2004 $
ODV Valuation – end of previous year 18,653,438 13,592,610
System Fixed Assets acquired during the year 2,193,435 4,545,747
Less Disposal of Stock 0 0
Less Depreciation on System Fixed Assets (718,228) (365,360)
ODV Revaluation Movement 0 880,441
System Fixed Assets at ODV – end of financial year 20,128,645 18,653,438

Land and Buildings

2005 $ 2004 $
Net Book Value at Valuation 913,232 886,000
Accumulated Depreciation (15,328) 0
Net Book Value at end of year 897,904 886,000

Customer Billing and IS

2005 $ 2004 $
Cost 329,458 230,444
Accumulated Depreciation (279,427) (186,689)
Net Book Value at end of year 50,031 43,755

Office Equipment

2005 $ 2004 $
Cost 94,044 68,146
Accumulated Depreciation (52,162) (26,416)
Net Book Value 41,882 41,730


Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 122


Gazette.govt.nz — PDF NZ Gazette 2005, No 122




✨ LLM interpretation of page content

🏭 Buller Electricity Limited Line Business Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Buller Electricity Limited, Financial Statements, Income Tax, Reserves, Property, Plant & Equipment, Distribution System Assets, Land and Buildings, Customer Billing, Office Equipment