New Zealand Gazette – 2005 – No. 129

Page 3133

✨ Financial Statements



TOP ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 2005

LINE BUSINESS $
2005 2004

3 NET FINANCE COSTS

Comprise:

  • Interest - term debt | 658,476 | 608,548 |
  • Interest - other | 6,416 | 21,880 |
  • Net finance costs | 664,892 | 630,428|

4 TAXATION

The taxation provision has been calculated as follows:

$ $
Profit for the period 3,790,623 4,654,511

Taxation for the period at 33%
| | 1,250,906 | 1,535,989 |

Plus/(Less) tax effect of:

  • Non taxable income | (355,490) | (191,561) |
  • Non deductible items | 994,226 | |
  • Unrecognised timing differences | | 5,130,397 |

Timing differences not previously recognised
| | 1,889,642 | 6,474,825 |

The taxation charge is represented by:

  • Taxation payable in respect of the current period | 1,454,041 | 1,925,824 |
  • Prior year under/(over)provision | | 20,176 |
  • Deferred tax | 435,601 | 4,549,000 |
    | | 1,889,642| 6,495,000|

DEFERRED TAX LIABILITY

$ $
Balance at beginning of year 4,549,000
Transfer to Statement of financial performance 435,601 4,549,000
Balance at end of year 4,984,601 4,549,000

5 DIVIDENDS

  • Ordinary dividend paid (.214 cents per share) | | 5,350,000 |
  • Ordinary dividend paid (.22 cents per share) | 5,500,000 | |

| Total dividends paid or provided | 5,500,000 | 5,350,000 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 129


Gazette.govt.nz — PDF NZ Gazette 2005, No 129




✨ LLM interpretation of page content

🏭 Notes to the Special Purpose Financial Statements for Top Energy Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial statements, Net finance costs, Taxation, Dividends, Top Energy Limited