New Zealand Gazette – 2005 – No. 17

Page 396

✨ Financial Statements

THE LINES COMPANY LIMITED - LINE BUSINESS ACTIVITY

NOTE 4 : TAXATION EXPENSE

| | 2004
$'000' | 2003
$'000' |
|------------------------|----------------|----------------|
| Nominal Profit Before Tax | 848 | 664 |
| Prima Facie Taxation @ 33% | 280 | 219 |
| Add/(Less) Effect of Permanent Tax Diff | — | (346) |
| Net Taxation Expense | 280 | (127) |
| Less Tax loss on Other | — | — |

NOTE 5 : FIXED ASSETS 2003

| | at cost
$ | at valuation
$ | accumulated depreciation
$ | carrying value
$ |
|--------------------------------|---------------|----------------|-------------------------------|-----------------|
| Land and Buildings | | 674,843 | — | 674,843 |
| Reticulation System | | 77,123,000 | — | 77,123,000 |
| Customer billing and Information system | 26,729 | — | 14,412 | 12,317 |
| Motor Vehicles | 676,591 | — | 518,363 | 158,228 |
| Office Equipment | 386,853 | — | 255,943 | 130,910 |
| Other Plant & Equipment | 381,883 | — | 374,052 | 7,831 |
| Other Capital Works | 157,805 | — | — | 157,805 |
| | 1,629,861 | 77,797,843 | 1,162,770 | 78,264,934 |

FIXED ASSETS 2004

| | at cost
$ | at valuation
$ | accumulated depreciation
$ | carrying value
$ |
|--------------------------------|---------------|----------------|-------------------------------|-----------------|
| Land and Buildings | — | 674,843 | — | 674,843 |
| Reticulation System | — | 96,400,111 | — | 96,400,111 |
| Customer billing and Information system | 26,729 | — | 19,758 | 6,971 |
| Motor Vehicles | 267,729 | — | 103,702 | 164,027 |
| Office Equipment | 410,122 | — | 333,969 | 76,153 |
| Other Plant & Equipment | 152,363 | — | 9,491 | 142,872 |
| Capital Work in Progress | 30,344 | — | — | 30,344 |
| | 887,287 | 97,074,954 | 466,920 | 97,495,321 |