New Zealand Gazette – 2005 – No. 191

Page 4765

✨ Financial Statements



14 NOVEMBER 2005
NEW ZEALAND GAZETTE, No. 191
4765

  1. Surplus Before Taxation
After Charging: Distribution 2005 $ 2004 $ Retail 2005 $ 2004 $
Audit Fees $ 7,273 $ 13,219 $ 21,200 $ 15,910
Audit Fees Other Services $ 1,043 $ 1,421 $ 3,042 $ 1,711
Depreciation : Distribution Network $ 541,880 $ 553,173 $ - $ -
Leasehold Improvements $ 10,338 $ 6,755 $ 2,396 $ 2,393
Vehicles $ 21,144 $ 10,925 $ 5,540 $ 5,155
Office Equipment $ 5,910 $ 4,835 $ 3,148 $ 3,377
Furniture & Fittings $ 2,935 $ 2,455 $ 2,424 $ 1,798
Plant & Equipment $ 17,368 $ 14,817 $ 198 $ 204
Computer H/Ware & S/Ware $ 115,725 $ 102,766 $ 114,849 $ 63,475
$ 715,300 $ 695,726 $ 128,555 $ 76,402
Directors' Fees $ 35,000 $ 29,050 $ 31,500 $ 34,965
Interest: Fixed Loans $ 397,633 $ 297,057 $ 116,967 $ 46,897
Rental & Operating Lease Costs $ 68,014 $ 71,189 $ 28,985 $ 25,725
Movements in provision for Doubtful Debts $ - $ - $ 11,411 $ -
Bad debts written off $ - $ - $ 50,564 $ 40,872
After Crediting:
Interest From Short Term Deposits -$ 18,723 $ 4,020 $ 51,562 $ 28,493
Profit On Sales Of Assets $ 8,695 $ 3,431 $ 3,540 $ 1,959
Dividends Received $ 986 $ 182 $ - $ -
  1. Taxation Expense

| Net Profit Before Taxation | $ 1,334,934 | $ 1,490,958 | $ 658,510 | $ 1,449,800 |
| Prima Facie Taxation | $ 440,495 | $ 492,016 | $ 217,308 | $ 478,436 |
| Plus (Less): | | | | |
| Non Deductible Items | $ 23,858 | $ 70,758 | $ 310 | $ 225 |
| Non Taxable Income | $ - | $ - | $ - | $ - |
| Unrecognised Timing Differences | -$ 60,447 | -$ 67,993 | $ 4,059 | $ 716 |
| Prior Period Adjustment | $ - | $ - | $ - | $ - |
| TAXATION EXPENSE FOR THE PERIOD | $ 403,906 | $ 494,781 | $ 221,677 | $ 479,377 |
| The Taxation Charge Is Represented By: | | | | |
| Current Taxation | $ 403,906 | $ 494,781 | $ 221,677 | $ 479,377 |

The Company has not recognised the deferred tax liability on timing differences which are not
expected to reverse in the foreseeable future. The tax liability in respect of these
timing differences at 33% is $2,661,703 (2004: $2,325,516) for Distribution and a future tax benefit to
Retail of $147,883 (2004: $166,849), subsequent realisation of which is subject to the requirements of the Income Tax Act 1994.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 191


Gazette.govt.nz — PDF NZ Gazette 2005, No 191




✨ LLM interpretation of page content

💰 Notes to the Financial Statements (continued from previous page)

💰 Finance & Revenue
Financial statements, Accounting policies, Inventories, Investments, Property Plant and Equipment, Depreciation, Financial Instruments, Employee Entitlements, Income Tax, Finance Leases, Accounting Policies