New Zealand Gazette – 2005 – No. 20

Page 454

✨ Financial Statements Notes



Alpine Energy Limited Lines Business

Notes to and Forming Part of the Financial Statements - Continued

for the Year Ending 31 March 2004

i) Changes in Accounting Policies

There have been no changes in accounting policies. All policies have been applied on bases consistent with those used in previous years.

2. Taxation

2004 2003
$ $

Income Tax Expense

Operating Surplus before Income Tax: Add/(Deduct):

  • Non Deductible Costs | 0 | 0 |
  • Non Assessable Income | (1,438,034)| (1,285,892)|
  • Timing Differences | 0 | 0 |
    Taxable Income | 10,981,848| 10,676,625|

Taxation Charge @ 33% | 3,624,010 | 3,523,286 |
Prior Year Over (Under) Provisions | 0 | 0 |
Income Tax Expense | 3,624,010 | 3,523,286 |

The income tax expense is represented by:

2004 2003
$ $
  • Current Taxation | 3,686,733 | 3,594,264 |
  • Deferred Taxation | (62,723) | (70,978) |
    Income Tax Expense | 3,624,010 | 3,523,286 |

Deferred Income Tax Liability (Asset)

2004 2003
$ $

Balance at Beginning of Year | (913,059) | (842,081) |
Current Year Timing Differences | (62,723) | (70,978) |
Adjustment on Disposal of Business| 0 | 0 |
Balance at End of Year | (975,782) | (913,059) |

Taxation Liability (Asset)

2004 2003
$ $

Income Tax Expense | 3,624,010 | 3,523,286 |
Add/(Deduct): | | |

  • Deferred Tax | 62,723 | 70,978 |
  • Income Tax Paid | (2,794,796)| (3,137,989)|
  • Income Tax Liability at Beginning | 27,002 | (429,273) |
    of Year |
    Provision for Tax | 918,939 | 27,002 |

3. Reserves

2004 2003
$ $

Asset Revaluation Reserve

Balance at Beginning of the Year | 40,928,000 | 40,928,000 |
Net Revaluations | (6,021,000)| 0 |
Transfer on Disposal of Property, |
Plant & Equipment | 0 | 0 |
Balance at End of the Year | 34,907,000 | 40,928,000 |

4. Contingent Liabilities

In respect of the business activities being reported on, the Company has no contingent liabilities as at 31 March 2004 (2003 nil).



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 20


Gazette.govt.nz — PDF NZ Gazette 2005, No 20




✨ LLM interpretation of page content

🏭 Alpine Energy Limited Accounting Policies (continued from previous page)

🏭 Trade, Customs & Industry
23 December 2004
Accounting Policies, Financial Statements, Electricity Information Disclosure, Alpine Energy

🏭 Alpine Energy Limited Taxation Notes

🏭 Trade, Customs & Industry
Taxation, Income Tax, Deferred Tax, Financial Statements, Alpine Energy

🏭 Alpine Energy Limited Reserves Notes

🏭 Trade, Customs & Industry
Reserves, Asset Revaluation, Financial Statements, Alpine Energy

🏭 Alpine Energy Limited Contingent Liabilities

🏭 Trade, Customs & Industry
Contingent Liabilities, Financial Statements, Alpine Energy