New Zealand Gazette – 2005 – No. 7

Page 147

✨ Financial Statements Notes



17 JANUARY 2005 NEW ZEALAND GAZETTE, No. 7 147

Notes to the financial statements (continued)

For the year ended 31 March 2004 (continued)

5) Taxation

| | 2004
($'000) | 2003
($'000) |
|----------------|-------------|-------------|
| Profit before taxation | 5,919 | 4,285 |
| Prima facie taxation at 33 % | 1,953 | 1,414 |
| Add (subtract) tax effect of permanent differences | -337 | 137 |
| Income tax expense | 1,616 | 1,551 |

Income Tax expense is made up of

| | 2004
($'000) | 2003
($'000) |
|----------------|-------------|-------------|
| Current Taxation | 738 | 935 |
| Deferred Taxation | 878 | 616 |
| Total | 1,616 | 1,551 |

6) Deferred Taxation

| | 2004
($'000) | 2003
($'000) |
|------------------------------|-------------|-------------|
| Balance at beginning of year | (463) | 153 |
| Recognised in the statement of financial performance | (878) | (616) |
| Balance at end of year | (1,341) | (463) |

7) Shareholders Equity

2004 2003
Paid in share capital 5,573 5,573
Asset revaluation reserve 18,465 18,273
Other equity 12,919 9,861
Total 36,957 33,707

8) Asset revaluation reserve

2004 2003
Balance at beginning of year 18,273 18,273
Revaluation current year
Land and Buildings 192 -
Balance at end of year 18,465 18,273


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 7


Gazette.govt.nz — PDF NZ Gazette 2005, No 7




✨ LLM interpretation of page content

💰 Notes to the financial statements for the year ended 31 March 2004 (continued from previous page)

💰 Finance & Revenue
Financial statements, Taxation, Deferred taxation, Shareholders equity, Asset revaluation