✨ Financial Statements
TAXATION
Net Surplus before Taxation 4,799,545 3,295,571
Prima facie taxation at 33% 1,583,850 1,087,538
Plus Tax effect on permanent differences 997,068 954,974
Total Taxation Expense 2,580,918 2,042,512
The Taxation charge comprises:
Current Taxation 929,198 502,122
Deferred Taxation 1,641,720 1,540,390
2,580,918 2,042,512
Deferred Taxation Liability:
Opening Balance 11,740,217 10,199,827
Current Year Movement 1,689,017 1,540,390
Prior Year Adjustment 0 0
Closing Balance 13,391,937 11,740,217
CUSTOMER DEFERRED DISCOUNT AND DIVIDEND
Calculations for deferred discounts paid to each customer were based on their individual customer line charges for the 12 months ended 28 February 2006.
There has been no dividend declared during the year.
EQUITY
a) Shareholders' equity-
i) Share capital 29,949,300 29,932,100
ii) Retained earnings 9,867,125 7,648,498
iii) Reserves 47,479,654 47,479,654
iv) Total shareholders' equity 87,296,079 85,060,252
b) Minority interests in subsidiaries 0 0
c) Total equity 87,296,079 85,060,252
d) Capital notes 0 0
e) Total capital funds 87,296,079 85,060,252
There are 28,750,000 deferred shares held by the Ashburton District Council and these have the following conditions attached to them:
i) There is no right to distributions, dividends or rebates
ii) There is a right to vote if the rights attached to the deferred shares are to be altered or there is a proposal which would change the control of the Company or the rights of the Council are not carried forward on amalgamation
iii) The shares are not transferable except to another local authority or if 25% of the voting shares are controlled by one person.
iv) The right to an equal distribution with the holders of the rebate shares on a winding up of the Company
The Share capital of $29,949,300 is the total shareholding in Electricity Ashburton Ltd
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 143
Gazette.govt.nz —
NZ Gazette 2006, No 143
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Electricity Ashburton Limited Financial Statements
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🏭 Trade, Customs & IndustryFinancial statements, Taxation, Shareholders' equity, Deferred shares, Electricity, Ashburton