New Zealand Gazette – 2006 – No. 154

Page 4453

✨ Financial Statements



Vector Limited & Subsidiaries

Gas Distribution Activities

Notes to the Financial Statements

For the year ended 30 June 2006

  1. SEGMENT INFORMATION

The gas distribution activities operate within the gas distribution sector. All operations are carried out within New Zealand.

  1. OPERATING EXPENDITURE
Note 2006 2005
$000 $000
Operating expenditure includes:
Bad debts written off - -
Increase/(decrease) in provision for doubtful debts 28 (5)
Rental and operating lease costs 735 507
Loss on disposal of property, plant and equipment - 25
Donations 2 1
Directors’ fees 73 36
Audit fees paid to principal auditors 46 38
Audit fees paid to other auditors 35 30
Depreciation 10,416 14,413
Amortisation of goodwill 10 -
16,296 11,486
  1. INCOME TAX
2006 2005
$000 $000
Operating deficit before income tax (12,418) (7,961)
Prima facie tax at 33% (4,098) (2,627)
Plus tax effect of permanent differences:
Prior period adjustment - 3,296
Other permanent differences 4,889 5,749
Income tax expense 791 6,418

The income tax expense is represented by:

2006 2005
$000 $000
Current tax (4,157) (3,601)
Deferred tax 4,948 10,019
791 6,418
  1. DEFERRED TAX LIABILITY
2006 2005
$000 $000
Balance at beginning of the year 50,100 19,795
Prior period adjustment (38) 2,272
On acquisition of NGC gas distribution business (2,048) 20,286
Increase on revaluation of assets 11,716 -
On net surplus for the year 4,948 7,747
Balance at end of the year 64,678 50,100


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 154


Gazette.govt.nz — PDF NZ Gazette 2006, No 154




✨ LLM interpretation of page content

💰 Vector Limited & Subsidiaries Gas Distribution Financial Position (continued from previous page)

💰 Finance & Revenue
Financial Statement, Segment Information, Operating Expenditure, Income Tax, Deferred Tax Liability, Gas Distribution, New Zealand