New Zealand Gazette – 2006 – No. 158

Page 4610

✨ Financial Statements Notes



Notes to the Financial Statements (continued)

For the year ended 31 March 2006

Note 2006 $\'000 2005 $\'000

3 Operating expenditure (continued)

(r) Costs of offering credit:

(i) Bad debts written off: | 66 | 18 |
(ii) Increase in estimated doubtful debts: | - | 18 |

(iii) Total cost of offering credit: | 66 | 36 |

(s) Local authority rates expense: | 125 | 107 |

(t) AC loss-rentals (distribution to retailers/customers) expense: | 1,290 | 661 |

(u) Rebates to consumers due to ownership interest: | - | - |

(v) Subvention payments: | - | - |

(w) Unusual expenses: | - | - |

(x) Other expenditure not listed in (a) to (w): | 217 | 158 |

Total operating expenditure | 15,408 | 14,542 |

4 Interest Expense

(a) Interest expense on borrowings: | 3,220 | 2,972 |

(b) Financing charges related to finance leases: | - | - |

(c) Other interest expense: | - | - |

(d) Total interest expense: | 3,220 | 2,972 |

5 Taxation

Surplus before tax: | 6,878 | 5,835 |

Prima facie taxation at 33%: | 2,270 | 1,925 |
Add/(subtract): tax effect of permanent differences: | (209) | 284 |

Income Tax expense: | 2,061 | 2,209 |

Income Tax expense is made up of:

Current taxation: | 1,061 | 1,268 |
Deferred taxation: | 1,000 | 941 |
| 2,061 | 2,209 |

6 Deferred Taxation

Balance at beginning of year: | (2,282) | (1,341) |
Recognised in the Statement of Financial Performance: | (1,000) | (941) |

Balance at end of year: | (3,282) | (2,282) |

7 Shareholders' Equity

Paid In Share Capital: | 5,573 | 5,573 |
Asset Revaluation Reserve: | 30,429 | 30,474 |
Other Equity: | 14,708 | 12,070 |
| 50,710 | 48,117 |

8 Asset Revaluation Reserve

Balance at beginning of year: | 30,474 | 18,465 |

Revaluation current year:

System Assets: | - | 11,992 |
Land & Buildings: | - | 12,009 |

Disposal of revalued assets:

System Assets: | 45 | - |

Balance at end of year: | 30,429 | 30,474 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 158


Gazette.govt.nz — PDF NZ Gazette 2006, No 158




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Eastland Network Limited (continued from previous page)

🏭 Trade, Customs & Industry
Operating Expenditure, Interest Expense, Taxation, Deferred Taxation, Shareholders' Equity, Asset Revaluation Reserve