New Zealand Gazette – 2007 – No. 129

Page 3335

✨ Financial Statements



27 NOVEMBER 2007

NEW ZEALAND GAZETTE, No. 129

3335

2. Surplus Before Taxation

Distribution Retail
2007 2006 2007 2006
$ $ $ $

After charging:

  • Audit fees | 7,239 | 8,327 | 27,513 | 23,028 |
  • Audit fees other services | 3,756 | 1,256 | 14,276 | 3,473 |
  • Interest from short term deposits | (78,419) | (34,675) | - | - |

Depreciation:

  • Distribution network | 739,310 | 733,674| - | - |

  • Leasehold improvements | 24,855 | 23,424 | 2,260 | 2,250 |

  • Vehicles | 28,331 | 25,888 | 1,434 | 2,597 |

  • Office equipment | 4,449 | 5,109 | 1,672 | 1,932 |

  • Furniture & fittings | 5,242 | 4,727 | 4,540 | 3,928 |

  • Plant & equipment | 26,311 | 24,141 | - | 135 |

  • Computer h/ware & s/ware| - | - | 101,299| 120,093|
    | 71,893 | 114,032| | |

                       | 903,401     | 930,995| 111,175| 130,935|

  • Directors' fees | 51,186 | 39,084 | 46,067 | 35,157 |

  • Interest: fixed loans | 250,353 | 370,799| 52,778 | 144,149|

  • Rental & operating lease costs | 67,188 | 68,010 | 29,002 | 28,839 |

  • Movements in provision for doubtful debts | - | - | (2,610)| - |

  • Bad debts written off | - | - | 50,153 | 71,540 |

After crediting:

  • Interest from short term deposits | - | - | 110,777| 49,706 |
  • Profit on sales of assets | 2,458 | 2,217 | 410 | 461 |
  • Dividends received | 386 | 302 | 239 | - |

3. Taxation Expense

Distribution Retail
2007 2006 2007 2006
$ $ $ $

Net profit before taxation | - | 1,210,599 | - | 2,169,415 |

Prima facie taxation | (0) | 399,498 | 0 | 715,907 |

Plus (Less):

  • Non deductible items | 3,934 | 11,815 | 924 | 70 |
  • Non taxable income | - | - | - | - |
  • Unrecognised timing differences | - | 15,684 | - | 1,004 |
  • Tax rate impact | - | - | - | - |

Taxation expense for the period | (3,934) | 426,977| (927) | 716,981|

The taxation charge is represented by:

Current taxation | (3,934) | 426,977| (927) | 716,981|

The Company has unrecognised deferred tax liability for Distribution of $1,930,439 and an unrecognised deferred tax asset for Retail of $56,737.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2007, No 129


Gazette.govt.nz — PDF NZ Gazette 2007, No 129




✨ LLM interpretation of page content

🏭 Wanganui Gas Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial statements, revenue, expenses, taxation, depreciation, interest, audit fees, directors' fees, bad debts, profit on sales of assets, dividends received, taxation expense, deferred tax liability, deferred tax asset