New Zealand Gazette – 2008 – No. 11

Page 288

✨ Financial Statements Notes



288

NEW ZEALAND GAZETTE, No. 11

28 JANUARY 2008

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2007

Line Business 2007 2006
000's 000's
  1. Operating Revenue

  • Line Charges | 34,666 | 30,527 |

  • Loss Rental Rebate | 1,104 | 1,255 |

  • Line Contributions | 4,043 | 3,821 |

  • Interest Received | 15 | 106 |

  • Sundry Income | 144 | 52 |

                      | $39,974 | $35,761 |
  1. Operating Surplus Before Tax After Charging:

  • Bad Debts Written Off | 6 | — |

  • Depreciation - System Assets | 3,672 | 3,566 |

    • Centralised Load Equipment | 98 | 96 |
    • Computer Equipment | 50 | 120 |
    • Plant and Equipment | 67 | 119 |
    • Motor Vehicles | 31 | 27 |
    • Buildings | 56 | 67 |

  • Directors' Fees | 107 | 97 |

  • Interest | — | — |

  • Rental and Operating Lease Costs | — | — |

  • Research and Development | 24 | 8 |

  • Donations | — | — |

  • (Gain) Loss on Sale of Assets | (8) | (3) |

  1. Auditors' Remuneration
  • Auditing Financial Statements | 27 | 26 |
  • Auditing Disclosure Regulations | 9 | 10 |
  1. Taxation

  • Operating Surplus Before Taxation | 12,080 | 11,242 |

  • Prima Facie Taxation @ 33% | 3,986 | 3,710 |

  • Plus Tax Effect of Permanent Differences | -

  • Permanent Differences | (1,334) | (1,261) |

  • Timing differences not recognised | — | — |

  • Prior Period Adjustment | — | — |

  • Deferred Tax Adjustment | — | — |

Tax on Profits for Year | $2,652 | $2,449 |

The Taxation Charge is Represented by:

  • Current Taxation | 2,652 | 2,449 |

  • Deferred Taxation | — | — |

                              | $2,652  | $2,449  |

A deferred tax liability of $15,615,000 (2006: $15,760,000) has not been recognised

Imputation Credit Account:

  • Opening Balance | 8,979 | 8,805 |

  • Imputation Credits Attached to Dividends Paid | (2,046) | (2,017) |

  • Income Tax Payments During Year | 2,652 | 2,082 |

                              | $9,476  | $8,870  |


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2008, No 11


Gazette.govt.nz — PDF NZ Gazette 2008, No 11




✨ LLM interpretation of page content

💰 Notes to Financial Statements for the Year Ended 31 March 2007

💰 Finance & Revenue
Financial statements, Operating revenue, Operating surplus, Taxation, Auditors' remuneration, Deferred tax liability, Imputation credit account