✨ Financial Statements
VECTOR LIMITED & SUBSIDIARIES
GAS DISTRIBUTION ACTIVITIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2008
4. DEFERRED TAX
| PROPERTY, PLANT AND EQUIPMENT | PROVISIONS AND ACCRUALS | TAX LOSSES | OTHER | TOTAL | |
|---|---|---|---|---|---|
| $000 | $000 | $000 | $000 | $000 | |
| 2008 | |||||
| Balance at the beginning of the year | (48,616) | 942 | 4,066 | 106 | (43,502) |
| Current year tax losses | - | - | 3,595 | - | 3,595 |
| Utilisation of prior year tax losses | - | - | (4,066) | - | (4,066) |
| Relating to current period | (3,257) | (337) | - | - | (3,594) |
| Prior period adjustment | 62 | - | - | 136 | 198 |
| Balance at the end of the year | (51,811) | 605 | 3,595 | 242 | (47,369) |
| Deferred tax assets | - | 605 | 3,595 | - | 4,200 |
| Deferred tax liabilities | (51,811) | - | - | 242 | (51,569) |
| Net deferred tax (liability) / asset | (51,811) | 605 | 3,595 | 242 | (47,369) |
| PROPERTY, PLANT AND EQUIPMENT | PROVISIONS AND ACCRUALS | TAX LOSSES | OTHER | TOTAL | |
|---|---|---|---|---|---|
| $000 | $000 | $000 | $000 | $000 | |
| 2007 | |||||
| Balance at the beginning of the year | (47,546) | 1,337 | 4,157 | 162 | (41,890) |
| Current year tax losses | - | - | 4,066 | - | 4,066 |
| Utilisation of prior year tax losses | - | - | (4,157) | - | (4,157) |
| Relating to current period | (1,070) | (395) | - | (63) | (1,528) |
| Prior period adjustment | - | - | - | 7 | 7 |
| Balance at the end of the year | (48,616) | 942 | 4,066 | 106 | (43,502) |
| Deferred tax assets | - | 942 | 4,066 | - | 5,114 |
| Deferred tax liabilities | (48,616) | - | - | - | (48,616) |
| Net deferred tax (liability) / asset | (48,616) | 942 | 4,066 | 106 | (43,502) |
5. RECEIVABLES AND PREPAYMENTS
| 2008 | 2007 | |
|---|---|---|
| $000 | $000 | |
| Current | ||
| Trade receivables | 8,939 | 7,855 |
| Provision for doubtful debts | (330) | (124) |
| 8,609 | 7,731 | |
| Prepayments | 620 | 459 |
| Interest receivables | 1,641 | 1,763 |
| Total | 10,870 | 9,953 |
| Non-current | ||
| Other receivables | - | 125 |
| Total | - | 125 |
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NZ Gazette 2008, No 185
✨ LLM interpretation of page content
🏭
Vector Limited & Subsidiaries Gas Distribution Activities Notes to the Financial Statements
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial statements, Operating surplus, Net finance costs, Income tax expense, Vector Limited, Gas distribution