New Zealand Gazette – 2008 – No. 33

Page 757

✨ Financial Statements

WESTPOWER LIMITED - LINES BUSINESS

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2007

	2007	2006
	$000's	$000's

Note 1. Revenue

Line Charges | 14,004 | 12,643 |
Special Discount on Line Charges | (970) | (981) |
Interest | 328 | 43 |
AC loss-rental rebates | 289 | 321 |
Sundry Income | 9,982 | 2,104 |

Total Revenue | 23,633 | 14,130 |

Note 2. Expenses

Audit fees for Companies financial statements | 31 | 29 |
Other services provided by Auditors | 10 | 9 |
Directors' Fees | 62 | 51 |
Depreciation | 2,334 | 2,117 |
Loan Interest | 855 | 612 |
Loss on Sale of Fixed Assets | 301 | 323 |

Note 3. Taxation

Net Surplus before taxation | 11,751 | 4,197 |
Prima facie taxation at 33% | 3,878 | 1,385 |
Plus Tax effect of permanent differences
- Imputation Credits | (16) | (5) |
- Taxation adjustment previous year | (5) | 0 |
Tax effect of Permanent Differences and Timing differences not Recognised | (3,449) | (453) |

Total Taxation Expense | 408 | 927 |

The Taxation charge comprises

current taxation | 413 | 927 |
prior period adjustments | (5) | |

Total | 408 | 927 |

The company has not recognised a deferred taxation liability of $7,360,000 (2006 $8,700,000)

VUW Te Waharoa — NZ Gazette 2008, No 33

Gazette.govt.nz — NZ Gazette 2008, No 33

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✨ LLM interpretation of page content

🏭 Westpower Limited Financial Statements Notes (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Revenue, Expenses, Taxation, Westpower Limited

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