✨ Financial Statements
Notes to and Forming Part of the Financial Statements
For the year ended 31 March 2007
ELECTRICITY DIVISION
7. TRADE & OTHER RECEIVABLES
| 31 March 2007 | 30 June 2006 | |
|---|---|---|
| NZ$000 | NZ$000 | |
| Trade receivables | 873 | 954 |
| Provision for doubtful debts | (152) | (136) |
| Unbilled sales | 17,980 | 19,142 |
| Other | 849 | 2,164 |
| 18,650 | 22,124 |
8. TAXATION
| Income tax recognised in the Income Statement |
|---|
Tax expense / (benefit) comprises:
| | Year to | 9 months to | Year to |
| | 31 March 2007 | 31 March 2007 | 30 June 2006 |
| | NZ$000 | NZ$000 | NZ$000 |
| Current tax expense / (benefit) | 3,685 | (1,906) | 4,967 |
| Deferred tax on temporary differences | 12,033 | 12,956 | 13,903 |
| | 15,698 | 11,050 | 18,870 |
The total charge for the period can be reconciled to the accounting profit as follows:
| | Year to | 9 months to | Year to |
| | 31 March 2007 | 31 March 2007 | 30 June 2006 |
| | NZ$000 | NZ$000 | NZ$000 |
| Operating surplus before taxation | 61,582 | 43,568 | 61,392 |
| Prima facie taxation @ 33% | 20,326 | 14,377 | 20,259 |
| Tax effect of expenses/(revenue) that are not deductible in determining taxable profit | (4,628) | (3,327) | (1,389) |
| Taxation expense / (benefit) | 15,698 | 11,050 | 18,870 |
All temporary differences have been recorded in the financial statements.
Income tax recognised directly in equity
| Deferred tax - revaluation of financial instruments treated as cash flow hedges | - | (303) | -
Deferred tax – temporary differences
| | Property, plant & equipment | Cash flow hedges | TOTAL |
| | NZ$000 | NZ$000 | NZ$000 |
| Balance 30 June 2005 | 16,749 | - | 16,749 |
| Charged / (credited) to the Income Statement | 13,903 | - | 13,903 |
| Charged to equity | - | - | - |
| | | | |
| Balance 30 June 2006 | 30,652 | - | 30,652 |
| Charged / (credited) to the Income Statement (9 months ending 31 March 2007) | 8,790 | 4,166 | 12,956 |
| Charged to equity (9 months ending 31 March 2007) | - | (303) | (303) |
| Balance 31 March 2007 | 39,442 | 3,863 | 43,305 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 46
Gazette.govt.nz —
NZ Gazette 2008, No 46
✨ LLM interpretation of page content
🏭
Other Intangibles Financial Statements
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Intangible Assets, Software, Amortisation, Valuation
🏭 Trade and Other Receivables Financial Statement
🏭 Trade, Customs & IndustryFinancial Statements, Trade Receivables, Doubtful Debts, Unbilled Sales
💰 Taxation Financial Statement
💰 Finance & RevenueFinancial Statements, Taxation, Income Tax, Deferred Tax, Tax Expense
💰 Deferred Tax Temporary Differences
💰 Finance & RevenueFinancial Statements, Deferred Tax, Temporary Differences, Property, Plant & Equipment, Cash Flow Hedges