✨ Financial Statements
TOP ENERGY LIMITED-LINE BUSINESS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2007
| LINE BUSINESS | |
|---|---|
| $ | |
| 2007 |
3 NET FINANCE COSTS
Comprise:
Interest – term debt | 539,809 | 627,522 |
Interest – other | 198,609 | 174,595 |
Net finance costs | 738,418 | 802,118 |
4 TAXATION
The taxation provision has been calculated as follows:
Profit for the period | 6,145,571 | 4,660,129 |
Taxation for the period at 33%
Plus/(Less) tax effect of:
Non taxable income | (700,835) | (486,686) |
Non deductible items | 641,365 | 642,362 |
| 1,968,569 | 1,693,518 |
The taxation charge is represented by:
Taxation payable in respect of the current period | 1,698,504 | 1,450,807 |
Deferred tax | 270,065 | 242,711 |
| 1,968,569 | 1,693,518 |
DEFERRED TAX LIABILITY
Balance at beginning of year | $5,227,312 | $4,984,601 |
Transfer to Statement of financial performance | 270,065 | 242,711 |
Balance at end of year | $5,497,377 | $5,227,312 |
5 DIVIDENDS
Ordinary dividend paid (.22 cents per share) | 5,665,000 | 5,500,000 |
Total dividends paid | 5,665,000 | 5,500,000 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 50
Gazette.govt.nz —
NZ Gazette 2008, No 50
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Notes to Financial Statements of Top Energy Limited
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