New Zealand Gazette – 2009 – No. 173

Page 4234

✨ Financial Statements Notes



NGC HOLDINGS LIMITED

GAS RETAILING ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2009

  1. OPERATING SURPLUS BEFORE INTEREST AND INCOME TAX
2009
$000
-------
Operating surplus before interest and income tax includes:
Audit fees 28
28
Depreciation of plant, vehicles and equipment 159
58
Operating leasing costs 47
38
Employee benefits 1,124
539
Amortisation of software intangibles 214
145
(Decrease) / increase in provisions (5,924)
5,926
(Decrease) / increase in provision for doubtful debt (538)
499
  1. NET FINANCE COSTS
2009
$000
--------------- -------
Finance costs
Interest expense 1,447
528
  1. INCOME TAX EXPENSE
NOTE 2009
$000
Operating surplus before income tax 4,909
10,591
Tax at current rate of 30% (2008:33%) 1,473
3,495
Prior period adjustment (132)
Other 2
2
Income tax expense 1,343
3,497
Current income tax 1,295
3,535
Deferred income tax 4 48
(38)
Total 1,343
3,497
  1. DEFERRED TAX
PROPERTY, PLANT AND EQUIPMENT PROVISIONS AND ACCRUALS TOTAL
$000 $000 $000
2009
Balance at the beginning of the period (23) 77 54
Amounts recognised in the income statement:
Relating to current period (130) (206) (336)
Prior period adjustment recognised in the current period 95 193 288
Balance at the end of the period (58) 64 6
Deferred tax assets - 64 64
Deferred tax liabilities (58) - (58)
Net deferred tax (liability) / asset (58) 64 6


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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2009, No 173




✨ LLM interpretation of page content

🏭 Certification of Financial Statements Disclosed by Directors of the Corporation (continued from previous page)

🏭 Trade, Customs & Industry
23 November 2009
Financial statements, Certification, Directors, NGC Holdings Limited, Gas Retailing Activities