✨ Financial Statements
VECTOR LIMITED & SUBSIDIARIES
GAS TRANSMISSION ACTIVITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2011
4. DEFERRED TAX
| PROPERTY, PLANT AND EQUIPMENT | PROVISIONS, ACCRUALS AND OTHER | TOTAL | |
|---|---|---|---|
| $000 | $000 | $000 |
2011
Balance at beginning of the period | (96,855) | 1,737 | (95,118)|
Amounts recognised in the statement of comprehensive income:
Relating to the current period | (137) | 241 | 104 |
Prior period adjustments recognised in the current period | 88 | 511 | 599 |
Relating to future reduction in tax rate | (69) | (6) | (75) |
Amounts recognised directly in the statement of financial position in relation to allocated assets and liabilities | 1,089 | (661) | 428 |
Balance at end of the period | (95,884) | 1,822 | (94,062)|
Deferred tax assets | - | 1,822 | 1,822 |
Deferred tax liabilities | (95,884) | - | (95,884)|
Net deferred tax (liabilities) / assets | (95,884) | 1,822 | (94,062)|
| PROPERTY, PLANT AND EQUIPMENT | PROVISIONS, ACCRUALS AND OTHER | TOTAL | |
|---|---|---|---|
| $000 | $000 | $000 |
2010
Balance at beginning of the period | (104,342) | 927 | (103,415)|
Amounts recognised in the statement of comprehensive income:
Relating to the current period | 3,055 | (208) | 2,847 |
Prior period adjustments recognised in the current period | (416) | 1,029 | 613 |
Relating to future reduction in tax rate | 6,918 | (124) | 6,794 |
Relating to future change in buildings depreciation rules | (676) | - | (676) |
Amounts recognised directly in the statement of financial position in relation to allocated assets and liabilities | (1,304) | 113 | (1,281) |
Balance at end of the period | (96,855) | 1,737 | (95,118)|
Deferred tax assets | - | 1,737 | 1,737 |
Deferred tax liabilities | (96,855) | - | (96,855)|
Net deferred tax (liabilities) / assets | (96,855) | 1,737 | (95,118)|
5. RECEIVABLES AND PREPAYMENTS
| 2011 | 2010 | |
|---|---|---|
| $000 | $000 |
Current
Trade receivables | 8,013 | 7,455 |
Provision for doubtful debts | (17) | (59) |
| 7,996 | 7,396 |
Prepayments | 625 | 1,366 |
Total | 8,621 | 8,762 |
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NZ Gazette 2012, No 24
✨ LLM interpretation of page content
💰
Statement of Accounting Policies for Vector Limited Gas Transmission Activities
(continued from previous page)
💰 Finance & RevenueAccounting Policies, Financial Statements, Gas Transmission, Vector Limited, Impairment, Recoverable Amount, Fair Value, Cash Flows, Discount Rate, Impairment Loss