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New Zealand Gazette – 1990 – No. 224

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✨ Financial Notes

24 DECEMBER

NEW ZEALAND GAZETTE

5143

TELECOM AUCKLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS—continued

	30 September 1990	31 March 1990
	$000's	$000's

8 TERM LIABILITIES (UNSECURED)

Parent company loan ... 284,491 ... 284,491

Interest rates on the parent company loan ranged from 14.14% to 14.28% for the six months ended 30 September 1990. The parent company loan has no fixed date for repayment.

9 TAXATION

Current taxation:

Balance at beginning of period ... 23,290
Total taxation in the current period (Note 5) ... (7,182) ... (18,236)
Tax paid ... 41,526

Prepaid taxation ... 16,108 ... 23,290

Deferred taxation:

Balance at beginning of period ... (1,264) ... 12,242
Provided in the current period (Note 5) ... (5,723) ... (13,506)
Other movements ... 7,274

Future tax benefit/(Deferred tax provision) ... 287 ... (1,264)

10 PROVISION FOR RESTRUCTURING COSTS

Transferred from Telecom ... 26,334
Charges against provision ... (36,257)

Transfer from earnings ... 9,923 ...

11 SHARE PREMIUM RESERVE

Balance at beginning of period (Consisting of a premium of $9,999 on 46,466 redeemable preference shares) ... 464,614

Movements during period ... 464,614 ... 464,614

The redeemable preference shares are subject to redemption, at the issue price, five days after written notice from the holder.

12 ACCOUNTS RECEIVABLE AND PREPAYMENTS

Accounts receivable ... 92,772 ... 91,278
Unbilled rentals and tolls ... 26,621 ... 33,838
Due from fellow subsidiary companies ... 5,066 ... 1,324
House mortgage loans to employees ... 126 ... 177
Other accounts receivable and prepayments ... 5,362 ... 6,044

Total accounts receivable and prepayments ... 129,947 ... 132,661

Included in other accounts receivable and prepayments is an amount of $3.0 million (31 March 1990: $4.4 million) being the deferral of certain expenditure incurred in relation to the installation of a major computer system. These costs are progressively charged to earnings as each phase of the system becomes fully operational.

13 INVENTORIES

Revenue work in progress ... 7,980 ... 14,289
Inventories ... 47,669 ... 40,320

Total inventories ... 55,649 ... 54,609

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VUW Te Waharoa — NZ Gazette 1990, No 224

NZLII — NZ Gazette 1990, No 224

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✨ LLM interpretation of page content

🏭 Telecom Auckland Limited Financial Position Statement (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statement, Term Liabilities, Taxation, Restructuring Costs, Share Premium Reserve, Accounts Receivable, Inventories

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