New Zealand Gazette – 1991 – No. 194

Page 4010

✨ Financial Statements



4010 NEW ZEALAND GAZETTE No. 194

TELECOM CENTRAL LIMITED AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

7 FIXED ASSETS

30 September 31 March
1991 1990 1991
$000's $000's $000's

Telecommunication equipment:

- Cost 1,001,235 934,844 982,448
- Accumulated depreciation (334,556) (276,498) (317,514)
666,679 658,346 664,934
--- --- --- ---
Capital work in progress 50,856 56,396 54,724
Land 18,659 19,489 19,327

Buildings:

- Cost 105,932 102,232 106,764
- Accumulated depreciation (15,003) (11,960) (13,664)
90,929 90,272 93,100

Other fixed assets:

- Cost 103,435 88,829 106,583
- Accumulated depreciation (46,317) (35,438) (41,275)
57,118 53,391 65,308
--- --- --- ---
Total cost 1,280,117 1,201,790 1,269,846
Total accumulated depreciation (395,876) (323,896) (372,453)
Total net book value 884,241 877,894 897,393

Included in telecommunications equipment, at 30 September 1991, 30 September 1990 and 31 March 1991 respectively, is equipment (principally customer premises equipment) leased to customers under operating leases with a cost of $103.3 million, $96.1 million and $98.6 million, together with accumulated depreciation of $79.3 million, $59.2 million and $69.1 million.

Other fixed assets include tools and plant, vehicles, office equipment, furniture and fittings and computer equipment.

During the six months ended 30 September 1991, the Company entered into a sale and leaseback of telecommunications equipment with a fellow group company.

At 30 September 1991, assets capitalised under finance leases associated with this transaction had a cost of $50.3 million and accumulated depreciation of $0.6 million.



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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements of Telecom Central Limited (continued from previous page)

🏭 Trade, Customs & Industry
Telecommunications, Financial Statements, Fixed Assets, Depreciation, Capital Work, Land, Buildings, Equipment Leasing, Sale and Leaseback