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