New Zealand Gazette – 1991 – No. 194

Page 4020

✨ Financial Report

4020
NEW ZEALAND GAZETTE
No. 194

TELECOM WELLINGTON LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 1991

Notes	30 September 1991 $000's	1990 $000's	31 March 1991 $000's
ASSETS
Current assets:
Cash	113	25	21
Short term investments	6	57,123	-
Accounts receivable and prepaid expenses	5	60,767	69,710
Inventories		15,142	20,299
Prepaid income tax	4	972	4,826
Total current assets		134,117	94,860
Future tax benefit	4	4,429	7,780
Investments in fellow subsidiary companies	7	221,440	-
Other assets	8	1,374	-
Fixed assets	9	418,316	433,175
Total assets		779,676	535,815

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Bank overdraft | 59 | 1,569 | 1,635
Accounts payable and accruals | 10 | 95,269 | 59,132 | 93,646
Proposed dividend | | 14,640 | 4,086 | -

Total current liabilities | | 109,968 | 64,787 | 95,281
Long term debt | 11 | 316,215 | 132,452 | 139,575

Total liabilities | | 426,183 | 197,239 | 234,856

Commitments and contingent liabilities | 13,14

Shareholders' equity:

Ordinary shares, $1.00 each
-Authorised, issued and fully paid 92,714 shares | 92,714 | 92,714 | 92,714
Redeemable preference shares, $1.00 each
-Authorised, issued and fully paid 21,634 shares | 22 | 22 | 22
Share premium reserve | 216,318 | 216,318 | 216,318
Retained earnings | 44,439 | 29,522 | 46,234

Total shareholders' equity | | 353,493 | 338,576 | 355,288

Total liabilities and shareholders' equity | | 779,676 | 535,815 | 590,144

The accompanying notes form part of and are to be read in conjunction with these financial statements.

On behalf of the Board

W J HARRISON G HODDINOTT
CHAIRMAN MANAGING DIRECTOR

WELLINGTON, 17 DECEMBER 1991

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VUW Te Waharoa — NZ Gazette 1991, No 194

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✨ LLM interpretation of page content

🏭 Statement of Earnings for Telecom Wellington Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated16 December 1991
KeywordsEarnings, Financial Report, Telecom, Revenue, Expenses
👱🏽 Names

W J Harrison, Chairman of the Board
G Hoddinott, Managing Director

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