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 - | 3,123
Accounts receivable and prepaid expenses 5 60,767 69,710 | 76,992
Inventories 15,142 20,299 | 16,820
Prepaid income tax 4 972 4,826 | 794
Total current assets 134,117 94,860 | 97,750
Future tax benefit 4 4,429 7,780 | 5,780
Investments in fellow subsidiary companies 7 221,440 - | 54,000
Other assets 8 1,374 - | -
Fixed assets 9 418,316 433,175 | 432,614
Total assets 779,676 535,815 | 590,144

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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✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
16 December 1991
Earnings, Financial Report, Telecom, Revenue, Expenses
  • W J Harrison, Chairman of the Board
  • G Hoddinott, Managing Director