New Zealand Gazette – 1991 – No. 194

Page 4038

✨ Financial Statements



4038 NEW ZEALAND GAZETTE No. 194

TELECOM SOUTH LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 1991

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

ASSETS

Current assets:

Cash 57 703 2,519
Accounts receivable and prepaid expenses 5 66,599 80,567 58,533
Inventories 22,364 25,782 23,339
Prepaid income tax 4 - 1,780
Total current assets 89,020 107,052 86,171
Investment in fellow subsidiary company 1,160 - -
Other assets 6 7,294 7,258 6,213
Fixed assets 7 875,523 834,730 875,679
Total assets 972,997 949,040 968,063

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Bank overdraft 489 1,752 4,963
Debt due within one year 9 3,022 -
Taxation payable 4 8,250 3,018 -
Accounts payable and accruals 8 62,507 100,525 110,749
Proposed dividend 27,893 3,373 -
Total current liabilities 102,161 108,668 115,712
Deferred income tax 4 9,261 - 5,651
Long term debt 9 257,639 244,881 244,881
Total liabilities 369,061 354,383 366,244
Commitments and contingent liabilities 11,12 ... ...

Shareholders' equity:
Ordinary shares, $1.00 each
- Authorised, issued and fully paid 171,411,000 shares 171,411 171,411 171,411
Redeemable preference shares, $1.00 each
- Authorised, issued and fully paid 39,997 shares 40 40 40
--- --- --- --- ---
Share premium reserve 399,930 399,930 399,930
Retained earnings 32,555 23,276 30,438
Total shareholders' equity 603,936 594,657 601,819
Total liabilities and shareholders' equity 972,997 949,040 968,063

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 B ASH
CHAIRMAN MANAGING DIRECTOR

CHRISTCHURCH, 17 DECEMBER 1991



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✨ LLM interpretation of page content

🏭 Balance Sheet for Telecom South Limited (continued from previous page)

🏭 Trade, Customs & Industry
17 December 1991
Financial Statements, Assets, Liabilities, Shareholders' Equity, Telecom South Limited
  • W J Harrison, Chairman of the Board
  • B Ash, Managing Director