Financial Statements




NEW ZEALAND GAZETTE

No. 97

TELECOM CENTRAL LIMITED AND SUBSIDIARY

CONSOLIDATED BALANCE SHEET

AS AT 31 MARCH

Notes 1991 1990
$000's $000's

ASSETS

Current assets:
Cash | | 1,055 | 730 |
Accounts receivable and prepaid expenses | 5 | 72,824 | 53,853 |
Inventories | | 26,922 | 13,537 |
Prepaid income tax | 4 | 6,648 | - |

Total current assets | | 107,449 | 68,120 |

Future tax benefit | 4 | - | 13,008 |
Other assets | 6 | 10,008 | - |
Fixed assets | 7 | 897,393 | 416,871 |

Total assets | | 1,014,850 | 497,999 |

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:
Bank overdraft | | 2,848 | 715 |
Accounts payable and accruals | 8 | 224,787 | 41,919 |
Debt due within one year | | 727 | - |
Taxation payable | 4 | - | 5,318 |
Proposed dividend | 10 | - | 19,602 |

Total current liabilities | | 228,362 | 67,554 |

Deferred income tax | 4 | 8,419 | - |
Long term debt | 9 | 254,772 | 126,358 |

Total liabilities | | 491,553 | 193,912 |

Commitments and contingent liabilities | 11,12 | | |

Shareholders’ equity:

  • Ordinary shares, $1.00 each
    • Authorised, issued and fully paid 88,456,000 shares | | 88,456 | 88,456 |
  • Redeemable preference shares, $1.00 each
    • Authorised, issued and fully paid 41,910 shares | | 42 | 21 |
      Share premium reserve | | 419,058 | 206,359 |
      Retained earnings | | 15,741 | 9,251 |

Total shareholders’ equity | | 523,297 | 304,087 |

Total liabilities and shareholders’ equity | | 1,014,850 | 497,999 |

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
CHAIRMAN

N R NICHOLLS
MANAGING DIRECTOR

HAMILTON, 7 JUNE 1991



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🏭 Telecom Central Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
7 June 1991
Telecommunications, Financial Reporting, Audit, Accounting Records
  • W J Harrison, Chairman of the Board
  • N R Nicholls, Managing Director

  • W J Harrison, Chairman
  • N R Nicholls, Managing Director