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New Zealand Gazette – 1991 – No. 97

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✨ Financial Statements

2152

NEW ZEALAND GAZETTE

No. 97

TELECOM CENTRAL LIMITED AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

8 ACCOUNTS PAYABLE AND ACCRUALS

	1991 $000's	1990 $000's
Trade accounts payable and accruals	24,589	12,649
Accrued personnel costs	12,046	4,740
Rentals billed in advance	11,394	9,014
Payable to fellow subsidiary companies	14,743	15,516
Payable to parent company	162,015	-
	224,787	41,919

9 LONG TERM DEBT

	1991 $000's	1990 $000's
Parent company loan	254,042	-
Other	730	126,358
	254,772	126,358

Interest rates on the parent company loan ranged from 13.56% to 14.28% for the year ended 31 March 1991. The parent company loan has no fixed date for repayment.

10 SHAREHOLDER'S EQUITY

SHARE PREMIUM RESERVE

	1991 $000's	1990 $000's
Balance at beginning of period	206,359	-
Balance from acquired subsidiary (consisting of a premium of $9,999 on 21,272 redeemable preference shares)	212,699
Movements during period:
-Premium of $9,999 on 20,638 redeemable preference shares	-	206,359
-Dividend declared	(212,699)	-
-Premium of $9,999 on 21,272 redeemable preference shares	212,699	-
	419,058	206,359

Dividends declared apply to redeemable preference shares as if they were ordinary shares. On winding up of the company preference shareholders rank in priority to ordinary shareholders in respect of outstanding dividends and the issue price of the redeemable preference shares. The redeemable preference shares are subject to redemption, at the issue price five days after written notice from the holder.

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VUW Te Waharoa — NZ Gazette 1991, No 97

NZLII — NZ Gazette 1991, No 97

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✨ LLM interpretation of page content

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

Domain🏭 Trade, Customs & Industry
Dated7 June 1991
KeywordsTelecommunications, Financial Reporting, Accounts Payable, Long Term Debt, Shareholder Equity

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