β¨ Financial Statements
NEW ZEALAND GAZETTE
No. 97
TELECOM WELLINGTON LIMITED
BALANCE SHEET
AS AT 31 MARCH
| Notes | 1991 | 1990 | |
|---|---|---|---|
| $000's | $000's |
ASSETS
Current assets:
Cash | | 21 | -
Short term investments | 6 | 3,123 | -
Accounts receivable and prepaid expenses | 5 | 76,992 | 104,241
Inventories | | 16,820 | 23,161
Prepaid income tax | 4 | 794 | 10,366
Total current assets | | 97,750 | 137,768
Future tax benefit | 4 | 5,780 | 11,009
Investment in fellow subsidiary company | 7 | 54,000 | -
Fixed assets | 8 | 432,614 | 419,722
Total assets | | 590,144 | 568,499
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Bank overdraft | | 1,635 | 2,994
Accounts payable and accruals | 9 | 93,646 | 84,621
Proposed dividend | 11 | - | 20,223
Total current liabilities | | 95,281 | 107,838
Long term debt | 10 | 139,575 | 132,452
Total liabilities | | 234,856 | 240,290
Commitments and contingent liabilities | 12,13 | | |
Shareholders' equity:
Ordinary shares, $1.00 each | 11 | |
-Authorised, issued and fully paid 92,714,000 shares | | 92,714 | 92,714
Redeemable preference shares, $1.00 each |
-Authorised, issued and fully paid 21,634 shares | | 22 | 22
Share premium reserve | | 216,318 | 216,318
Retained earnings | | 46,234 | 19,155
Total shareholders' equity | | 355,288 | 328,209
Total liabilities and shareholders' equity | | 590,144 | 568,499
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
G HODDINOTT
MANAGING DIRECTOR
WELLINGTON, 7 JUNE 1991
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NZ Gazette 1991, No 97
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NZ Gazette 1991, No 97
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π
Telecom Wellington Limited Financial Statements
(continued from previous page)
π Trade, Customs & Industry7 June 1991
Telecommunications, Financial Reporting, Balance Sheet, Assets, Liabilities, Shareholders' Equity
- W J Harrison, Chairman
- G Hoddinott, Managing Director