✨ 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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🏭 Telecom Wellington Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
7 June 1991
Telecommunications, Financial Reporting, Balance Sheet, Assets, Liabilities, Shareholders' Equity
  • W J Harrison, Chairman
  • G Hoddinott, Managing Director