✨ Telecom Financial Statements
28 JUNE NEW ZEALAND GAZETTE 2167
TELECOM WELLINGTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
7 INVESTMENT IN FELLOW SUBSIDIARY COMPANY
| 1991 | 1990 | |
|---|---|---|
| $000's | $000's | |
| Redeemable preference shares | 54,000 | - |
8 FIXED ASSETS
| 1991 | 1990 | |
|---|---|---|
| $000's | $000's | |
| Telecommunication equipment: | ||
| - Cost | 448,989 | 419,644 |
| - Accumulated depreciation | (173,361) | (146,964) |
| 275,623 | 272,680 | |
| Capital work in progress | 12,187 | 19,013 |
| Land | 41,896 | 43,747 |
| Buildings: | ||
| - Cost | 63,520 | 58,743 |
| - Accumulated depreciation | (5,930) | (5,096) |
| 57,590 | 53,647 | |
| Other fixed assets: | ||
| - Cost | 68,560 | 44,414 |
| - Accumulated depreciation | (23,247) | (13,779) |
| 45,313 | 30,635 | |
| Total cost | 635,152 | 585,561 |
| Total accumulated depreciation | (202,538) | (165,839) |
| Total net book value | 432,614 | 419,722 |
Other fixed assets include tools and plant, vehicles, office equipment, furniture and fittings and computer equipment.
Included in telecommunications equipment is equipment (principally customer premises equipment) leased to customers under operating leases with a cost of $105.5 million (1990: $102.1 million), together with accumulated depreciation of $70.2 million (1990: $64.6 million).
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VUW Te Waharoa —
NZ Gazette 1991, No 97
NZLII —
NZ Gazette 1991, No 97
✨ LLM interpretation of page content
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Telecom Wellington Limited Financial Statements
(continued from previous page)
🏭 Trade, Customs & Industry7 June 1991
Telecommunications, Financial Reporting, Investment, Fixed Assets, Depreciation