New Zealand Gazette – 1991 – No. 97

Page 2181

✨ Financial Statements

28 JUNE NEW ZEALAND GAZETTE 2181

TELECOM SOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

	1991	1990
	$000's	$000's
2 OPERATING EXPENSES
	328,719	326,919

Included in operating expenses are:

	1991	1990
Depreciation	101,303	90,233
Audit fees	190	145
Intercompany management fee	15,431	19,471
Lease and rental costs	5,849	5,187

The formula used in determining the amount of labour and overhead capitalised to the cost of self constructed assets has been varied with the effect that for the year ended 31 March 1991 an additional $4.3 million of overhead which otherwise would have been charged to earnings after taxation, was capitalised.

	1991	1990
	$000's	$000's
3 INTEREST

Interest income:

Intercompany | 174 | 787 |

Interest expense:

Intercompany | 35,898 | 34,990 |
Other | (10) | 20 |
| 35,888 | 35,010 |
Less interest capitalised | (3,348) | (501) |
| 32,540 | 34,509 |

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VUW Te Waharoa — NZ Gazette 1991, No 97

NZLII — NZ Gazette 1991, No 97

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Telecom South Limited Notes to Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsTelecommunications, Financial Statements, Operating Expenses, Depreciation, Audit Fees, Intercompany Management Fee, Lease and Rental Costs, Interest Income, Interest Expense

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