New Zealand Gazette – 1992 – No. 205

Page 4587

✨ Financial Statements Notes



18 DECEMBER

NEW ZEALAND GAZETTE

4587

TELECOM WELLINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

5 ACCOUNTS RECEIVABLE AND PREPAID EXPENSES

| | 30 September | | 31 March |
| | 1992 | 1991 | 1992 |
| | $000's | $000's | $000's |
|-------------------|--------------|----------|----------|
| Accounts receivable, net of allowance for doubtful accounts of $2.5 million (September 1991: $4.7 million, March 1992: $3.5 million) | 19,851 | 38,386 | 24,990 |
| Unbilled rentals and tolls | 14,343 | 19,977 | 18,636 |
| Due from fellow subsidiary companies | 1,852 | 2,163 | 2,141 |
| Due from parent company | - | - | 11,744 |
| Prepaid expenses and other | 847 | 241 | 720 |
| | 36,893 | 60,767| 58,231|

6 SHORT TERM INVESTMENTS

| | 30 September | | 31 March |
| | 1992 | 1991 | 1992 |
| | $000's | $000's | $000's |
|-------------------|--------------|----------|----------|
| Redeemable preference units | 3,123 | 3,123 | 3,123 |
| Redeemable preference shares in fellow subsidiary company | - | 54,000 | - |
| | 3,123 | 57,123| 3,123 |

7 INVESTMENTS

| | 30 September | | 31 March |
| | 1992 | 1991 | 1992 |
| | $000's | $000's | $000's |
|-------------------|--------------|----------|----------|
| Redeemable preference shares: | | | |
| - Fellow subsidiary companies | 214,840 | 210,840 | 215,520 |
| - Other | 10,600 | 10,600 | 10,600 |
| | 225,440 | 221,440| 226,120|

8 OTHER ASSETS

Other assets include certain deferred expenditure amounting to $0.9 million (30 September 1991: nil, 31 March 1992: $1.1 million) incurred in relation to the installation of major computer systems. The deferred costs relating to each phase of the system are charged to earnings over a period of two years from the date upon which that phase of the system becomes fully operational. Deferred costs amortised during the six months ended 30 September 1992 amounted to $0.3 million (30 September 1991: nil, 31 March 1992: $0.5 million).



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💰 Telecom Wellington Limited Financial Statements (continued from previous page)

💰 Finance & Revenue
Financial Statements, Accounts Receivable, Prepaid Expenses, Short Term Investments, Investments, Other Assets