β¨ Financial Statements
4606 NEW ZEALAND GAZETTE No. 205
TELECOM SOUTH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
7. FIXED ASSETS
| 30 September | 31 March | ||
|---|---|---|---|
| 1992 | 1991 | 1992 | |
| $000's | $000's | $000's | |
| Telecommunication equipment: | |||
| - Cost | 1,055,453 | 963,895 | 1,003,223 |
| - Accumulated depreciation | (392,165) | (313,794) | (343,180) |
| 663,288 | 650,101 | 660,043 | |
| Capital work in progress | 26,287 | 49,240 | 37,056 |
| Land | 34,860 | 37,678 | 35,186 |
| Buildings: | |||
| - Cost | 107,174 | 91,700 | 91,595 |
| - Accumulated depreciation | (16,247) | (12,269) | (10,004) |
| 90,927 | 79,431 | 81,591 | |
| Other fixed assets: | |||
| - Cost | 75,802 | 101,135 | 112,785 |
| - Accumulated depreciation | (37,534) | (42,062) | (48,094) |
| 38,268 | 59,073 | 64,691 | |
| Total cost | 1,299,576 | 1,243,648 | 1,279,845 |
| Total accumulated depreciation | (445,946) | (368,125) | (401,278) |
| Total net book value | 853,630 | 875,523 | 878,567 |
Included in telecommunications equipment, at 30 September 1992 and 30 September 1991 and 31 March 1992 respectively, is equipment (principally customer premises equipment) leased to customers under operating leases with a cost of $120.4 million, $121.4 million and $117.6 million, together with accumulated depreciation of $102.7 million, $89.7 million and $97.2 million.
During the period to 30 September 1992 there were reclassifications from other fixed assets of tools and plant, and fittings to telecommunications equipment and buildings respectively. Other fixed assets now include vehicles, office equipment, furniture and computer equipment.
During the year ended 31 March 1992, the Company entered into a sale and leaseback of telecommunications equipment with a fellow group company. At 30 September 1992, assets capitalised under finance leases associated with this transaction had a cost of $49.1 million (30 September 1991: $34.6 million, 31 March 1992: $49.1 million) and accumulated depreciation of $7.1 million (30 September 1991: $0.3 million, 31 March 1992: $3.4 million).
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VUW Te Waharoa —
NZ Gazette 1992, No 205
NZLII —
NZ Gazette 1992, No 205
β¨ LLM interpretation of page content
π°
Telecom South Limited Financial Statements
(continued from previous page)
π° Finance & Revenue12 November 1992
Financial Statements, Notes, Fixed Assets, Telecommunication Equipment, Capital Work in Progress, Land, Buildings, Other Fixed Assets, Depreciation, Leaseback