New Zealand Gazette – 1993 – No. 94

Page 1744

✨ Financial Statements



1744 NEW ZEALAND GAZETTE No. 94

TELECOM AUCKLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

7 FIXED ASSETS

1993 1992
$000's $000's
Telecommunication equipment:
- Cost 1,259,587 1,168,661
- Accumulated depreciation (510,574) (409,281)
749,013 759,380
Capital work in progress 33,747 65,821
Land 53,223 57,405
Buildings:
- Cost 151,511 137,366
- Accumulated depreciation (24,626) (14,382)
126,885 122,984
Other fixed assets:
- Cost 109,356 132,023
- Accumulated depreciation (55,491) (54,733)
53,865 77,290
Total cost 1,607,424 1,561,276
Total accumulated depreciation (590,691) (478,396)
Total net book value 1,016,733 1,082,880

At 31 March 1993 the net book value of freehold land and buildings exceeded the aggregate of the latest available government valuations, together with the cost of subsequent additions (excluding properties designated for disposal). Telecom Auckland's properties consist primarily of special purpose network buildings. The economic value to Telecom Auckland of these network buildings is not fully reflected in government valuations.

Included in telecommunications equipment, at 31 March 1993, and 31 March 1992 respectively, is equipment (principally customer premises equipment) leased to customers under operating leases with a cost of $199.6 million and $191.2 million, together with accumulated depreciation of $158.7 million and $140.1 million.

During the year ended 31 March 1993, 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 years ended 31 March 1992 and 31 March 1993, the Company entered into the sale and leaseback of telecommunications equipment with a fellow group company and a third party respectively. At 31 March 1993, assets capitalised under finance leases associated with these transactions had a cost of $86.1 million (1992: $75.8 million) and accumulated depreciation of $13.9 million (1992: $5.1 million).



Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1993, No 94


NZLII — PDF NZ Gazette 1993, No 94




✨ LLM interpretation of page content

🏭 Financial Statements under Telecommunications (Disclosure) Regulations 1990 (continued from previous page)

🏭 Trade, Customs & Industry
13 May 1993
Telecommunications, Financial Statements, Fixed Assets, Depreciation, Leaseback, Valuations