New Zealand Gazette – 1993 – No. 94

Page 1762

✨ Financial Statements



1762

NEW ZEALAND GAZETTE

No. 94

TELECOM CENTRAL LIMITED AND SUBSIDIARY

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

7 FIXED ASSETS

1993 $000's 1992 $000's
Telecommunication equipment:
- Cost 1,126,290 1,047,342
- Accumulated depreciation (455,018) (373,149)
671,272 674,193
Capital work in progress 33,178 33,106
Land 15,332 17,520
Buildings:
- Cost 120,349 107,382
- Accumulated depreciation (25,555) (16,688)
94,794 90,694
Other fixed assets:
- Cost 81,378 114,670
- Accumulated depreciation (45,747) (52,425)
35,631 62,245
Total cost 1,376,527 1,320,020
Total accumulated depreciation (526,320) (442,262)
Total net book value 850,207 877,758

The aggregate of the latest available government valuations, together with the cost of land and buildings subsequently acquired, approximates the net book value of land and buildings.

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 $104.0 million and $102.6 million, together with accumulated depreciation of $89.2 million and $87.2 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 year 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 $59.6 million (1992: $50.3 million) and accumulated depreciation of $9.9 million (1992: $3.6 million).



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✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
Telecommunications, Financial Statements, Fixed Assets, Depreciation, Equipment, Buildings, Leases