✨ Financial Statements
1782 NEW ZEALAND GAZETTE No. 94
TELECOM WELLINGTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
(CONTINUED)
11. ACCOUNTS PAYABLE AND ACCRUALS
| 1993 | 1992 | |
|---|---|---|
| $000's | $000's | |
| Trade accounts payable and accruals | 10,989 | 11,362 |
| Accrued personnel costs | 6,345 | 9,652 |
| Rentals billed in advance | 3,336 | 3,417 |
| Payable to fellow subsidiary companies | 13,280 | 30,601 |
| Total | 33,950 | 55,032 |
12. LONG TERM DEBT
| 1993 | 1992 | |
|---|---|---|
| $000's | $000's | |
| Parent company loan | 329,835 | 361,695 |
Interest rates on the parent company loan ranged from 10.34% to 12.77% for the year ended 31 March 1993. The parent company loan has no fixed date for repayment.
LEASE LIABILITY
During the year ended 31 March 1993 Telecom Wellington entered into a sale and leaseback of fixed assets. The future rental obligations have been legally defeased, and the liability thus extinguished, by the payment of $5.1 million in cash to a third party in return for which that third party has assumed responsibility for repayment of the lease liability.
13. SHAREHOLDERS' EQUITY
SHARE PREMIUM RESERVE
| 1993 | 1992 | |
|---|---|---|
| $000's | $000's | |
| Balance at beginning of year | 171,523 | 216,318 |
| (Consisting of a premium of $9,999 on 17,154 redeemable preference shares) | ||
| Movements during the period | ||
| -Premium of $9,999 on 2,120 redeemable preference shares | (21,198) | - |
| -Premium of $9,999 on 4,480 redeemable preference shares | - | (44,795) |
| Balance at end of year | 150,325 | 171,523 |
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VUW Te Waharoa —
NZ Gazette 1993, No 94
NZLII —
NZ Gazette 1993, No 94
✨ LLM interpretation of page content
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Financial Statements under Telecommunications (Disclosure) Regulations 1990
(continued from previous page)
🏭 Trade, Customs & IndustryTelecommunications, Financial Statements, Accounts Payable, Long Term Debt, Shareholders' Equity, Telecom Wellington Limited