New Zealand Gazette – 1994 – No. 128

Page 3836

✨ Financial Statements Notes



3836

NEW ZEALAND GAZETTE

No. 128

NOTES TO THE FINANCIAL STATEMENTS

June 1994
$000

  1. DEFERRED TAXATION
    Opening balance (1993 restated) 195,251
    Less: Movement for the period (note 4) (2,143)
    Closing balance 193,108

  2. SHAREHOLDERS' FUNDS
    Authorised capital
    1,999,200,000 ordinary shares of $1 each 1,999,200
    800,000 preference shares of $1 each 800
    Total authorised capital 2,000,000

Issued and uncalled capital
100,000 ordinary shares of $1 each

Issued and paid up capital
1,000,000,000 ordinary shares of $1 each, 1,000,000
issued at a premium of $1.50 each

800,000 redeemable cumulative preference shares of
$1 each, issued at a premium of $999 each 800
Total issued and paid up capital 1,000,800

Share premium reserve
In respect of ordinary shares 1,500,000
In respect of preference shares 799,200
Total share premium reserve 2,299,200
Total paid up capital and share premium reserve 3,300,000

Hydrology reserve
Opening balance 24,000
Transferred (to) from statement of financial performance:
Fuel burnt (4,574)
Rebuilding the reserve 15,000
Closing balance 34,426

Retained earnings
Per statement of financial performance 506,210
Total shareholders' funds 3,840,636

As stated in note 27 the preference shares of $800 million, together with
preference dividends of $437 million, were repaid on 1 July 1994 out of the
proceeds of the sale of the shares in Trans Power New Zealand Limited to the Crown.



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✨ LLM interpretation of page content

🌾 Electricity Corporation of New Zealand Limited Financial Statements (continued from previous page)

🌾 Primary Industries & Resources
Financial statements, Deferred taxation, Shareholders' funds, Authorised capital, Issued capital, Share premium reserve, Hydrology reserve, Retained earnings