✨ Financial Notes and Hydro Project Details
3460 NEW ZEALAND GAZETTE No. 108
Wairarapa Electricity Limited and Subsidiary Companies
Notes to the Accounts (continued)
Details of borrowings outstanding as at 31 March 1994 are contained in Note 10.
Investments
It is not practicable to estimate the fair values of investments as there is no quoted market prices for these or similar investments. Details of investments are contained in Note 11.
18. Waingawa Hydro Generation Project
Wairarapa Electricity Limited are currently engaged in a feasibility study in respect of a hydro generation project in the Wairarapa region. The directors are committed to continuing with the feasibility study.
Capitalised expenditure as at 31 March was as follows:
| Consolidated | Parent | Line business | Energy and other business | |
|---|---|---|---|---|
| 1995 | 1995 | 1995 | 1995 | |
| $000s | $000s | $000s | $000s | |
| Land and buildings | 3,007 | 293 | - | 3,007 |
| Interest | 280 | 42 | - | 280 |
| Feasibility study | 880 | - | - | 880 |
| Total expenditure capitalised | 4,167 | 335 | - | 4,167 |
Government valuation of project land and buildings:
| | 2,303 | 194 | - | 2,303 |
Resource consents have not yet been sought or received in relation to the hydro generation project. In addition, at each stage of the feasibility study, the directors assess the continued viability of the project based upon the results of an independent engineer’s review. The outcome of these events is not certain.
In the event that the hydro generation project is terminated, capitalised expenditure amounting to $1,160,000 (1994: $34,000) would be required to be written off in the Consolidated Income and Appropriation statement. Upon termination, land and buildings would be revalued to net current value and any change in value would be recognised in the financial statements.
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VUW Te Waharoa —
NZ Gazette 1995, No 108
NZLII —
NZ Gazette 1995, No 108
✨ LLM interpretation of page content
💰
Notes to the Accounts of Wairarapa Electricity Limited and Subsidiary Companies
(continued from previous page)
💰 Finance & RevenueFinancial Instruments, Borrowings, Investments, Fair Value, Feasibility Study, Hydro Generation, Capitalised Expenditure, Resource Consents, Wairarapa Electricity