New Zealand Gazette – 1995 – No. 82

Page 2267

✨ Financial Statements



18 AUGUST NEW ZEALAND GAZETTE 2267

ALPINE ENERGY LIMITED

NOTES TO AND FORMING PART OF THE
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1995
(CONTINUED)

  1. GOODWILL

Goodwill relates to the excess balance arising on the issue of shares for the carrying value of net assets transferred from:

$’000

Timaru Electricity 2,466
South Canterbury Electric Power Board (1,760)
706
Written Off During the Year (141)
Balance at 31 March 1995 565

This goodwill is being written off in equal instalments over a five year period commencing 1st April 1994.

  1. FIXED ASSETS

10.1 Analysis of Fixed Assets as at 31 March 1995

                            Cost        Accumulated      Book Value
                           $’000       Depreciation     at 31/3/95
                                        $’000           $’000

Land 118 - 118
Buildings 2,848 639 2,209
Reticulation System 43,854 17,703 26,151
Vehicles & Plant 4,395 2,944 1,451

                       51,215         21,286           29,929

10.2 Valuation of Properties

The most recent Government Valuation of land and improvements was undertaken as at 1st September 1993 in Timaru District, 1st September 1994 in Mackenzie District and 1st October 1992 in Waimate District. Latest valuations adjusted for the purchase and disposal of property since these dates are:

Land $531,250
Improvements $3,376,300

  1. CONTINGENT LIABILITIES

The Company has no contingent liabilities as at 31 March 1995.

  1. CAPITAL COMMITMENTS

The Company has capital commitments amounting to $452,648 as at 31 March 1995.



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Financial Statements, Goodwill, Fixed Assets, Contingent Liabilities, Capital Commitments, Alpine Energy Limited