New Zealand Gazette – 1996 – No. 124

Page 3117

✨ Electricity Financial Statements



20 SEPTEMBER NEW ZEALAND GAZETTE 3117

ELECTRICITY ASHBURTON LIMITED - LINES BUSINESS ACTIVITY

STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEAR ENDED 31 MARCH 1996

Notes 1996 1995
$ $
REVENUE 1 9,381,833 8,978,234
OPERATING EXPENDITURE 2 5,429,388 5,250,206
DEPRECIATION 1,412,058 1,756,717
6,841,446 7,006,923
OPERATING SURPLUS before Rebate 2,540,387 1,971,311
Customer Rebates 9 1,158,154 0
OPERATING SURPLUS before Taxation 1,382,233 1,971,311
Taxation 3 640,702 663,470
OPERATING SURPLUS after Taxation $741,531 $1,307,841

STATEMENT OF MOVEMENTS IN EQUITY
FOR THE YEAR ENDED 31 MARCH 1996

1996 1995
$ $
EQUITY AT THE START OF THE YEAR 1,400,524 92,683
Total Recognised Revenue and Expenses for the Period 741,531 1,307,841
EQUITY AT THE END OF THE YEAR $2,142,055 $1,400,524

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 1996

Notes 1996 1995
EQUITY : $ $
Authorised Capital :
31,000,000 shares of $1 31,000,000 30,000,000
Issued Capital :
24,200,000 shares of $1 fully paid
Deferred Shares 8 23,191,670 23,191,670
Rebate Shares 1,008,330 1,008,330
Share Premium Reserve 1,756,173 1,756,173
Retained Earnings 2,142,055 1,400,524
TOTAL SHAREHOLDERS' EQUITY $28,098,228 $27,356,697

REPRESENTED BY :

CURRENT ASSETS :
Bank and Short Term Deposits ... 70,064 ... 421,903
Inventories ... 1,305,011 ... 1,390,606
Accounts Receivable ... 5 ... 1,620,275 ... 1,548,469
Total Current Assets: ... 2,995,350 ... 3,360,978

CURRENT LIABILITIES :
Provision for Taxation ... 95,620 ... 433,163
Customer Rebate Payable ... 9 ... 1,302,923 ... 0
Accounts Payable ... 6 ... 891,270 ... 811,597
Total Current Liabilities ... 2,289,813 ... 1,244,760

NET CURRENT ASSETS ... 705,537 ... 2,116,218

NON CURRENT ASSETS :
Investments ... 0 ... 0
Fixed Assets ... 4 ... 28,118,088 ... 25,653,224
Total Non Current Assets ... 28,118,088 ... 25,653,224

NON CURRENT LIABILITIES :
Deferred Taxation ... 725,397 ... 412,745
TOTAL NET ASSETS ... $28,098,228 ... $27,356,697

For and on behalf of the Board

Edwin Glass, CHAIRMAN
D G Church, DIRECTOR

DATE: 13 August 1996

The accompanying notes form part of these financial statements



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✨ LLM interpretation of page content

🏭 Electricity Information Disclosure for Ashburton Limited (continued from previous page)

🏭 Trade, Customs & Industry
13 August 1996
Electricity, Financial Statements, Ashburton Limited, Revenue, Expenditure, Equity, Assets, Liabilities
  • Edwin Glass, Chairman of the Board
  • D. G. Church, Director of the Board