Financial Statements




23 SEPTEMBER NEW ZEALAND GAZETTE 3127

STATEMENT OF FINANCIAL POSITION

Years ending 31 March

Notes 1996 Line Business $000's 1995 Line Business $000's 1996 Electricity Related Businesses $000's 1995 Electricity Related Businesses $000's
ASSETS
Current Assets
Bank and short term deposits - 1,909 5 3
Accounts receivable 9,930 8,412 18,358 18,829
Accounts receivable - internal 7 10 2,131 3,301
Inventories 330 637 5,847 6,532
Income tax 615 - 35 -
Intercompany balances - - (2) -
10,882 10,968 26,374 28,665
Non-Current Assets
Other long-term investments 16 60 - -
Fixed assets 310,912 301,695 5,372 5,519
310,928 301,755 5,372 5,519
TOTAL ASSETS 321,810 312,723 31,746 34,184

| LIABILITIES | | | | |
| Current Liabilities | | | | |
| Bank overdraft | 77 | - | - | - |
| Accounts payable and accruals | 11,626 | 10,001 | 14,795 | 16,287 |
| Accounts payable - internal | 2,131 | 3,301 | 7 | 10 |
| Income tax | - | 1,670 | - | 270 |
| Debt due within one year | 255 | 259 | - | - |
| Provision for dividend | 3,616 | 3,478 | 250 | 634 |
| | 17,705 | 18,709 | 15,052 | 17,201 |

| SHAREHOLDERS’ EQUITY | | | | |
| Mandatory Convertible Notes | 2 | 76,000 | 76,000 | - | - |
| Ordinary shares | 2 | 69,531 | 58,121 | 10,469 | 9,794 |
| Share premium reserve | 2 | 34,766 | 29,061 | 5,234 | 4,897 |
| Retained earnings | 2 | 6,580 | 13,604 | 991 | 2,292 |
| Revaluation reserve | | 117,228 | 117,228 | - | - |
| | 304,105 | 294,014 | 16,694 | 16,983 |
| TOTAL LIABILITIES AND EQUITY | 321,810 | 312,723 | 31,746 | 34,184 |



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