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New Zealand Gazette – 1996 – No. 174

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✨ Financial Statements

2 DECEMBER

NEW ZEALAND GAZETTE

4589

ELECTRICITY CORPORATION OF NEW ZEALAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

	1996 $M	1995 $M
7. TERM ASSETS
Investment in Subsidiaries	32	53
Other Term Assets	2	1
Total Term Assets	34	54

	1996 $M	1995 $M
8. FIXED ASSETS
Freehold Land
Cost	15	35

| Freehold Buildings | | |
| Cost | 14 | 51 |
| Less Accumulated Depreciation | 1 | 8 |
| Book Value | 13 | 43 |

| Generation Plant | | |
| Cost | 3,174 | 4,791 |
| Less Accumulated Depreciation | 50 | 840 |
| Book Value | 3,124 | 3,951 |

| Capital Work in Progress | | |
| Cost | 24 | 77 |

| Other Plant and Equipment | | |
| Cost | 58 | 73 |
| Less Accumulated Depreciation | 4 | 37 |
| Book Value | 54 | 36 |

| Total Fixed Assets | | |
| Cost | 3,285 | 5,027 |
| Less Accumulated Depreciation | 55 | 885 |
| Book Value | 3,230 | 4,142 |

The aggregate of the latest available Government valuations of land is $18 million (1995 $23 million). Separate valuations of buildings are not available, but the aggregate valuation shown above would not differ materially from net current values.

As stated in note 27, the assets have been stated at deemed cost which represents fair values as at 1 February 1996. The fair values have been independently reviewed by Deloitte Touche Tohmatsu, Wellington.

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VUW Te Waharoa — NZ Gazette 1996, No 174

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✨ LLM interpretation of page content

🏭 Electricity Corporation Financial Position (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Term Assets, Fixed Assets, Valuation, Electricity Corporation

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