✨ Financial Statements
9. TERM LOANS
| As at 31 March 1996 | As at 31 March 1995 | ||
|---|---|---|---|
| MONOPOLY BUSINESS (Network) | GENERATION | COMPETITIVE BUSINESS (Energy Trader) | TOTAL BUSINESS | MONOPOLY BUSINESS (Network) | GENERATION | COMPETITIVE BUSINESS (Energy Trader) | TOTAL BUSINESS | |
| $ | $ | $ | $ | $ | $ | $ | $ | |
| Term Debt Facility | 7,800,000 | - | 1,000,000 | 8,800,000 | 8,800,000 | - | 1,000,000 | 9,800,000 |
| Maturity Date | 30 April 1997 |
No security has been issued in respect of Marlborough Electric’s term loans. Interest Rate linked to the 90 Day Bank Bill Rate (National Bank buy rate). The effective rate at 31 March 1996 was 9.38% (1995 9.56%).
10. DIVIDEND PAYMENTS
As at 31 March 1995 the provision for dividend in the Generation business unit totalled $1,200,000. When the dividend was paid to the Company’s shareholders in July 1995, cash flow requirements dictated that the payment be sourced as follows:
| Network Operator | $24,275 |
| Generation business unit | $714,767 |
| Energy Trader | $460,958 |
| Total | $1,200,000 |
The retained earnings balances brought forward for each business were adjusted for these payments.
11. NON CURRENT ASSETS
11.1 Table of Fixed Assets
| 1995/96 | 1994/1995 | ||
|---|---|---|---|
| MONOPOLY BUSINESS (Network) | GENERATION | COMPETITIVE BUSINESS (Energy Trader) | TOTAL BUSINESS | MONOPOLY BUSINESS (Network) | GENERATION | COMPETITIVE BUSINESS (Energy Trader) | TOTAL BUSINESS | |
| $ | $ | $ | $ | $ | $ | $ | $ | |
| Land | - | - | - | - | 477,677 | 40,205 | - | 517,882 |
| Buildings | 477,678 | 67,205 | - | 544,883 | 3,955,163 | 3,799,511 | - | 3,799,511 |
| Less Depreciation | (675,349) | - | - | (675,349) | (721,175) | - | - | (721,175) |
| 3,279,814 | - | - | 3,279,814 | 3,078,336 | - | - | 3,078,336 | |
| Generation Assets | - | 26,093,180 | - | 26,093,180 | - | 26,375,890 | - | 26,375,890 |
| Less Depreciation | - | (8,117,647) | - | (8,117,647) | - | (7,601,056) | - | (7,601,056) |
| - | 17,975,533 | - | 17,975,533 | - | 18,774,834 | - | 18,774,834 | |
| Reticulation System | 19,822,103 | - | - | 19,822,103 | 19,106,728 | - | - | 19,106,728 |
| Less Depreciation | (6,859,113) | - | - | (6,859,113) | (5,869,205) | - | - | (5,869,205) |
| 12,962,990 | - | - | 12,962,990 | 13,237,523 | - | - | 13,237,523 |
NEW ZEALAND GAZETTE
No. 97
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VUW Te Waharoa —
NZ Gazette 1996, No 97
NZLII — 🌐 NZ Gazette 1996, No 97
✨ LLM interpretation of page content
💰
Creditors and Accruals for Monopoly Business, Generation, and Competitive Business
(continued from previous page)
💰 Finance & RevenueTerm Loans, Debt Facility, Interest Rates, Maturity Date
💰 Dividend Payments and Retained Earnings Adjustments
💰 Finance & RevenueDividend, Cash Flow, Retained Earnings, Business Units
💰 Non-Current Assets and Fixed Assets Table
💰 Finance & RevenueFixed Assets, Land, Buildings, Depreciation, Generation Assets, Reticulation System