New Zealand Gazette – 1997 – No. 103

Page 2403

✨ Financial Statements



25 AUGUST NEW ZEALAND GAZETTE 2403

ELECTRICITY ASHBURTON LIMITED - ENERGY AND OTHER BUSINESS ACTIVITIES

STATEMENT OF FINANCIAL PERFORMANCE

FOR THE YEAR ENDED 31 MARCH 1997

Notes 1997 $ 1996 $
REVENUE 1 17,797,556 16,127,822
OPERATING EXPENDITURE 2 16,816,150 15,045,793
DEPRECIATION 123,668 137,702
16,939,818 15,183,495
OPERATING SURPLUS before Rebate 857,738 944,327
Customer Rebates 10 392,748 430,515
OPERATING SURPLUS before Taxation 464,990 513,812
Taxation 3 224,231 226,155
OPERATING SURPLUS after Taxation $240,759 $287,657

STATEMENT OF MOVEMENTS IN EQUITY

FOR THE YEAR ENDED 31 MARCH 1997

1997 $ 1996 $
EQUITY AT THE START OF THE YEAR 671,923 384,266
Operating Surplus after taxation 240,759 287,657
Total Recognised Revenue and Expenses for the Period 240,759 287,657
EQUITY AT THE END OF THE YEAR 912,682 671,923

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 1997

Notes 1997 $ 1996 $
EQUITY:
Authorised Capital:
31,000,000 shares of $1 31,000,000 31,000,000
Issued Capital:
5,800,000 shares of $1 fully paid 5,800,000 5,800,000
Deferred Shares 9 5,558,330 5,558,330
Rebate Shares 241,670 241,670
Share Premium Reserve 775,813 775,813
Retained Earnings 912,682 671,923
TOTAL SHAREHOLDERS' EQUITY $7,488,495 $7,247,736

| REPRESENTED BY: | | | |
| CURRENT ASSETS: | | | |
| Bank and Short Term Deposits | | 2,498,647 | 1,079,925 |
| Taxation Refund | | 7,845 | 0 |
| Inventories | | 844,102 | 867,755 |
| Accounts Receivable | 5 | 2,457,416 | 3,178,067 |
| Total Current Assets | | 5,808,010 | 5,125,747 |

| CURRENT LIABILITIES: | | | |
| Provision for Taxation | | 0 | 8,186 |
| Customer Rebate Payable | 10 | 0 | 484,330 |
| Accounts Payable | 6 | 2,160,843 | 1,768,818 |
| Bank Loan | | 289,506 | 0 |
| Total Current Liabilities | | 2,450,349 | 2,261,334 |

| NET CURRENT ASSETS | | 3,357,861 | 2,864,413 |

| NON CURRENT ASSETS: | | | |
| Investments | | 226,466 | 241,023 |
| Fixed Assets | 4 | 4,289,829 | 4,474,309 |
| Total Non Current Assets | | 4,516,295 | 4,715,332 |

| NON CURRENT LIABILITIES: | | | |
| Deferred Taxation | | 326,901 | 255,051 |
| Industry Loan | | 58,760 | 75,958 |
| Total Non Current Liabilities | | 385,661 | 332,009 |
| TOTAL NET ASSETS | | $7,488,495 | $7,247,736 |

For and on behalf of the Board

CHAIRMAN ....................................................... DIRECTOR

DATE

The accompanying notes form part of these financial statements



Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1997, No 103


NZLII — PDF NZ Gazette 1997, No 103




✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
Electricity, Financial Performance, Equity, Assets, Liabilities, Revenue, Expenditure, Depreciation, Taxation, Rebates