New Zealand Gazette – 1997 – No. 106

Page 2473

✨ Financial Statements

Wairoa Power Limited - Other Businesses

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1997 continued

4. DIVIDENDS AND BONUS ISSUES

	1997	1996
Proposed distributions:
Proposed dividend	...	...
Proposed employee bonus issue	...	...

5. TERM LIABILITIES

| Local Authority Loans | 600,000 | 600,000 |
| Less Current portion | ... | ... |

| Total Term Liabilities | 600,000 | 600,000 |

Repayable as follows:
| Less than two years | ... | ... |
| Two to five years | 600,000 | 600,000 |
| Beyond five years | ... | ... |

Interest Rates:
| Average interest rate (Local Authority Loans) | 17.75 | 17.75 |

Security:
Whilst secured by pledge of future earnings the Local Authority loans are not specifically secured over any of the Company’s assets.

Interest rate risk:
The interest rate on the local authority loans is 17.75%. This rate is fixed throughout the life of the loan.

Wairoa Power Limited - Other Businesses

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1997 continued

6. ACCOUNTS PAYABLE AND ACCRUALS

	1997	1996
Accounts Payable Trade	131,298	193,080
Accounts Payable Other	...	...
Customer Deposits	55,625	49,083
Accrued Expenses	186,924	242,163

7. FIXED ASSETS

	1997	1996
Freehold Land (at valuation)	96,000	96,000
Freehold Buildings (at valuation)	229,574	226,826
Accumulated Depreciation	(53,407)	(44,525)
	176,167	182,300
Waihi Dam (at cost)	1,043,348	1,043,348
Accumulated Depreciation	(120,059)	(109,625)
	923,289	933,723
Generation equipment (at cost)	784,956	784,956
Accumulated Depreciation	(356,385)	(324,985)
	428,571	459,971
Other Plant and Equipment (at cost)	301,336	258,964
Accumulated Depreciation	(156,085)	(152,144)
	145,251	106,820

| Total Fixed Assets | 1,769,278 | 1,778,814 |

AUGUST

NEW ZEALAND GAZETTE

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VUW Te Waharoa — NZ Gazette 1997, No 106

NZLII — NZ Gazette 1997, No 106

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✨ LLM interpretation of page content

🏭 Wairoa Power Limited Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Dividends, Term Liabilities, Accounts Payable, Fixed Assets

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