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New Zealand Gazette – 1997 – No. 113

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✨ Financial Statements

NEW ZEALAND GAZETTE

1 SEPTEMBER

2651

(n) Changes in Accounting Policies

There were no significant changes in Accounting Policies.

	1997			1996
	Total	Line	Energy	Total	Line	Energy
	$'000	$'000	$'000	$'000	$'000	$'000

2. CONTINUING AND DISCONTINUED ACTIVITIES

Continuing Activities -
Operating revenue | 29,773 | 15,196 | 14,577 | 29,796 | 15,543 | 14,253 |
Operating surplus/(deficit) | 2,441 | 1,874 | 567 | 2,322 | 2,207 | 115 |

Discontinued Activities -
Operating revenue | 0 | 0 | 0 | 19 | 0 | 19 |
Operating surplus/(deficit) | 0 | 0 | 0 | (14) | 0 | (14) |

Totals -
Operating revenue | 29,773 | 15,196 | 14,577 | 29,815 | 15,543 | 14,272 |
Operating surplus/(deficit) | 2,441 | 1,874 | 567 | 2,308 | 2,207 | 101 |

3. REVENUE

Appliance sales and servicing | 1,172 | 0 | 1,172 | 1,118 | 0 | 1,118 |
Sales of electricity | 27,033 | 14,792 | 12,241 | 26,984 | 15,103 | 11,881 |
Other miscellaneous income | 1,569 | 405 | 1,164 | 1,713 | 440 | 1,273 |
Total Revenue | 29,773 | 15,197 | 14,577 | 29,815 | 15,543 | 14,272 |

4. NET SURPLUS BEFORE TAXATION

Is stated after taking into account the following:

Income from:
Interest received | 354 | 328 | 26 | 331 | 312 | 29 |

Charges in respect of:
Audit fees | 24 | 19 | 5 | 0 | 0 | 0 |
Audit fees - Information Disclosure | 4 | 3 | 1 | 28 | 20 | 8 |
Audit NZ - Consultancies | 4 | 0 | 4 | 0 | 0 | 0 |
Bad Debts | 79 | 43 | 36 | 0 | 0 | 0 |
Depreciation | 1,512 | 1,412 | 100 | 1,435 | 1,311 | 124 |
Directors' fees | 85 | 67 | 18 | 70 | 51 | 19 |
Finance Charges on Finance Leases | 6 | 3 | 3 | 0 | 0 | 0 |
Interest on borrowings | 1 | 1 | 0 | 133 | 133 | 0 |
Rental and operating lease costs | 70 | 55 | 15 | 104 | 75 | 29 |
Research and development | 130 | 0 | 130 | 151 | 0 | 151 |

NB: The 1996 "Expenses" figures for 1996 published last year were incorrectly recorded as Line (-13,249) and Energy (-14,258). The figures shown as comparatives in these financial statements are the correct ones.

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VUW Te Waharoa — NZ Gazette 1997, No 113

NZLII — NZ Gazette 1997, No 113

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✨ LLM interpretation of page content

🏭 Financial Statements for Eastland Energy Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated8 August 1997
KeywordsFinancial Statements, Electricity, Information Disclosure, Eastland Energy, Accounting Policies, Revenue Recognition, Fixed Assets, Capital Expenditure, Depreciation, Investments, Current Assets, Taxation, Leases, Research and Development, Foreign Currencies

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