New Zealand Gazette – 1997 – No. 118

Page 2803

✨ Financial Statements

8 SEPTEMBER NEW ZEALAND GAZETTE 2803

9 FIXED ASSETS

Network Business Unit	1997
	At cost	At Valuation	Accum. Dep’n	Net Carrying
	($000)	($000)	($000)	Value ($000)
Freehold Land	341	-	-	341
Freehold Buildings	4,666	-	765	3,901
Distribution System	-	527,406	133	527,273
Plant, Vehicles and Equipment	13,209	-	9,007	4,202
Capital Work in Progress	13,401	-	-	13,401

FIXED ASSETS | 31,617| 527,406 | 9,905 | 549,118 |

Network Business Unit	1996
	At cost	At Valuation	Accum. Dep’n	Net Carrying
	($000)	($000)	($000)	Value ($000)
Freehold Land	160	-	-	160
Freehold Buildings	4,578	-	652	3,926
Distribution System	-	524,195	-	524,195
Plant, Vehicles and Equipment	10,700	-	5,971	4,729
Capital Work in Progress	5,014	-	-	5,014

FIXED ASSETS | 20,452| 524,195 | 6,623 | 538,024 |

Energy Business Unit	1997
	At cost	At Valuation	Accum. Dep’n	Net Carrying
	($000)	($000)	($000)	Value ($000)
Freehold Land	47	-	-	47
Freehold Buildings	322	-	74	248
Plant, Vehicles and Equipment	1,463	-	718	745
Capital Work in Progress	40	-	-	40

FIXED ASSETS | 1,872 | - | 792 | 1,080 |

Energy Business Unit	1996
	At cost	At Valuation	Accum. Dep’n	Net Carrying
	($000)	($000)	($000)	Value ($000)
Freehold Land	47	-	-	47
Freehold Buildings	313	-	64	249
Plant, Vehicles and Equipment	910	-	489	421
Capital Work in Progress	109	-	-	109

FIXED ASSETS | 1,379 | - | 553 | 826 |

In respect of the valuation, there is a deferred tax liability for tax depreciation recovered, amounting to approximately $18 million (1996: $26 million), which would crystallise if all the revalued assets were disposed of for their carrying value.

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VUW Te Waharoa — NZ Gazette 1997, No 118

NZLII — NZ Gazette 1997, No 118

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

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💰 Notes to and Forming Part of the Financial Statements (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Fixed Assets, Valuation, Depreciation, Net Carrying Value

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