New Zealand Gazette – 1997 – No. 120

Page 2848

✨ Financial Statements Notes

2848 NEW ZEALAND GAZETTE No. 120

Notes to and Forming Part of the Financial Statements

For the Year Ended 31 March 1997

4 ASSET REVALUATION RESERVE

	1997	1996
	$000	$000
Balance as at 31 March 1996	-	-
Asset revaluation	84,533	-
less Deferred taxation on asset revaluation	(16,123)	-
Balance as at 31 March 1997	$68,410	-

5 TERM ADVANCES FACILITY

The company has established a Wholesale Term Advances Facility with the Westpac Banking Corporation of up to $25 million dollars. At 31 March 1997 the amount drawn down from this facility amounted to $4.545 million. Interest is charged to the company according to the daily wholesale lending rate. The facility is based on a revolving credit and as such does not have set repayment dates.

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VUW Te Waharoa — NZ Gazette 1997, No 120

NZLII — NZ Gazette 1997, No 120

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Powerco Limited Statement of Movements in Equity (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated31 March 1997
KeywordsFinancial Statements, Asset Revaluation Reserve, Term Advances Facility, Westpac Banking Corporation

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