New Zealand Gazette – 1997 – No. 128

Page 3018

✨ Financial Statements



3018 NEW ZEALAND GAZETTE No. 128

TRANSALTA NEW ZEALAND LIMITED

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (continued)

AS AT 31 MARCH 1997

5 CURRENT LIABILITIES (continued)

Credit Facilities The Company has arranged a $100 million committed cash advance facility with a syndicate of three registered banks. The term of the facility is committed for five years and was undrawn at 31 March 1997.

LINE BUSINESS ENERGY BUSINESS
31-Mar-97 31-Mar-96 31-Mar-97 31-Mar-96
$000 $000 $000 $000

6 CURRENT ASSETS

Cash and Bank 35 191 4 37
Investments in Bank Deposits and Government Stock 20,240 5,025 2,124 865
Loans and Advances 171 - 144 -
Accounts Receivable 17,638 14,489 14,854 19,885
Inventories 2,977 3,121 335 352
Prepaid Income Tax 910 6,258 511 1,744
Assets Intended for Sale (a) 19,077 - 288 -
TOTAL CURRENT ASSETS 61,048 29,084 18,260 22,883

(a) This amount reflects the estimated net realisable assessed value of assets of the Company which have been identified as being surplus to its requirements as a result of the merger and accordingly are being held for sale.

LINE BUSINESS ENERGY BUSINESS
31-Mar-97 31-Mar-96 31-Mar-97 31-Mar-96
$000 $000 $000 $000

7 INVESTMENTS AND DEFERRED COSTS

Associate Company Pacific Energy Limited - - 836 1,950
Other Investments - 3 23 1,045
Deferred Costs - - 423 -
TOTAL INVESTMENTS AND DEFERRED COSTS - 3 1,282 2,995

Movement in Investment in Pacific Energy Limited
Balance as at Beginning of Period - - 1,950 443
Amalgamation adjustment - - 446 -
Further Share Capital Invested - - - 250
Share of Surplus/(Deficit) for the Period - - (560) 2,507
Dividend Received - - (1,000) (1,250)
Balance as at End of Period - - 836 1,950

Net assets comprise:

Gross assets - - 36,826 29,600
Gross liabilities - - (33,482) (21,798)
Net assets - - 3,344 7,802
The Company's 25% Share - - 836 1,950

The amount of ($560,000) (1996: $1,950,000) relates to the Company's investment in Pacific Energy Limited, a joint venture company in which the Company has a 25 per cent shareholding. The principal activities of this associate company are the purchasing of electricity on behalf of its customers at the wholesale level, providing value added services at the retail level and investigating potential generation opportunities. The investment is allocated to the Energy business activities of the Company.



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🌾 Financial Statements of TransAlta New Zealand Limited (continued from previous page)

🌾 Primary Industries & Resources
Electricity, Financial Statements, Share Capital, Bonds, Current Liabilities, TransAlta