New Zealand Gazette – 1997 – No. 141

Page 3268

✨ Financial Statements



MARLBOROUGH ELECTRIC LIMITED
FINANCIAL STATEMENTS PREPARED IN ACCORD WITH THE
ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 1994

STATEMENT OF FINANCIAL POSITION

Network Operations As at 31 March 1997
Generation Business
Energy Trading and Other
$ $

AS AT 31 MARCH 1997

CURRENT ASSETS

NOTES
Cash and Bank Balances (448,914) 1,027,230
Accounts Receivable 7 549,936
Inventories 8 1,107,298

TOTAL CURRENT ASSETS | | 1,208,320 | 1,027,135 | 5,188,198 |

CURRENT LIABILITIES

| | | |
| Creditors and Accruals | 9 | 1,677,070 | (364,283) | 1,593,702 |
| Provision for Tax | | 91,975 | (71,875) | 25,057 |
| Provision for Dividend | 9 | 172,993 | 697,459 | 699,548 |
| Customer Deposits | | | 206,265 |

TOTAL CURRENT LIABILITIES | | 1,942,038 | 261,301 | 2,524,572 |

WORKING CAPITAL | | (733,718) | 765,834 | 2,663,626 |

NON CURRENT ASSETS

| Fixed Assets | 12 | 16,900,480 | 20,524,659 | 642,857 | 17,309,121 | 18,580,425 | 692,766 |
| Interdivisional Loans | | 1,000,000 |

TOTAL NON CURRENT ASSETS | | 16,900,480 | 21,524,659 | 1,642,857 |

NON CURRENT LIABILITIES

| Interdivisional Loans | | 2,000,000 | 1,000,000 | 500,000 | 7,800,000 | 1,000,000 |
| Term Debt | 10 | 1,300,000 |

TOTAL NON CURRENT LIABILITIES | | 3,300,000 | 1,000,000 | 500,000 | 7,800,000 | 1,000,000 |

NET ASSETS | | 12,866,762 | 21,290,493 | 3,806,483 | 10,482,323 | 20,282,529 | 3,721,843 |

REPRESENTED BY SHAREHOLDERS EQUITY

| Issued & Paid up Capital | 6 | 8,736,142 | 16,047,638 | 3,216,220 | 8,736,142 | 16,047,638 | 3,216,220 |
| Share Premium Reserve | | | 1,025,894 |
| Retained Earnings | | 4,130,620 | 4,216,961 | 590,263 | 1,746,181 | 3,208,997 | 505,623 |

TOTAL SHAREHOLDERS EQUITY | | 12,866,762 | 21,290,493 | 3,806,483 | 10,482,323 | 20,282,529 | 3,721,843 |

As at 31 March 1996

| | Network Operations | Generation Business | Energy Trading and Other |
| | $ | $ | $ |

CURRENT ASSETS

| Cash and Bank Balances | 627,104 | 2,251,903 | 2,965,109 |
| Accounts Receivable | 598,227 | 5,513 | 2,552,880 |
| Inventories | 1,049,007 | | 618,974 |

TOTAL CURRENT ASSETS | 2,274,338 | 2,257,416 | 6,136,963 |

CURRENT LIABILITIES

| Creditors and Accruals | 1,210,982 | (248,951) | 1,349,777 |
| Provision for Tax | (2,825) | 2,975 | (9,459) |
| Provision for Dividend | 92,979 | 801,288 | 530,733 |
| Customer Deposits | | | 236,835 |

TOTAL CURRENT LIABILITIES | 1,301,136 | 555,312 | 2,107,886 |

WORKING CAPITAL | 973,202 | 1,702,104 | 4,029,077 |

NON CURRENT ASSETS

| Fixed Assets | 17,309,121 | 18,580,425 | 692,766 |
| Interdivisional Loans | 1,000,000 |

TOTAL NON CURRENT ASSETS | 17,309,121 | 18,580,425 | 692,766 |

NON CURRENT LIABILITIES

| Interdivisional Loans | 7,800,000 | 1,000,000 |
| Term Debt |

TOTAL NON CURRENT LIABILITIES | 7,800,000 | 1,000,000 |

NET ASSETS | 10,482,323 | 20,282,529 | 3,721,843 |

REPRESENTED BY SHAREHOLDERS EQUITY

| Issued & Paid up Capital | 8,736,142 | 16,047,638 | 3,216,220 |
| Share Premium Reserve | | 1,025,894 |
| Retained Earnings | 1,746,181 | 3,208,997 | 505,623 |

TOTAL SHAREHOLDERS EQUITY | 10,482,323 | 20,282,529 | 3,721,843 |

The accompanying notes form an integral part of these financial statements.

NEW ZEALAND GAZETTE

No. 141



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