New Zealand Gazette – 1997 – No. 180

Page 4312

✨ Financial Statements Notes

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 180

NZLII — NZ Gazette 1997, No 180

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✨ LLM interpretation of page content

🏭 Asset Revaluation Reserve Notes

Domain🏭 Trade, Customs & Industry
KeywordsAsset Revaluation, Financial Statements, Reserve, Taxation

🏭 Term Advances Facility Details

Domain🏭 Trade, Customs & Industry
KeywordsTerm Advances, Wholesale Facility, Westpac Banking, Financial Statements

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