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New Zealand Gazette – 1997 – No. 87

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✨ Financial Statements

NEW ZEALAND GAZETTE

No. 87

HAWKE'S BAY POWER DISTRIBUTION LIMITED AND SUBSIDIARY

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

For The Year Ended 31 March 1997

9 COMMITMENTS & CONTINGENT LIABILITIES

At balance date the Lines Business had entered into contractual commitments of $1,079,960. (1996 $10,000)

Other Business activities have entered into a contractual guarantee with Energy Brokers New Zealand Ltd with a maximum exposure of $8.25m.

Other Business activities have a (potential) maximum contractual obligation of $66,000 by acting as a partial guarantor of Energy Brokers New Zealand Ltd bank overdraft.

There were no other contingent liabilities existing at balance date (1996 $0)

10 FIXED ASSETS

| | At Cost | Accumulated | Net Book |
|--------------------------|----------| Depreciation | Value |
| | $'000 | $'000 | $'000 |

Lines Business 31 March 1997

Distribution System | 89,504 | 39,207 | 50,297 |
Land | 1,010 | - | 1,010 |
Buildings | 10,271 | 1,410 | 8,861 |
Vehicles, Plant & Equipment| 11,847 | 8,967 | 2,880 |
| 112,632 | 49,584 | 63,048 |

Lines Business 31 March 1996

Distribution System | 86,644 | 37,305 | 49,339 |
Land | 1,005 | - | 1,005 |
Buildings | 10,036 | 1,239 | 8,797 |
Vehicles, Plant & Equipment| 11,266 | 7,924 | 3,342 |
| 108,951 | 46,468 | 62,483 |

Other Business
Vehicles, Plant and Equipment

31 March 1997 | 1,064 | 341 | 723 |
31 March 1996 | 448 | 213 | 235 |

The Optimised Deprival Valuation for the Distribution System assets owned by Hawke's Bay Power Distribution Limited as at 31 March 1994, independently carried out in accordance with the Electricity (Information Disclosure) Regulations, accompanying handbook and guidelines was $98,850,000.

The current Government Valuation of land and buildings owned by Hawke's Bay Power Distribution Limited is $9,932,800.

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VUW Te Waharoa — NZ Gazette 1997, No 87

NZLII — NZ Gazette 1997, No 87

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✨ LLM interpretation of page content

🏭 Notes to Financial Statements for Hawke's Bay Power Distribution Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Commitments, Contingent Liabilities, Fixed Assets, Depreciation, Valuation

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