18 AUGUST

NEW ZEALAND GAZETTE

2199

TAURANGA ELECTRICITY LIMITED

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 1997

SHAREHOLDERS' FUNDS

Share capital
| | 5 | | | 4,803,180 | 4,796,170 | 4,757,666 |
| | | | | 12,296,820 | 12,303,830 | 12,342,334 |

Retained earnings
| | 992,555 | 518,614 | 275,690 | 615,461 | 224,260 | 365,595 |

| | 5,795,735 | 5,314,784 | 5,033,356 | 12,912,281 | 12,528,090 | 12,707,929 |

TERM LIABILITY

| 6 | 3,200,000 | 2,700,000 | 2,612,052 | - | - | 187,948 |

CURRENT LIABILITIES

Cash and Bank
| | - | 318,980 | - | - | 19,795 | -

Accounts payable and accruals
| | 700,302 | 490,995 | 1,392,055 | 285,170 | 588,649 | 120,650 |

Provision for tax
| | 113,683 | - | - | 166,233 | - | -

Provision for dividend
| | - | 14,324 | 30,196 | - | 147,907 | 202,173 |

Current portion of term liability
| | 200,000 | 300,000 | 373,150 | - | - | 26,850 |

| | 1,013,985 | 1,124,299 | 1,795,401 | 451,403 | 756,351 | 349,673 |

TOTAL CORPORATE OWNERSHIP AND LIABILITIES

| | $10,009,720 | $9,139,083 | $9,440,809 | $13,363,684 | $13,284,441 | $13,245,550 |

FIXED ASSETS

| 7 | 8,122,763 | 7,970,123 | 7,572,505 | 501,967 | 504,894 | 544,874 |

INVESTMENT

| 8 | 28,254 | 28,247 | - | 11,825,568 | 11,734,917 | 11,636,114 |

FUTURE TAXATION BENEFIT

| | 9,390 | 7,201 | 54,202 | 580 | 456 | 3,900 |

CURRENT ASSETS

Cash and Bank
| | 343,732 | - | 194,735 | 296,500 | 15,188 | 30,269 |

Accounts receivable & prepayments
| | 1,384,565 | 880,870 | 1,280,043 | 465,847 | 501,249 | 451,463 |

Taxation refund
| | - | 97,347 | 8,770 | - | 25,155 | 1,796 |

Inventories
| | 121,016 | 155,295 | 330,554 | 273,222 | 372,582 | 267,134 |

Short term deposits
| | - | - | - | - | 130,000 | 310,000 |

| | 1,849,313 | 1,133,512 | 1,814,102 | 1,035,569 | 1,044,174 | 1,060,662 |

TOTAL ASSETS

| | $10,009,720 | $9,139,083 | $9,440,809 | $13,363,684 | $13,284,441 | $13,245,550 |

The accompanying Statement of Accounting Policies and Notes form part of and are to be read in conjunction with these Financial Statements. The Financial Statements have been prepared solely for the purpose of complying with Regulations 6[2] and 6[3] of the Electricity [Information Disclosure] Regulations 1994 and are not intended for any other purpose. [A.DR97]