✨ Financial Statements
2268 NEW ZEALAND GAZETTE No. 97
WEL ENERGY GROUP LIMITED
| Line Business | Energy Business | ||
|---|---|---|---|
| 1997 | 1996 | ||
| ($000s) | ($000s) | ||
| -------------------------- | --------------- | -------------------------- | --------------- |
| 1997 | 1996 | ||
| ($000s) | ($000s) |
6 Fixed Assets
Freehold Land and Buildings
Land
-
At cost
- At valuation
Buildings
-
At cost
| | 1,355 | 1,355 | -
| At valuation | 2,493 | 2,716 | 397 | 419
| | 4,645 | 4,818 | 460 | 473
Accumulated depreciation
-
At cost
| | (209) | (168) | -
| At valuation | (246) | (224) | (8) | (12)
Net book value
| | 4,190 | 4,426 | 452 | 461
Vehicles
Cost
| | 457 | 524 | 212 | 229
Accumulated depreciation
| | (291) | (283) | (51) | (115)
Net book value
| | 166 | 241 | 161 | 114
Furniture, Plant and Equipment
Cost
| | 1,868 | 1,715 | 571 | 531
Accumulated depreciation
| | (1,327) | (1,140) | (404) | (350)
Net book value
| | 541 | 575 | 167 | 181
Distribution System
Cost
| | 12,144 | 6,656
Valuation
| | 102,428 | 102,428
Accumulated depreciation
| | 114,572 | 109,084
| At cost | (426) | (150)
| At Valuation | (8,163) | (3,554)
Net book value
| | 105,983 | 105,380
Total net book value
| | 110,880 | 110,622 | 780 | 756
Land and Buildings were revalued on 1 July 1995 by Ford Valuations Limited Registered Valuers. The distribution system was revalued on 1 July 1995 by Worley Consultants Ltd. Buildings at cost represents the amount paid to Hamilton City Council in 1989 for the use of substations buildings. This amount is being depreciated over a period of 33 years.
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VUW Te Waharoa —
NZ Gazette 1997, No 97
NZLII —
NZ Gazette 1997, No 97
✨ LLM interpretation of page content
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Statement of Accounting Policies for WEL Energy Group Limited
(continued from previous page)
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