New Zealand Gazette – 1997 – No. 98

Page 2287

✨ Financial Statements

20 AUGUST NEW ZEALAND GAZETTE 2287

TASMAN ENERGY LIMITED

LINE & OTHER BUSINESSES FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS

	Line Business		Other Business
	1997	1996	1997	1996
	$000	$000	$000	$000

7. RESERVES

Asset Revaluation Reserve
49,749 | 0 | 0 | 0

Share Premium Reserve
1,938 | 1,938 | 0 | 0

              | 51,687      | 1,938    | 0              | 0

The electricity distribution system assets have been revalued as at 31 March 1997 to a carrying value which equates to 80% of Optimised Deprival Value (ODV). The 31 March 1997 ODV valuation and a carrying value opinion were prepared by Catherall Taylor Associates. The valuation report is dated 23 April 1997. The valuation was undertaken in accordance with the methodology detailed in Handbook for Optimised Deprival Valuation of Electricity Lines Businesses authorised by the Ministry of Commerce (Energy Policy Group) dated 23 June 1994.

The share premium reserve was created on 1 May 1993, recognising the difference between the share capital issued and the closing value of corporate ownership of the Tasman Electric Power Board at 30 April 1993.

8. ACCOUNTS RECEIVABLE

Trade debtors
3,447 | 3,073 | 4,636 | 4,470

Less doubtful debts
43 | 34 | 152 | 143

              | 3,404      | 3,039    | 4,484          | 4,327

Hire purchase debtors
0 | 0 | 1,013 | 1,555

Prepayments
43 | 46 | 55 | 99

Tax refund due
120 | (375) | 443 | 388

              | 3,567      | 2,710    | 5,995          | 6,369

9. CREDITORS AND ACCRUALS

Trade creditors
2,568 | 1,604 | 3,950 | 4,837

Trans Power payments withheld
2,685 | 1,295 | 0 | 0

Leave provisions
473 | 592 | 556 | 754

Restructuring provisions
177 | 0 | 136 | 123

Interest restructuring provisions
134 | 268 | 0 | 0

Sales discount provision
0 | 0 | 2,144 | 0

Dividend provision
100 | 100 | 0 | 0

Sundry provisions
55 | 43 | 266 | 383

              | 8,934      | 6,046    | 4,908          | 6,097

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VUW Te Waharoa — NZ Gazette 1997, No 98

NZLII — NZ Gazette 1997, No 98

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✨ LLM interpretation of page content

🏭 Specific Accounting Policies for Other Business (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Line Business, Other Business, Operating Revenue, Taxation, Dividends, Share Capital

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