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New Zealand Gazette – 1998 – No. 109

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✨ Financial Statements

7 AUGUST

NEW ZEALAND GAZETTE

2693

HAWKE’S BAY POWER DISTRIBUTION LIMITED AND SUBSIDIARY

STATEMENT OF FINANCIAL POSITION

As at 31 March 1998

	Notes	Lines Business		Other Business
		1998	1997	1998	1997
		$000	$000	$000	$000

EQUITY

Share Capital | | 58,000 | 58,000 | 6,000 | 6,000 |
Share Premium Reserve| | 2,661 | 2,661 | - | - |
Retained Earnings | | (1,917) | (851) | 8,309 | 5,694 |
| | | | | |
| Total Equity | | 58,744 | 59,810 | 14,309 | 11,694 |

Represented by:

NON CURRENT ASSETS

Fixed Assets | 10 | 66,276 | 63,048 | 1,159 | 723 |
Deferred Taxation Benefits | 3 | - | - | 13 | 13 |
Inter Company Advance | | - | - | 3,000 | 3,000 |
Taxation Refund Due | | 103 | - | - | - |
Investment In Associate | | - | - | 260 | 131 |
Other Investments | | - | - | 34 | 41 |
| | 66,379 | 63,051 | 4,466 | 3,908 |

CURRENT ASSETS

Cash | | (3,675) | (78) | 7,829 | 4,197 |
Receivables and Prepayments | 7 | 4,384 | 3,822 | 5,201 | 6,873 |
Inventories | | 1,101 | 1,790 | 1,326 | 1,131 |
Work in Progress | | 164 | 246 | 10 | - |
| | 1,974 | 5,780 | 14,366 | 12,201 |

| TOTAL ASSETS | | 68,353 | 68,831 | 18,832 | 16,109 |

NON CURRENT LIABILITIES

Term Debt | 8 | 1,000 | 1,000 | - | - |
Inter Company Advance | | 3,000 | 3,000 | - | - |
Deferred Taxation Liabilities | 3 | 1,732 | 1,151 | - | - |
| | 5,732 | 5,151 | - | - |

CURRENT LIABILITIES

Accounts Payable and Accruals | | 3,134 | 2,516 | 4,206 | 4,012 |
Taxation Payable | 3 | - | 597 | 228 | 326 |
Current Portion of Term Debt | 8 | - | 100 | - | - |
Accrued Leave | | 743 | 657 | 89 | 77 |
| | 3,877 | 3,870 | 4,523 | 4,415 |

| TOTAL LIABILITIES | | 9,609 | 9,021 | 4,523 | 4,415 |

NET ASSETS EMPLOYED

                            |       | 58,744         | 59,810   | 14,309          | 11,694   |

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.

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VUW Te Waharoa — NZ Gazette 1998, No 109

NZLII — NZ Gazette 1998, No 109

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Audit Certification of Hawke’s Bay Power Distribution Limited Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated14 July 1998
KeywordsAudit, Financial Statements, Certification, Electricity, Regulations, Hawke’s Bay

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