New Zealand Gazette – 1998 – No. 109

Page 2697

✨ Financial Statements



7 AUGUST

NEW ZEALAND GAZETTE

2697

HAWKE’S BAY POWER DISTRIBUTION LIMITED AND SUBSIDIARY

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

For The Year Ended 31 March 1998

4 OPERATING SURPLUS BEFORE TAX

Lines Business Other Business
1998 1997 1998 1997
$000 $000 $000 $000
After Charging:
Depreciation 3,104 3,152 92 92
Interest Expense 304 565 - -
Bad Debts Written Off 122 90 123 123
Change In Provision for Doubtful Debts (1) 33 16 16
Loss On Sale Of Assets 31 11 - -
Operating Lease Costs - - 51 51

| After Crediting: | | | | |
| Interest Revenue | 149 | 305 | 448 | 448 |
| Recovery of debt previously written off as bad| 7 | 8 | 10 | 10 |

5 AUDITORS REMUNERATION

Accounts payable or due and payable to the Auditors for:

Lines Business Other Business
1998 1997 1998 1997
$000 $000 $000 $000
Auditing Financial Statements 19 16 8 8
Other Services 3 3 - -

6 DIRECTORS REMUNERATION

Remuneration Paid To Directors

1998 1997
$000 $000
100 90

7 RECEIVABLES AND PREPAYMENTS

Lines Business Other Business
1998 1997 1998 1997
$000 $000 $000 $000
Trade Debtors 4,473 3,881 6,997 6,997
Provision For Doubtful Debts (104) (105) (124) (124)
4,369 3,776 6,873 6,873
Prepayments 15 46 - -
4,384 3,822 6,873 6,873

8 TERM DEBT

| Due For Repayment: | | | | |
| 1997/98 | - | - | 100 | - |
| 2003 | 1,000 | 1,000 | - | - |

Interest Rates on loans range from 6.0% to 8.25%

All Term Debt is unsecured



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✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
14 July 1998
Financial Statements, Notes, Operating Surplus, Auditors Remuneration, Directors Remuneration, Receivables, Term Debt, Electricity, Hawke's Bay