New Zealand Gazette – 1998 – No. 109

Page 2698

✨ Financial Statements Notes



2698 NEW ZEALAND GAZETTE No. 109

HAWKE'S BAY POWER DISTRIBUTION LIMITED AND SUBSIDIARY

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

For The Year Ended 31 March 1998

9 COMMITMENTS & CONTINGENT LIABILITIES

At balance date the Lines Business had entered into contractual commitments of $53,500 (1997 $1,079,960)
Other Business activities have entered into a contractual guarantee with Energy Brokers New Zealand Ltd with a maximum exposure of $8.25m.
Other Business activities have a (potential) maximum contractual obligation of $68,000 by acting as a partial guarantor of Energy Brokers New Zealand Ltd bank overdraft.
There were no other contingent liabilities existing at balance date (1997 $0)

10 FIXED ASSETS

| | At Cost | Accumulated | Net Book |
| | $000 | Depreciation| Value |
| | | $000 | $000 |

Lines Business 31 March 1998

  • Distribution System | 94,923 | 41,447 | 53,476 |
  • Land | 1,011 | 3 | 1,011 |
  • Buildings | 10,473 | 1,576 | 8,897 |
  • Vehicles, Plant & Equipment | 13,878 | 9,824 | 4,054 |
    |----------|-------------|-----------|
    | 120,285 | 52,850 | 67,435 |

Lines Business 31 March 1997

  • Distribution System | 89,504 | 39,207 | 50,297 |
  • Land | 1,010 | - | 1,010 |
  • Buildings | 10,271 | 1,410 | 8,861 |
  • Vehicles, Plant & Equipment | 11,847 | 8,967 | 2,880 |
    |----------|-------------|-----------|
    | 112,632 | 49,584 | 63,048 |

Other Business

  • Vehicles, Metering Equipment, Plant and Equipment

| 31 March 1998 | 1,779 | 620 | 1,159 |
| 31 March 1997 | 1,064 | 341 | 723 |

The Optimised Deprival Valuation for the Distribution System assets owned by Hawke's Bay Power Distribution Limited as at 31 March 1997, independently carried out in accordance with the Electricity (Information Disclosure) Regulations1994, accompanying handbook and guidelines was $103,325,000.

The current Government Valuation of land and buildings owned by Hawke's Bay Power Distribution Limited is $9,932,800.



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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, Commitments, Contingent Liabilities, Fixed Assets, Depreciation, Distribution System, Land, Buildings, Vehicles, Plant & Equipment, Electricity, Hawke's Bay