✨ Financial Statements




NEW ZEALAND GAZETTE

11 AUGUST

2715

CENTRALPOWER GROUP

Line Business and Electricity Retailing

Notes to and forming part of the Financial Statements (cont.)

For the Year Ended 31 March 1998

  1. Surplus Before Taxation for the Year

Has been determined:

Line Business $000 Electricity Retailing $000
After charging:
Audit fees and expenses 78 2
Other fees paid to auditors 81 89
Depreciation 4,420 1150
Directors' fees 161 14
Interest 2,779 164
Rental and leasing costs - 18
Bad debts written off (net) 3 239
Changes in the provision for doubtful debts 5 1
Other merger proposal expenses - 113
Wind farm expenses - 94
Foreign exchange loss - 13
Diminution of fixed assets - 148

| After crediting: | | |
| Interest | 601 | 51 |
| Rental income | - | 25 |
| Sundry income | 59 | 475 |
| Gain/(Loss) on sale of fixed assets | 59 | 263 |
| Customer contributions | 968 | - |

  1. Taxation

Taxation has been prorated between Line and Electricity Retailing businesses using net profit before taxation as the allocation basis.

  1. Receivables
Line Business $000 Electricity Retailing $000
Trade receivables 1,228 5,646
Non-trade receivables - 121
Provision for Doubtful Debts (45) (45)
1,183 5,722


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🏭 Financial Statements for CentralPower Group (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Financial Statements, Line Business, Retailing, CentralPower Group