New Zealand Gazette – 1998 – No. 115

Page 2826

✨ Financial Statements

2826 NEW ZEALAND GAZETTE No. 115

WEL ENERGY GROUP LIMITED

| | Line Business | | Energy Business |
| | 1998 | 1997 | 1998 | 1997 |
| | ($000s) | ($000s) | ($000s) | ($000s) |

4 Shareholders Funds

Capital reserve | 39,903 | 39,903 | 581 | 581 |
Asset revaluation reserve | 82,799 | 63,835 | (24) | 12 |
Retained earnings | 11,523 | 9,419 | 454 | 152 |
Share of associates retained earnings | - | - | (79) | 144 |
Energy trading price reserve | - | - | 1,826 | 1,826 |
| 134,225 | 113,157 | 2,758 | 2,715 |

Asset Revaluation Reserve

Balance at the beginning of the year | 63,835 | 63,835 | 12 | 11 |
Asset revaluations | 18,964 | - | (36) | - |
Balance at the end of the year | 82,799 | 63,835 | (24) | 11 |

Retained Earnings

Balance at the beginning of the year | 9,419 | 6,271 | 152 | 1,257 |
Net surplus after tax of the year | 12,539 | 10,921 | 1,798 | 2,499 |
Dividends | (10,435) | (7,773) | (1,496) | (1,778) |
Transfer to energy trading price reserve | - | - | - | (1,826) |
Balance at the end of the year | 11,523 | 9,419 | 454 | 152 |

Share of Associates Retained Earnings

Balance at the beginning of the year | - | - | 144 | - |
Net surplus after tax | - | - | (223) | 144 |
Balance at the end of the year | - | - | (79) | 144 |

Energy Trading Price Reserve

Balance at the beginning of the year | - | - | 1,826 | - |
Transfer from retained earnings | - | - | - | 1,826 |
Balance at the end of the year | - | - | 1,826 | 1,826 |

5 Current assets

Trade debtors | 5,240 | 4,611 | 4,801 | 4,395 |
Due from parent | 5,974 | 1,332 | 1,975 | 338 |
Other assets | 914 | 1,222 | 183 | - |
Tax recoverable | 969 | 726 | 113 | 131 |
| 13,097 | 7,891 | 7,072 | 4,864 |

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VUW Te Waharoa — NZ Gazette 1998, No 115

NZLII — NZ Gazette 1998, No 115

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Notes to the Financial Statements by WEL Energy Group Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Revenue, Operating Expenditure, Taxation Expense, WEL Energy Group

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