✨ Financial Statements
17 AUGUST NEW ZEALAND GAZETTE 2827
WEL ENERGY GROUP LIMITED
6 Fixed Assets
Freehold Land and Buildings
Land At cost - - - -
At valuation 754 797 54 63
Buildings At cost 1,355 1,355 - -
At valuation 2,252 2,493 340 397
4,361 4,645 394 460
Accumulated depreciation
At cost (250) (209) - -
At valuation (200) (246) 13 (8)
Net book value 3,911 4,190 407 452
Vehicles
Cost 395 457 188 212
Accumulated depreciation (339) (291) (22) (51)
Net book value 56 166 166 161
Furniture, Plant and Equipment
Cost 2,142 1,868 673 571
Accumulated depreciation (1,485) (1,327) (443) (404)
Net book value 657 541 230 167
Distribution System
Cost 1,930 12,144
Valuation 127,380 102,428
129,310 114,572
Accumulated depreciation
At cost - (426)
At Valuation - (8,163)
Net book value 129,310 105,983
Total net book value 133,934 110,880 803 780
Land and Buildings were revalued on 31 March 1998 by Ford Valuations Limited Registered Valuers.
The distribution system was revalued on 31 March 1998 by Sinclair Knight Merz (NZ) Limited (trading as Leyland Consultants). The effect of revaluing the distribution system has been to increase its estimated remaining life from 22.5 years to 33 years.
Buildings at cost represents the amount paid to Hamilton City Council in 1989 for the use of substations buildings. This amount is being depreciated over a period of 33 years.
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VUW Te Waharoa —
NZ Gazette 1998, No 115
NZLII —
NZ Gazette 1998, No 115
✨ LLM interpretation of page content
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Notes to the Financial Statements by WEL Energy Group Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Fixed Assets, Land, Buildings, Vehicles, Furniture, Plant and Equipment, Distribution System, Valuation, Depreciation, WEL Energy Group