New Zealand Gazette – 1998 – No. 122

Page 2940

✨ Financial Statements Continuation



2940 NEW ZEALAND GAZETTE

No. 122

ALPINE ENERGY LIMITED

FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH THE ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 1994

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 1998 (CONTINUED)

  1. ACCOUNTS RECEIVABLE

The balance of Accounts Receivable comprises:

1998 Lines 1998 Other 1997 Lines 1997 Other
Trade Receivables 839 609 401 509
Due by Shareholder District Councils 113 31 226 4
Total 952 640 627 513
  1. ACCOUNTS PAYABLE

The balance of Accounts Payable comprises:

1998 1998 Other 1997 1997 Other
Trade Payables 1,715 105 464 10
Employee Entitlements 201 12 152 9
Total 1,916 117 616 19
  1. GOODWILL

Goodwill relates to the excess balance arising on the issue of shares for the carrying value of net assets transferred from Timaru Electricity and South Canterbury Electric Power Board.

This goodwill is being written off in equal instalments over a five year period commencing 1st April 1994.

  1. FIXED ASSETS
1998 Lines 1998 Other 1997 Lines 1997 Other
DISTRIBUTION SYSTEM
Cost 6,701 - 2,072 -
At Valuation 65,790 - 65,790 -
Capital Work in Progress 3,290 - 1,991 -
Less Accumulated Depreciation (4,596) - (2,293) -
71,185 - 67,560 -

| VEHICLES & PLANT | | | | |
| Cost | 1,125 | 209 | 936 | 161 |
| Less Accumulated Depreciation | (653) | (143) | (171) | (110) |
| | 472 | 66 | 765 | 51 |

Total Fixed Assets: | 71,657 | 66 | 68,325 | 51 |

Valuation of the Network Reticulation System

Valuation of the Network Reticulation System is at net current value on an existing use basis, as at 31 March 1996, and was conducted by Joanna Sofield BMS(Hons) and Govind Saha PhD MBA, Partners of the firm Ernst & Young.



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✨ LLM interpretation of page content

🏭 Alpine Energy Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Electricity, Information Disclosure, Alpine Energy Limited, Accounts Receivable, Accounts Payable, Goodwill, Fixed Assets
  • Joanna Sofield, Conducted valuation of Network Reticulation System
  • Govind Saha, Conducted valuation of Network Reticulation System