Financial Statements




KING COUNTRY ENERGY LIMITED AND SUBSIDIARY

NOTES TO THE ANNUAL FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH

THE ELECTRICITY INFORMATION DISCLOSURE REGULATIONS 1994

FOR THE YEAR ENDED 31 MARCH 1998

Note Lines Business 1997/1998 Energy Business 1997/1998 Generation Business 1997/1998 Lines Business 1996/1997 Energy Business 1996/1997 Lines Business 1995/1996 Energy Business 1995/1996

2. REVENUE

Sales Revenue
7,456,716 | 12,628,964 | 2,732,162 | 6,828,647 | 11,844,997 | 6,631,790 | 11,472,244

Interest Received
215,514 | 97,329 | 4,873 | 193,133 | 158,658 | 224,566 | 126,319

Capital Contributions from Customers
196,596 | - | - | 135,147 | - | 192,124 | -

Other Income
22,196 | 143,503 | - | 535,334 | 171,575 | 479,054 | 136,329

Total Revenue
7,891,022 | 12,869,796 | 2,737,035 | 7,692,261 | 12,175,230 | 7,527,534 | 11,734,892

3. EXPENSES

Included in Operating Expense are the following items:

Transpower Charges
2,018,172 | - | - | 2,216,938 | - | 2,070,729 | -

Line Charges and Bulk Electricity Purchases

  • | 13,840,814 | - | - | 11,187,803 | - | 10,756,284

Depreciation
898,875 | 25,737 | 404,807 | 845,660 | 95,464 | 852,486 | 82,257

Bad Debts Written Off
30,989 | 23,198 | - | 13,006 | 10,694 | 14,923 | 20,034

Interest Paid

  • | - | 539,992 | - | - | - | (8,800)

Audit Fees
14,725 | 7,360 | 2,455 | 14,310 | 9,540 | 6,585 | 4,388

Other Fees paid to Auditors
4,325 | 2,165 | 720 | (406) | (271) | 17,355 | 11,572

Directors’ Fees
66,060 | 12,388 | 5,380 | 65,200 | 16,300 | 64,000 | 16,000

Loss on Sale of Fixed Assets

  • | - | - | 24,253 | - | - | -

THE NEW ZEALAND GAZETTE

No. 123



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🏭 King Country Energy Limited Financial Performance (continued from previous page)

🏭 Trade, Customs & Industry
Revenue, Expenses, Sales, Interest, Depreciation, Audit Fees, Directors Fees