NEW ZEALAND GAZETTE

No. 127

SCANPOWER LIMITED

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 1998

SHAREHOLDERS FUNDS

Retained Earnings & Reserves | 3 | 7,823,921 | 7,482,156 | 871,900 | 1,213,759 |
TOTAL SHAREHOLDERS FUNDS | | 7,823,921 | 7,482,156 | 871,900 | 1,213,759 |

CURRENT ASSETS

Bank and Cash on Hand | | 25 | 44,660 | 17 | 47,608 |
Short Term Investments | 6 | 1,374,432 | 1,367,183 | 915,274 | 882,817 |
Tax Provision | | 7,733 | 0 | 5,150 | 0 |
Accounts Receivable | 4 | 14,695 | 12,294 | 370,435 | 483,980 |
Prepayments and Accruals | | 186,992 | 31,024 | 158,622 | 303,325 |
Inventories | 5 | 105,146 | 80,395 | 352,285 | 395,712 |
Total Current Assets | | 1,689,024 | 1,535,556 | 1,801,782 | 2,113,442 |

NON CURRENT ASSETS

Investments | 6 | 0 | 0 | 1,500 | 1,500 |
Fixed Assets | 7 | 6,617,092 | 6,435,989 | 88,151 | 86,674 |
Capital Work In Progress | | 0 | 12,266 | 0 | 0 |
Total Non Current Assets | | 6,617,092 | 6,448,255 | 89,651 | 88,174 |
TOTAL ASSETS | | 8,306,116 | 7,983,811 | 1,891,433 | 2,201,616 |

CURRENT LIABILITIES

Accounts Payable | 8 | 181,173 | 169,161 | 912,814 | 762,740 |
Proposed Dividend | | 15,000 | 15,000 | 15,000 | 15,000 |
Employee Entitlements | | 215,271 | 221,622 | 61,187 | 63,298 |
Current Portion of Term Liability| 9| 24,900 | 0 | 0 | 0 |
Tax Provision | | 0 | 56,092 | 0 | 116,036 |
TOTAL CURRENT LIABILITIES | | 436,345 | 461,875 | 989,001 | 957,074 |

NON CURRENT LIABILITIES

Term Loans | 9 | 0 | 24,900 | 0 | 0 |
Deferred Taxation | | 45,850 | 14,880 | 30,533 | 30,783 |
Total Non - Current Liabilities| | 45,850 | 39,780 | 30,533 | 30,783 |
TOTAL LIABILITIES | | 482,195 | 501,655 | 1,019,533 | 987,857 |
NET ASSETS | | 7,823,921 | 7,482,156 | 871,900 | 1,213,759 |

For and behalf of the Board

![Signature of Chairman]

CHAIRMAN

![Signature of General Manager]

GENERAL MANAGER

The accompanying notes form an integral part of these financial statements