New Zealand Gazette – 1998 – No. 133

Page 3245

✨ Financial Statements



4 SEPTEMBER NEW ZEALAND GAZETTE 3245

ELECTRICITY ASHBURTON LIMITED - ENERGY AND OTHER BUSINESS ACTIVITIES
STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEAR ENDED 31 MARCH 1998

Notes 1998 $ 1997 $
REVENUE 1 20,008,468 17,797,556
OPERATING EXPENDITURE 2 19,420,858 16,816,150
DEPRECIATION 162,122 123,668
19,582,980 16,939,818
OPERATING SURPLUS before Rebate 425,488 857,738
Customer Rebates 10 175,064 392,748
OPERATING SURPLUS before Taxation 250,424 464,990
Taxation 3 101,866 224,231
OPERATING SURPLUS after Taxation $148,558 $240,759

STATEMENT OF MOVEMENTS IN EQUITY
FOR THE YEAR ENDED 31 MARCH 1998

| | | 1998 $ | 1997 $ |
| :--- | | :---: | :---: |
| EQUITY AT THE START OF THE YEAR | | 912,682 | 671,923 |
| Operating Surplus after taxation | | 148,558 | 240,759 |
| Total Recognised Revenue and Expenses for the Period | | 148,558 | 240,759 |
| EQUITY AT THE END OF THE YEAR | | $1,061,240 | $912,682 |

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 1998

Notes 1998 $ 1997 $
EQUITY :
Authorised Capital :
31,000,000 shares of $1 31,000,000 31,000,000
Issued Capital :
5,800,000 shares of $1 fully paid 9 5,558,330 5,558,330
Deferred Shares 241,670 241,670
Rebate Shares 775,813 775,813
Share Premium Reserve 1,061,240 912,682
Retained Earnings $7,637,053 $7,488,495
TOTAL SHAREHOLDERS' EQUITY
REPRESENTED BY :
CURRENT ASSETS :
Bank and Short Term Deposits 2,425,468 2,331,131
Taxation Refund 0 7,845
Inventories 718,083 844,102
Accounts Receivable 5 3,244,223 2,457,416
Total Current Assets: 6,387,774 5,640,494
CURRENT LIABILITIES :
Provision for Taxation 180,624 0
Accounts Payable 6 3,404,326 2,160,643
Bank Loan 0 289,506
Total Current Liabilities 3,584,950 2,450,149
NET CURRENT ASSETS 2,802,824 3,190,345
NON CURRENT ASSETS :
Investments 106,298 226,466
Goodwill 60,000 0
Fixed Assets 4 4,788,570 4,289,829
Total Non Current Assets 4,954,868 4,516,295
NON CURRENT LIABILITIES :
Deferred Taxation 77,485 159,385
Industry Loan 43,154 58,760
Total Non Current Liabilities 120,639 218,145
TOTAL NET ASSETS $7,637,053 $7,488,495

For and on behalf of the Board

CHAIRMAN (Signed)

DIRECTOR (Signed)

DATE 10 August 1998

The accompanying notes form part of these financial statements



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🏭 Electricity Information Disclosure for Ashburton Limited (continued from previous page)

🏭 Trade, Customs & Industry
10 August 1998
Electricity, Financial Statements, Audit, Ashburton Limited, Accounting Policies
  • CHAIRMAN
  • DIRECTOR