New Zealand Gazette – 1998 – No. 139

Page 3366

✨ Financial Statements



3366 No. 139

NEW ZEALAND GAZETTE

NORTHPOWER LIMITED

STATEMENT OF FINANCIAL POSITION - LINE BUSINESS

As at 31 March 1998

1998 $ 1997 $
CORPORATE OWNERSHIP:
Share Capital 32,600,000 32,600,000
Asset Revaluation Reserve 5,250,224 5,533,113
Retained Earnings 14,046,433 13,611,092
TOTAL CORPORATE OWNERSHIP 51,896,657 51,744,205

| CURRENT ASSETS | | |
| Cash and Bank | - | 155,812 |
| Short Term Deposits | 2,300,000 | 6,000,000 |
| Accounts Receivable | 3,328,373 | 3,759,958 |
| Inventory | 1,749,055 | 1,462,061 |
| Tax Refund Due | 1,899,358 | 627,961 |
| Properties for Sale | 80,000 | 662,850 |
| TOTAL CURRENT ASSETS | 9,356,786 | 12,668,642 |

| CURRENT LIABILITIES: | | |
| Bank Overdraft | (151,049) | - |
| Sundry Creditors | (5,529,951) | (6,591,902) |
| GST Owed | (15,350) | (113,381) |
| Provision for Dividend | - | (2,027,700) |
| Employee Entitlements | (1,302,030) | (1,102,132) |
| TOTAL CURRENT LIABILITIES| (6,998,380) | (9,835,115) |

| WORKING CAPITAL | 2,358,406 | 2,833,527 |
| DEFERRED TAXATION | (1,927,725) | (1,807,959) |
| TERM RECEIVABLES | 1,636,654 | 1,837,043 |
| FIXED ASSETS | 49,829,322 | 48,881,594 |
| NET ASSETS | 51,896,657 | 51,744,205 |



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🏭 Certification of Financial Statements for Northpower Ltd (continued from previous page)

🏭 Trade, Customs & Industry
20 August 1998
Electricity, Information Disclosure, Financial Statements, Northpower Ltd