✨ Financial Statements




NEW ZEALAND GAZETTE

11 SEPTEMBER

Wairarapa Electricity Limited and Subsidiary Companies

Notes to the Financial Statements

10) Fixed Assets

Fixed assets with their costs and accumulated depreciation are:

Line Business Energy and Other Business Line Business Energy and Other Business
1998
000's 1998
000's 1997
000's 1997
000's

Freehold land and improvements

  • at Cost | 70 | 43 | 107 | 6 |
  • at Directors' Valuation | - | 738 | - | 2,058 |

| | 70 | 781 | 107 | 2,064 |

Buildings

  • at Cost | 354 | 218 | 742 | 50 |
  • at Directors' Valuation | - | 307 | - | 791 |
    less Accumulated Depreciation | (163) | (116) | (367) | (27) |

| | 191 | 409 | 375 | 814 |

Distribution System

  • at Cost | 324 | - | 86 | - |
  • at Independent Valuation | 64,278 | - | 60,117 | - |

| | 64,602 | - | 60,203 | - |

Generation Work in Progress

| | - | 8,393 | - | 8,392 |
less Accumulated Depreciation | - | (1,001) | - | (594) |

| | - | 7,392 | - | 7,798 |

Plant and Equipment

| | 1,499 | 479 | 1,392 | 481 |
less Accumulated Depreciation | (1,142) | (304) | (1,030) | (277) |

| | 357 | 175 | 362 | 204 |

Motor Vehicles

| | 228 | 1,759 | 231 | 1,434 |
less Accumulated Depreciation | (167) | (899) | (163) | (756) |

| | 61 | 860 | 68 | 678 |

Capital Work in Progress

| | 33 | - | 73 | - |

Total Fixed Assets

| | 65,314 | 9,617 | 61,188 | 11,558 |



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