New Zealand Gazette – 1998 – No. 143

Page 3474

✨ Financial Disclosure



3474 NEW ZEALAND GAZETTE No. 143

  1. Fixed assets

Fixed assets assigned to Southpower’s line business are as follows:

1998 Line Business 1997 Line Business
$000’s $000’s
Land (at valuation) 6,926 6,926
Land (at cost) 113 -
7,039 6,926

| Buildings (at valuation)| 12,565 | 12,565 |
| Buildings (at cost) | 518 | - |
| Accumulated depreciation| (357) | - |
| | 12,726 | 12,565 |

| Distribution system (at valuation) | 468,074 | 468,775 |
| Distribution system (at cost) | 13,625 | 1,109 |
| Accumulated depreciation | (17,747)| - |
| | 463,952 | 469,884 |

| Vehicles, furniture and equipment (at valuation) | - | - |
| Vehicles, furniture and equipment (at cost) | - | - |
| Accumulated depreciation | - | - |

| Total fixed assets | 483,717 | 489,375 |

| Capital work in progress included at balance date | 1,759 | 1,109 |

  1. Shareholders’ equity

The mandatory convertible notes have been assigned to the line business, as the line business assets were the primary assets acquired on corporatisation.

The revaluation reserve has been assigned to those businesses which notionally own the revalued assets.

Following these steps, paid up capital and retained earnings have been allocated pro rata amongst the business units.



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🏗️ Southpower Limited Information Disclosure (continued from previous page)

🏗️ Infrastructure & Public Works
Electricity, Financial Disclosure, Southpower Limited, Fixed Assets, Shareholders' Equity, Revaluation Reserve, Paid Up Capital, Retained Earnings