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New Zealand Gazette – 1998 – No. 146

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✨ Financial Statements

NEW ZEALAND GAZETTE

No. 146

TRUSTPOWER LIMITED AND SUBSIDIARIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1998

NOTE 11 : FIXED ASSETS

	LINE BUSINESS $'000	ENERGY BUSINESS $'000	GENERATION BUSINESS $'000
Freehold land (at valuation)	1,370	228	680
Freehold buildings (at valuation)	4,091	725	149
Accumulated depreciation	-	-	-
	4,091	725	149
Generation assets (at valuation)	-	-	143,573
Accumulated depreciation	-	-	-
	-	-	143,573
Reticulation network (at valuation)	226,869	-	-
Accumulated depreciation	7,382	-	-
	219,487	-	-
Motor vehicles (at cost)	4,224	294	91
Accumulated depreciation	2,649	117	60
	1,575	177	31
Plant and equipment (at cost)	8,826	3,529	2,005
Accumulated depreciation	5,552	2,329	317
	3,274	1,200	1,688
Total fixed assets	229,797	2,330	146,121

Generation assets include land and buildings which are not separately identifiable from other generation assets. Reticulation network includes land and buildings specifically used for substations.

Freehold land and buildings and generation assets have been revalued as at 31 March 1998 to their estimated market value as at that date. The freehold land and buildings valuations were completed by Hills Weller, Burke & Harris and Ventch Morrison Valuers Limited, independent registered valuers. This resulted in an increase in value of land and buildings, including those recorded as reticulation network of $3,864,000. The generation asset valuations were completed by ANZ Securities as at 31 March 1998 and resulted in an increase in value of $14,414,000.

Reticulation network assets have been revalued as at 31 March 1997 to their optimised deprival value as at that date. The optimised deprival value was completed by Worley Consultants.

Certain land and buildings have been reclassified as part of the reticulation network and generation assets in the current year.

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VUW Te Waharoa — NZ Gazette 1998, No 146

NZLII — NZ Gazette 1998, No 146

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for TrustPower Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Fixed Assets, Valuation, TrustPower Limited, Generation Assets, Reticulation Network

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