New Zealand Gazette – 1998 – No. 150

Page 3631

✨ Financial Statements

NEW ZEALAND GAZETTE

18 SEPTEMBER

3631

(n) Changes in Accounting Policies

There were no changes in Accounting Policies. All policies have been applied on a basis consistent with that used in previous years.

	1998			1997
	Total	Line	Energy	Total	Line	Energy
	$'000	$'000	$'000	$'000	$'000	$'000

2. CONTINUING AND DISCONTINUED ACTIVITIES

Continuing Activities -

Operating revenue
29,802 | 15,751 | 14,051 | 29,773 | 15,196 | 14,577 |
Operating surplus/(deficit)
3,605 | 3,535 | 70 | 2,441 | 1,874 | 567 |

The company did not discontinue any activities during the year under review.

3. REVENUE

Home Appliance sales
1,302 | 0 | 1,302 | 1,172 | 0 | 1,172 |
Sales of electricity
26,334 | 14,914 | 11,420 | 27,033 | 14,792 | 12,241 |
Other miscellaneous income
2,166 | 837 | 1,329 | 1,569 | 405 | 1,164 |
Total Revenue
29,802 | 15,751 | 14,051 | 29,773 | 15,197 | 14,577 |

4. NET SURPLUS BEFORE TAXATION

Is stated after taking into account the following:

Income from:

Interest received
479 | 456 | 23 | 354 | 328 | 26 |

Charges in respect of:

Audit fees
23 | 17 | 6 | 24 | 19 | 5 |
Audit fees - Information Disclosure
2 | 2 | 0 | 4 | 3 | 1 |
Audit NZ - Consultancies
3 | 0 | 3 | 4 | 0 | 4 |
Bad Debts
83 | 47 | 36 | 79 | 43 | 36 |
Depreciation
1,608 | 1,487 | 121 | 1,512 | 1,412 | 100 |
Directors' fees
109 | 83 | 26 | 85 | 67 | 18 |
Finance Charges on Finance Leases
9 | 5 | 4 | 6 | 3 | 3 |
Interest on borrowings
1 | 1 | 0 | 1 | 1 | 0 |
Rental and operating lease costs
55 | 42 | 13 | 70 | 55 | 15 |
Research and development
140 | 0 | 140 | 130 | 0 | 130 |

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VUW Te Waharoa — NZ Gazette 1998, No 150

NZLII — NZ Gazette 1998, No 150

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Eastland Energy Limited Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated7 August 1998
KeywordsFinancial Statements, Electricity, Disclosure, Regulations, Eastland Energy

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