18 SEPTEMBER

NEW ZEALAND GAZETTE

1998

| | Total $
000 | Line $
000 | Energy $
000 |
| --- | --- | --- | --- |
| 1998 | | | |
| 8. INVESTMENTS | | | |
| Loan to EMCO | 11 | 0 | 11 |
| Investment in Unlisted Shares | 15 | 0 | 15 |
| Total Investments | 26 | 0 | 26 |

| | Total $
000 | Line $
000 | Energy $
000 |
| --- | --- | --- | --- |
| 1997 | | | |
| 8. INVESTMENTS | | | |
| Loan to EMCO | 13 | 0 | 13 |
| Investment in Unlisted Shares | 0 | 0 | 0 |
| Total Investments | 13 | 0 | 13 |

| | Total $
000 | Line $
000 | Energy $
000 |
| --- | --- | --- | --- |
| 1998 | | | |
| 9. INVESTMENT IN ASSOCIATES | | | |
| - at cost | 115 | 0 | 115 |
| - share of decrease in net assets | (86) | 0 | (86) |
| | 29 | 0 | 29 |

| | Total $
000 | Line $
000 | Energy $
000 |
| --- | --- | --- | --- |
| 1997 | | | |
| 9. INVESTMENT IN ASSOCIATES | | | |
| - at cost | 110 | 0 | 110 |
| - share of decrease in net assets | (74) | 0 | (74) |
| | 36 | 0 | 36 |

| | Total $
000 | Line $
000 | Energy $
000 |
| --- | --- | --- | --- |
| 1998 | | | |
| 10. FIXED ASSETS | | | |
| Distribution system - at cost | 28,106 | 28,106 | 0 |
| less accumulated depreciation | (13,926) | (13,926) | 0 |
| | 14,180 | 14,180 | 0 |

| Buildings - at valuation | 2,658 | 2,088 | 570 |
| less property intended for sale | (97) | 0 | (97) |
| | 2,561 | 2,088 | 473 |
| Less accumulated depreciation | (17) | (13) | (4) |
| | 2,544 | 2,075 | 469 |

| Motor vehicles - at cost | 2,033 | 1,544 | 489 |
| less accumulated depreciation | (1,165) | (885) | (280) |
| | 868 | 660 | 209 |

| Plant, furniture & equipment - at cost | 3,322 | 2,523 | 799 |
| less accumulated depreciation | (2,080) | (1,580) | (500) |
| | 1,242 | 943 | 299 |

| Assets < $2,000 - at book value | 128 | 97 | 31 |
| less accumulated depreciation | (79) | (60) | (19) |
| | 49 | 37 | 12 |

| Leased Assets - at cost | 83 | 47 | 36 |
| less accumulated depreciation | (26) | (15) | (11) |
| | 57 | 32 | 25 |

| Land at valuation | 1,560 | 1,333 | 227 |
| Less land intended for sale | (60) | (0) | (60) |
| | 1,500 | 1,333 | 167 |

| TOTAL FIXED ASSETS | | | |
| - at cost | 33,545 | 32,221 | 1,324 |
| - at book value | 128 | 97 | 31 |
| - at valuations | 4,060 | 3,420 | 640 |
| Sub-total | 37,733 | 35,738 | 1,995 |
| less accumulated depreciation | (17,294) | (16,479) | (815) |
| Fixed Assets as at 31 March 1998 | 20,439 | 19,259 | 1,180 |

| | Total $
000 | Line $
000 | Energy $
000 |
| --- | --- | --- | --- |
| 1997 | | | |
| 10. FIXED ASSETS | | | |
| Distribution system - at cost | 27,050 | 27,050 | 0 |
| less accumulated depreciation | (12,820) | (12,820) | 0 |
| | 14,230 | 14,230 | 0 |

| Buildings - at valuation | 2,852 | 2,306 | 546 |
| less property intended for sale | 0 | 0 | 0 |
| | 2,852 | 2,306 | 546 |
| Less accumulated depreciation | (33) | (26) | (7) |
| | 2,819 | 2,280 | 539 |

| Motor vehicles - at cost | 1,869 | 1,470 | 399 |
| less accumulated depreciation | (1,104) | (868) | (236) |
| | 765 | 602 | 163 |

| Plant, furniture & equipment - at cost | 2,938 | 2,311 | 627 |
| less accumulated depreciation | (1,824) | (1,435) | (389) |
| | 1,114 | 876 | 238 |

| Assets < $2,000 - at book value | 133 | 104 | 28 |
| less accumulated depreciation | (63) | (50) | (13) |
| | 70 | 54 | 15 |

| Leased Assets - at cost | 83 | 45 | 38 |
| less accumulated depreciation | (10) | (5) | (5) |
| | 73 | 40 | 33 |

| Land at valuation | 1,571 | 1,480 | 91 |
| Less land intended for sale | 0 | 0 | 0 |
| | 1,571 | 1,480 | 91 |

| TOTAL FIXED ASSETS | | | |
| - at cost | 31,946 | 30,880 | 1,066 |
| - at book value | 127 | 100 | 27 |
| - at valuations | 4,423 | 3,786 | 637 |
| Sub-total | 36,496 | 34,766 | 1,730 |
| less accumulated depreciation | (15,854) | (15,204) | (650) |
| Fixed Assets as at 31 March 1997 | 20,642 | 19,562 | 1,080 |

Freehold land and buildings were valued by Mr G H Kelso, ANZIV, Registered Valuer of Lewis and Wright, Gisborne, in February 1997 to their net current value on the basis of their existing use and in accordance with the Asset Valuation Standards of the New Zealand Institute of Valuers.