New Zealand Gazette – 1998 – No. 151

Page 3654

✨ Financial Statements Notes

3654 NEW ZEALAND GAZETTE No. 151

Notes to and Forming Part of the Financial Statements

For the Year Ended 31 March 1998

5 WORKING CAPITAL ADVANCES FACILITY

The company has established a Wholesale Working Capital Advances Facility with the BNZ Bank of up to $15 million dollars. At 31 March 1998 the amount drawn down from this facility amounted to $4.3 million. Interest is charged to the company according to the daily wholesale lending rate. The facility is based on a revolving credit and as such does not have set repayment dates.

6 COMMERCIAL PAPER FACILITY

The company established a commercial paper facility in December 1997 with ANZ Investment Bank, Bank of New Zealand and WestpacTrust. This is a 90 day rolling facility with a maximum amount of $200 million. At year end $97,868,870 had been drawn down.

7 FIXED ASSETS

Fixed Assets as at 31 March 1998	Line 1998 $000	Energy 1998 $000	Generation 1998 $000	Other 1998 $000
Land
Capital value	2,329		487	32

| Buildings | | | | |
| Capital value | 10,177 | | 2,379 | 15 |
| less Accumulated depreciation | 1,298 | | 162 | |
| | 8,879 | | 2,217 | 15 |

| Furniture and Fittings | | | | |
| Capital value | 2,507 | | 38 | 783 |
| less Accumulated depreciation | 1,822 | | 20 | 372 |
| | 685 | | 18 | 411 |

| Office Equipment | | | | |
| Capital value | 16,153 | | 598 | 1,444 |
| less Accumulated depreciation | 9,108 | | 159 | 815 |
| | 7,045 | | 439 | 629 |

| Motor Vehicles | | | | |
| Capital value | 3,226 | | 8 | 79 |
| less Accumulated depreciation | 2,329 | | 5 | 45 |
| | 897 | | 3 | 34 |

| Network Systems and Generation | | | | |
| Capital value | 359,410 | | 82,202 | 40,410 |
| less Accumulated depreciation | 161,308 | | 2,253 | 12,418 |
| | 198,102 | | 79,949 | 27,992 |

| Work in Progress | 1,231 | | 335 | 194 |

| Total Fixed Assets | $219,168 | | $83,448 | $29,308 |

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VUW Te Waharoa — NZ Gazette 1998, No 151

NZLII — NZ Gazette 1998, No 151

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

🏭 Powerco Limited Financial Statements Certification (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated11 May 1998
KeywordsPowerco Limited, Financial Statements, Share Capital, Reserves, Asset Revaluation, Network Asset Revaluation, Deferred Taxation, Working Capital Advances Facility, Commercial Paper Facility, Fixed Assets

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