New Zealand Gazette – 1998 – No. 155

Page 3701

✨ Financial Statements



23 SEPTEMBER NEW ZEALAND GAZETTE 3701

MAINPOWER NEW ZEALAND LTD
Lines Business
Notes to and Forming Part of the Financial Statements
For The Year Ended 31 March 1998

Notes 1998 $000 1997 $000
1
Operating Surplus Before Taxation
Net Surplus Before Taxation 8,969 9,228
After Charging
Depreciation 2,621 2,532
Interest 1 3
Operating Lease Costs 280 275
2.
Share Capital
Issued and Fully Paid Capital
Ordinary Shares 30,400,000 Shares 30,400 30,400
Redeemable Preference Shares 44,520 Shares (47,210 – 1997) 5 5
Total Issued Capital 30,405 30,405
Share Capital Movements
Opening Balance 30,405 30,405
Total Issued Capital 30,405 30,405
3.
Reserves
Company Establishment Reserve
Balance at 31 March 4,435 4,435
Asset Revaluation Reserve
Balance at 31 March 1,452 987
Total Reserves 5,887 5,422

The Company Establishment Reserve represents the difference between the issued and paid up capital and the net assets vested in the Company from the former North Canterbury Electric Power Board at 1 May 1993.

4.
Retained Earnings
Opening Balance 6,982 3,281
Dividend from Other Business Activities 783 391
Net Surplus 2,024 3,310
Total Retained Earnings 9,789 6,982


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