New Zealand Gazette – 1998 – No. 161

Page 3881

✨ Financial Report

28 SEPTEMBER NEW ZEALAND GAZETTE

3881

Horowhenua Energy Limited Line and Energy Businesses - Annual Report 1998

4. Fixed assets

	Line		Energy
	1998	1997	1998	1997
	$000	$000	$000	$000
Freehold land	371	270	-	-
Freehold buildings
	765	704	-	-
Accumulated depreciation	82	74	-	-
	683	630	-	-

| Distribution assets| 55,460 | 51,894 | - | - |
| Plant and Equipment| 7,209 | 6,678 | 176 | 163 |
| Accumulated depreciation| 3,589| 2,664 | 93 | 58 |
| | 3,620 | 4,014 | 83 | 105 |

| Vehicles | 339 | 331 | 28 | 28 |
| Accumulated depreciation| 126 | 108 | 12 | 7 |
| | 213 | 223 | 16 | 21 |

| Capital assets in progress| 2,130 | 3,602 | - | - |

| Total Fixed Assets | $62,477 | $60,633 | $99 | $126 |

Freehold land is stated at market valuation of $371,000 as at 31 March 1998. The valuations are carried out on a 3 yearly basis, the next one is due 31 March 2001.

The Optimised Deprival Value (ODV) of the network was assessed by KPMG Peat Marwick as at 31 March 1997. Their report places an ODV on network assets of $56.36 million.

5. Receivables and prepayments

	Line		Energy
	1998	1997	1998	1997
	$000	$000	$000	$000
Trade debtors	1,887	1,858	1,394	1,511
Inter-Company receivables	220	21	-	-
Prepayments	23	14	-	-
	2,130	1,893	1,394	1,511

less Provision for doubtful debts

| | 100 | 100 | 100 | 100 |
| | $2,030 | $1,793 | $1,294 | $1,411 |

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VUW Te Waharoa — NZ Gazette 1998, No 161

NZLII — NZ Gazette 1998, No 161

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

🏭 Horowhenua Energy Limited Line and Energy Businesses - Annual Report 1998 (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated29 May 1998
KeywordsFinancial Instruments, Hedging, Dividends, Accounts Payable, Electricity, Financial Performance, Fixed Assets, Receivables, Prepayments

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