β¨ Financial Statements
4544 No. 193
NEW ZEALAND GAZETTE
TRANSPOWER NEW ZEALAND LIMITED GROUP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 1998
10. FIXED ASSETS
| Valuation 1998 $000 | Valuation 1997 $000 | |
|---|---|---|
| Infrastructure Asset | ||
| Transmission lines | 852,433 | 1,090,458 |
| Non Infrastructure Assets | | |
| Freehold land | 28,991 | 33,358 |
| Freehold buildings | 49,936 | 54,016 |
| Substations | 821,799 | 993,943 |
| HVDC link | 81,219 | 123,448 |
| HVDC leased assets | 327,067 | 369,812 |
| Communications | 65,390 | 104,062 |
| Minor assets | 31,674 | 35,757 |
| Capital work in progress | 51,515 | 48,512 |
| Total Non Infrastructure Assets | 1,457,591 | 1,762,908 |
| Total Fixed Assets | 2,310,024 | 2,853,366 |
Minor assets include plant, equipment, furniture, and motor vehicles.
The fixed assets of the Group were revalued at 30 June in accordance with the Optimised Deprival Value methodology (ODV). The valuation was completed by Transpower, and independently reviewed by The LJE&K Partnership as valuation experts.
Related Party Transactions
Annual capital work in progress expenditure with:
| 1998 $000 | 1997 $000 | |
|---|---|---|
| ECNZ Group | - | 3,547 |
| Works Consultancy Services | - | 21 |
| BCL | 55 | 18 |
| 55 | 3,586 |
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VUW Te Waharoa —
NZ Gazette 1998, No 193
NZLII —
NZ Gazette 1998, No 193
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Transpower New Zealand Limited Notes to the Financial Statements
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π Trade, Customs & IndustryFixed Assets, Valuation, Infrastructure, Financial Statements, Transpower