New Zealand Gazette – 1999 – No. 106

Page 2527

✨ Financial Statements



NEW ZEALAND GAZETTE

1 SEPTEMBER

2527

HAWKES BAY NETWORK LIMITED AND SUBSIDIARY

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

For The Year Ended 31 March 1999

4 OPERATING SURPLUS BEFORE TAX

Lines Business Other Business
1999 1998 1999 1998
$000 $000 $000 $000

After Charging: | | | | |
Transmission Costs | 12,963 | 12,775 | - | -
Total Depreciation | 3,119 | 3,104 | 104 | 92
System Depreciation | 1,985 | 1,958 | - | -
Corporate and Administration | 2,806 | 2,752 | 935 | 885
Interest Expense | 236 | 304 | - | -
Marketing/Advertising | 48 | 98 | 435 | 879
Consultancy and Legal Costs | 290 | 273 | 237 | 224
Asset Maintenance Costs by own providers | 5,717 | 5,375 | - | -
Asset Maintenance Costs to non related providers | - | - | - | -
Disconnection and Reconnection Costs | - | - | 47 | 82
Bad Debts Written Off | 9 | 122 | 112 | 123
Rebates | - | 4,119 | - | -
Change in Provision for Doubtful Debts | 200 | (1) | 19 | 16
Electricity Hedges | - | - | 5,764 | -
Loss On Sale Of Assets | 15 | 31 | - | -
Operating Lease Costs | - | - | 51 | 51
Redundancy Provisions | - | - | 2,300 | -
Consumer Billing and Information System Expense | 686 | - | - | -
Salaries | 3,045 | 9,340 | 7,375 | 1,128

After Crediting: | | | | |
Interest Revenue | 246 | 149 | 226 | 448
Line Charges | 17,517 | 13,126 | - | -
Gain On Sale Of Assets | 281 | - | - | -
Loss Rental Rebates | - | - | 946 | 971
Electricity Hedges | - | - | 5,351 | -
Dividends Received | - | 7 | - | -
Recovery of debt previously written off as bad | - | - | 24 | 10

5 AUDITORS REMUNERATION

Accounts payable or due and payable to the Auditors for:
Auditing Financial Statements | 30 | 19 | 4 | 9
Other Services | 4 | 3 | - | -

6 DIRECTORS REMUNERATION

Remuneration Paid To Directors | 150 | 100 | - | -

7 RECEIVABLES AND PREPAYMENTS

Trade Debtors | 3,194 | 4,473 | 3,773 | 5,322
Provision For Doubtful Debts | (14) | (104) | (11) | (121)
| 3,180 | 4,369 | 3,762 | 5,201
Prepayments | 20 | 15 | - | -
| 3,200 | 4,384 | 3,762 | 5,201

8 TERM DEBT

Due For Repayment:
2003 | 1,000 | 1,000 | - | -

The Interest Rate on the loan is 6.0%
The debt is unsecured



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🏭 Hawke's Bay Network Ltd Financial Statements Notes (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Operating Surplus, Depreciation, Interest Expense, Auditors Remuneration, Directors Remuneration, Receivables, Term Debt, Hawke's Bay Network Ltd