New Zealand Gazette – 1999 – No. 106

Page 2528

✨ Financial Statements Notes

2528 NEW ZEALAND GAZETTE No. 106

HAWKES BAY NETWORK LIMITED AND SUBSIDIARY

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 1999

9 COMMITMENTS & CONTINGENT LIABILITIES

At balance date the Lines Business had entered into contractual commitments of $287,580. (1997 $53,500)
Other Business activities have a (potential) maximum contractual obligation of $66,000 by acting as a partial guarantor of Energy Brokers New Zealand Ltd bank overdraft. (1998 $66,000)
There were no other contingent liabilities existing at balance date (1998 $0)

10 FIXED ASSETS

Lines Business 31 March 1999

Distribution System (Excluding Load Control Equipment) - 99,122 - 99,122
Load Control Equipment - 1,461 - 1,461
Land - 1,429 - 1,429
Buildings - 4,786 - 4,786
Vehicles, Plant & Equipment 12,749 - 9,160 3,589
12,749 106,798 9,160 110,387

Lines Business 31 March 1998

Distribution System 94,923 - 42,606 52,317
Land 1,011 - 3 1,011
Buildings 10,473 - 1,576 8,897
Vehicles, Plant & Equipment 13,878 - 9,824 4,054
120,285 - 54,009 66,276

Other Business
Vehicles, Metering Equipment,Plant and Equipment
31 March 1999 3,125 - 1,680 1445
31 March 1998 1,779 - 341 1159

11 EVENTS SUBSEQUENT TO BALANCE DATE

Subsequent to balance date the Company has confirmed and announced a major restructure of its business which involves rationalisation of non core activities and contracting out much of the network maintenance and construction activities. The financial statements have been adjusted to reflect employee entitlements arising from the restructuring.

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VUW Te Waharoa — NZ Gazette 1999, No 106

NZLII — NZ Gazette 1999, No 106

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✨ LLM interpretation of page content

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

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Commitments, Contingent Liabilities, Fixed Assets, Events Subsequent to Balance Date, Hawke's Bay Network Ltd

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