New Zealand Gazette – 1999 – No. 113

Page 2688

✨ Financial Statements



2688 NEW ZEALAND GAZETTE No. 113

WAITAKI POWER LIMITED

NOTE 4: EXPENSES - FOR THE YEAR ENDED 31 MARCH 1999 - continue

1998-99 LINES 1997-98 LINES
Corporate and Administration:
Telephone, fax, cafeteria 17,766
Insurance and security 21,812
Accounting, treasury, auditing, bank fees, directors, trust, donations, subscriptions 130,870
Total 170,448

| Human Resource Expenses | | |
| FBT | 12,885 | |
| ACC | (3,452) | 29,523 |
| Superannuation | 29,523 | |
| Training | 25,485 | |
| Recruitment | 0 | |
| Total | 64,441 | |

| Marketing/Advertising | 6,046 | |
| Bad debts and collection expenses | 0 | |
| Merger and acquisition expenses | 0 | |
| Takeover defence expenses | 0 | |
| Research and development expenses | 0 | |
| Consultancy and legal expenses | 29,192 | |
| Amortised goodwill | 0 | |
| Subvention payments | 0 | |
| Other expenses not listed above | 63,294 | |
| TOTAL | $5,073,528| |

NOTE 5: FIXED ASSETS

| Distribution | | |
| Centralised Load Control Equipment | 7,302,121 | 7,462,712 |
| Land and Buildings | 312,372 | |
| Motor Vehicles | 298,182 | 170,701 |
| Office Equipment | 88,722 | 29,716 |
| Plant and Equipment | 193,704 | |
| Capital Works Under Construction | 0 | 402,107 |
| Subtransmission assets | | |
| Zone Substations | | |
| Distribution lines assets | | |
| Medium voltage switchgear | 1,222 | |
| Distribution transformers | | |
| Distribution substations | | |
| Low voltage lines and cables | | |
| Other system fixed assets | | |
| Total Fixed Assets | $8,196,323| $8,065,236|

NOTE 6: OPENING EQUITY

The opening equity for the 1998-99 year has been adjusted to reflect the allocation method required in the Electricity (Information Disclosure) Regulations 1999. The value of the adjustment is $2,555,913.

NOTE 7: OPTIMISED DEPRECIATED VALUE

Pursuant to Regulation 19 of the Electricity (Information Disclosure) Regulations 1999:
The Optimised Depreciated Value as April 1 1997 was $43,207,488, less meters and relays $1,967,715 = $41,239,773.



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🏭 Waitaki Power Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Performance, Cash Flows, Revenue, Expenditure, Electricity Retailers, Direct Charges, AC Rental Rebates, Investment Income, Other Income, Expenses, Bad Debts, Lease Charges, Asset Maintenance, Transmission Charges, Depreciation