Financial Statement




NEW ZEALAND GAZETTE

No. 115

THE POWER COMPANY LIMITED

LINE BUSINESS

STATEMENT OF FINANCIAL POSITION

As at 31 March 1999

Notes 1999 1998
Current Assets
Cash at Bank - 26,298
Receivables 5 2,744,958 652,182
Prepayments 46,474 39,984
Inventories 294,369 334,372
Work in Progress 209,682 108,250
Total Current Assets 3,295,483 1,161,086

| Non Current Assets | | | |
| Capital Work in Progress | 6 | 6,728,713 | 8,223,676 |
| Fixed Assets | 7 | 39,223,259 | 36,984,904 |
| Total Non Current Assets | | 45,951,972 | 45,208,580 |

| TOTAL ASSETS | | 49,247,455 | 46,369,666 |

| Current Liabilities | | | |
| Bank Overdraft | | 1,578,827 | 60,967 |
| Accounts Payable and Accruals| 8 | 2,462,619 | 2,546,548 |
| Provision for Dividend | | 75,116 | - |
| Provision for Tax | | (365,881) | 111,312 |
| Provision for Deferred Tax | | 720,920 | 476,721 |
| Total Current Liabilities| | 4,471,601 | 3,195,548 |

| Term Liabilities | | 7,252,890 | 14,501,385 |

| TOTAL LIABILITIES | | 11,724,491 | 17,696,933 |

| Owners Equity | | | |
| Capital Reserve | | 28,846,599 | 28,846,599 |
| Retained Earnings | | 8,676,365 | (173,866) |
| Total Owners’ Equity | | 37,522,964 | 28,672,733 |

| TOTAL LIABILITIES AND EQUITY | | 49,247,455 | 46,369,666 |



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💰 Financial Performance Statement for The Power Company Limited (continued from previous page)

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Financial Statement, Revenue, Expenses, Profit, Taxation