New Zealand Gazette – 1999 – No. 121

Page 2883

✨ Financial Statements



15 SEPTEMBER NEW ZEALAND GAZETTE

Capital work in progress included in fixed assets at balance date is as follows:

Comprising $000's $000's
Subtransmission 25 19
Zone substations 282 215
Distribution lines and cables 888 676
Distribution substations 255 194
Low voltage lines and cables 179 136
SCADA 680 519
Standby generators 731 -
Total system fixed asset work in progress 3,040 1,759

Plus
| Information systems | 135 | - |
| Land and buildings | 50 | - |

| Total work in progress at balance date | 3,225 | 1,759 |

Revaluation

The company’s electricity distribution system was revalued to net current value as at 31 March 1997. The valuations, on an optimised deprival value basis, were certified by independent valuers, Ernst and Young. Land, buildings and other equipment were revalued to net current value as at 31 March 1997 by the registered valuers, Ernst and Young.

Depreciation has been applied to the revalued assets for the year ended 31 March 1999 in accordance with the group’s accounting policies.

Fixed assets purchased since the above valuations have been recorded at cost less accumulated depreciation.



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✨ LLM interpretation of page content

💰 Fixed Assets Summary (continued from previous page)

💰 Finance & Revenue
Fixed Assets, Valuation, Depreciation, Financial Statement, System Assets, Load Control Equipment, Information Systems, Land and Buildings, Motor Vehicles, Other Assets

💰 Revaluation of Fixed Assets

💰 Finance & Revenue
Revaluation, Depreciation, Valuation, Fixed Assets, Ernst and Young
  • Ernst and Young