New Zealand Gazette – 1999 – No. 126

Page 3022

✨ Financial Statements



3022

NEW ZEALAND GAZETTE

No. 126

ELECTRICITY ASHBURTON LIMITED - LINE BUSINESS
STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEAR ENDED 31 MARCH 1999

Notes 1999 1998
$ $
Revenue :
Line Charges - Other Retailers 19,769
Line Charges - Consumers 11,666,674
Other 132,274
Interest
Gain on Sale of Assets 10,000
Total Revenue 11,828,717 11,389,813

Operating Expenditure :
Transmission Charges 3,120,298
Internal Transfer Payments :
Distribution System Maintenance 1,540,284
Disconnections & Reconnections 5,062
Metering Data 10,742
Load Control Services 5,004
Avoided Transmission Charges 0
Other Services 0
External Payments :
Distribution System Maintenance 64,672
Disconnections & Reconnections 0
Metering Data 0
Load Control Services 0
Salaries & Redundancies 1,015,116
Consumer Billing & Info Sys 0
Depreciation :
System F/Assets 2,298,873
Works Under Construction 475,682
Other 0
Corporate & Administration 497,674
Human Resources 171,360
Marketing / Advertising 0
Merger & Acquisition 0
Takeover Defence 0
Research & Development 0
Consultancy / Legal 65,473
Electricity Hedges 0
Amortised Goodwill 0
Subvention Payments 28,101
Loss on Sale of Assets 0
Other Expenses 280,605
Total Expenditure 9,578,946 9,366,814
Operating Surplus 2,249,771 2,022,999
Customer Deferred Discount 8 1,569,813 763,612
Earnings before Interest and Taxation 679,958 1,239,387
Interest Paid 120,207 118,456
Taxation 1,054,431 566,047
Net Profit after Taxation (494,680) $554,884

STATEMENT OF MOVEMENTS IN EQUITY
FOR THE YEAR ENDED 31 MARCH 1999

    1999        1998
    $       $

EQUITY AT THE START OF THE YEAR 55,069,210 28,650,981
Surplus and Revaluations :
Operating Surplus after Taxation (494,680) 554,884
Deferred Taxation on Distribution System Revaluation 3,146,726 (5,523,894)
Revaluation of Distribution System 31,387,239
Total Recognised Revenue and Expenses for the Period 2,652,046 26,418,229
Other Movements :
Metering Assets Revaluation Reserve Transferred to Other Business 815,273
EQUITY AT THE END OF THE YEAR $56,905,983 $55,069,210

The accompanying notes form part of these financial statements



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✨ LLM interpretation of page content

🏭 Financial Performance Statement for Electricity Ashburton Limited (continued from previous page)

🏭 Trade, Customs & Industry
Revenue, Expenditure, Net Profit, Line Charges, Depreciation, Interest, Taxation

🏭 Statement of Movements in Equity for Electricity Ashburton Limited

🏭 Trade, Customs & Industry
Equity, Surplus, Revaluation, Distribution System, Deferred Taxation, Metering Assets