New Zealand Gazette – 1999 – No. 132

Page 3167

✨ Financial Statements



21 SEPTEMBER NEW ZEALAND GAZETTE 3167

NOTES TO THE FINANCIAL STATEMENTS

| | Lines Business |
| | 1999 | 1998 |
| | $ | $ |

Note 7: Fixed Assets
Distribution assets
At cost 7,881,960 8,615,064
Accumulated depreciation (4,199,220) (4,090,171)
Total carrying amount of distribution assets 3,682,740 4,524,893

Centralised load control equipment
At cost 523,803 523,803
Accumulated depreciation (214,255) (198,541)
Total carrying amount of distribution assets 309,548 325,262

Freehold land
At valuation - 31 March 1999 84,000 111,900
Total carrying amount of freehold land 84,000 111,900

Freehold buildings
At valuation - 31 March 1999 946,300 976,981
At cost 84,513
Accumulated depreciation (48,904)
Total carrying amount of freehold buildings 946,300 1,012,590

Motor vehicles
At cost 64,340 416,783
Accumulated depreciation (30,419) (185,053)
Total carrying amount of motor vehicles 33,921 231,730

Plant and equipment
At cost 516,141 475,699
Accumulated depreciation (234,849) (196,876)
Total carrying amount of plant and equipment 281,292 278,823

Consumer billing and information systems equipment
At cost 363,131 360,792
Accumulated depreciation (265,201) (228,899)
Total carrying amount of computer equipment 97,930 131,893

Total Fixed Assets 5,435,731 6,617,091

The fair value of the above assets are not materially different from their carrying amounts.

Note 8: Accounts Payable
Electricity customers (credit balances) 0 0
Estimated doubtful receivables 0 0
GST clearing account 19,158 72
Trade creditors 327,830 141,511
Customer deposits 0 11,040
Other creditors & accruals 63,852 28,550
410,840 181,173

Note 9: Term Loan
Non-current portion 0 0
Current portion 0 24,900

The loan, at 10.5% p.a., was secured over the revenue of the company and repaid on 28 April 1998.



Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1999, No 132


NZLII — PDF NZ Gazette 1999, No 132




✨ LLM interpretation of page content

🏭 Statement of Accounting Policies by SCANPOWER LIMITED (continued from previous page)

🏭 Trade, Customs & Industry
10 September 1999
Financial Statements, Fixed Assets, Accounts Payable, Term Loan, SCANPOWER LIMITED