New Zealand Gazette – 1999 – No. 132

Page 3168

✨ Financial Statements



3168 NEW ZEALAND GAZETTE No. 132

NOTES TO THE FINANCIAL STATEMENTS

Note 10: Reconciliation of CashFlow with Operating Surplus

                             Lines Business
                             1999       1998
                             $          $

Reported surplus after taxation 79,454 32,497

Add Non Cash Items
Depreciation 368,273 420,021
Increase/(decrease) in doubtful debts 0 0
Increase/(decrease) in deferred tax provision (298,726) 30,970

Changes in Working Capital
Increase/(decrease) in accounts payable & accruals 229,667 12,012
(Increase)/decrease in accounts receivable (156,345) (158,369)
(Increase)/decrease in inventory 24,150 (24,751)
Increase/(decrease) in employee entitlements (150,510) (6,351)
Increase/(decrease) in provision for taxation 21,526 (63,825)

Other
Net movements in other business * 369,670 0

Items Classified as Investing Activities
Net (surplus)/loss on disposal of fixed assets 70,690 (26,998)
Net Cashflow from Operating Activities 557,849 215,206

  • Relates to other business items utilising the avoidable cost methodology

Note 11: Wind Generation Project

SCANPOWER Limited has a 10% interest in The Wind Farm Company which holds a resource management
consent to erect and operate wind turbines near Woodville.

Note 12 Analysis of non-cancellable operating lease commitments

Payable not later than one year 33,504 33,504
Payable later than one year, not later than two years 13,960 33,504
Payable later than two years, not later than five years 0 13,960
Payable later than five years 0 0
47,464 80,968

Lease payments started on 1 September 1997 and the lease contract provides for the optional extension for a
further twenty-four months on a month-to-month basis.

Note 13: Environmental Policy

SCANPOWER endeavours to adhere to a sustainable use policy with a minimum of environmental disturbance
and desecration. To date, SCANPOWER is unaware of any of its projects or operations that would not meet the
above policy nor any environmental regulations currently in existence in New Zealand.

Note 14: Capital Commitments and Contingent Liabilities

As at 31 March 1999, the company had no contingent liabilities (1997/98 also Nil).

SCANPOWER has not entered into any contracts to purchase or install equipment of a capital nature (1997/8-Nil)



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✨ 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