β¨ Financial Statements
24 SEPTEMBER NEW ZEALAND GAZETTE
Line Business
1999 ($000s) 1998 ($000s)
Capital assets under construction
- Subtransmission 479
- Zone substations 508
- Distribution lines & cables 442
- Medium Voltage switchgear
- Distribution Transformers 45
- Distribution substations 22
- Low voltage reticulation 73
- Other
Total 1,569
Total net book value 142,009 133,934
Land and Buildings were revalued on 31 March 1998 by Ford Valuations Limited Registered Valuers.
The distribution system was revalued on 31 March 1998 by Sinclair Knight Merz (NZ) Limited (trading as Leyland Consultants).
Buildings at cost represents the amount paid to Hamilton City Council in 1989 for the use of substations buildings. This amount is being depreciated over a period of 33 years.
8 Current liabilities
- Trade creditors 1,363 4,999
- Customer deposits - 331
- Provision for annual and long service leave 163 380
- Provision for dividend 724 4,420
- Provision for tax 59
- Other current liabilities 366
Total 2,675 10,130
9 Contingencies
There are no contingent liabilities.
10 Capital commitments
There are no capital commitments in the line business (1998 $2,108,000).
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VUW Te Waharoa —
NZ Gazette 1999, No 134
NZLII —
NZ Gazette 1999, No 134
β¨ LLM interpretation of page content
π
Notes to the Financial Statements for WEL Energy Group Limited
(continued from previous page)
π Trade, Customs & IndustryFinancial statements, Revenue, Operating expenditure, Line business, Depreciation, Corporate overheads, Salaries, Billing, Consultancy, Legal fees, Interest, Audit fees, Asset sales, Bad debts