New Zealand Gazette – 1999 – No. 138

Page 3328

✨ Financial Statements



3328 NEW ZEALAND GAZETTE No. 138

MARLBOROUGH LINES LIMITED
FINANCIAL STATEMENTS PREPARED IN ACCORD WITH THE
ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 1999

STATEMENT OF FINANCIAL PERFORMANCE

For the Year Ended 31 March 1999

REVENUE 1999 $ 1998 $
13,517,508 14,259,479
NET SURPLUS BEFORE TAX 1,562,233 4,170,662
LESS TAXATION EXPENSE 586,825 1,271,736
NET SURPLUS AFTER TAX 975,408 2,898,926

STATEMENT OF MOVEMENTS IN EQUITY

For the Year Ended 31 March 1999

EQUITY AT BEGINNING OF YEAR 15,533,974
Net surplus for Year 975,408
Total Recognised Revenues and Expenses For The Period
975,408
Reduction in Equity due to removal of Metering Assets
(1,631,444)
EQUITY AT END OF YEAR 14,877,938

STATEMENT OF FINANCIAL POSITION

As at 31 March 1999

EQUITY
Share capital 7,104,699 8,736,142
Retained earnings 7,773,239 6,797,832
TOTAL EQUITY 14,877,938 15,533,974

Represented By:

CURRENT ASSETS
Cash and Bank 1,757,656 1,450,328
Receivables and prepayments 393,925 1,063,338
Inventories 1,191,641 1,304,381
Provision for tax and deferred tax 553,591 64,499
3,896,813 3,882,546

CURRENT LIABILITIES
Creditors 2,280,952 1,810,374
Provision for tax (61,742)
Term Debt - External 3,200,000 2,375,000
Term Debt - Internal 96,940 2,200,000
Employee entitlements 66,811
5,577,892 6,390,443

NET CURRENT ASSETS (1,681,079) (2,507,897)

NON-CURRENT ASSETS
Fixed assets 16,559,017 18,041,871

NET ASSETS 14,877,938 15,533,974



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