NEW ZEALAND GAZETTE

No. 138

MARLBOROUGH LINES LIMITED NETWORK OPERATIONS

FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH THE ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 1999

1 CURRENT ASSETS

a Bank, cash, short-term investments: | 1,757,656 | 1,450,328 |
b Trade Debtors: | 393,925 | 1,063,338 |
c Other Debtors: | 553,591 | 126,241 |
d Prepayments: | - | - |
e Electricity Hedges: | - | - |
f Other Current assets not listed in (a) to (e): | 1,191,641 | 1,304,381 |
g Total current assets | 3,896,813 | 3,944,288 |

2 FIXED ASSETS

a System fixed assets: | 11,929,496 | - |
b Centralised load control equipment: | 1,354 | - |
c Consumer billing and information system assets: | 63,948 | - |
d Motor vehicles: | 118,040 | - |
e Office equipment: | 133,336 | - |
f Land and buildings: | 3,800,555 | - |
g Capital works under construction: | | |
i Subtransmission assets (transfer payment): | - | - |
ii Zone substations (transfer payment): | 193,453 | - |
iii Distribution lines and cables (transfer payment): | 66,991 | - |
iv Medium voltage switchgear (transfer payment): | 1,851 | - |
v Distribution transformers (transfer payment): | - | - |
vi Distribution substations (transfer payment): | 25,351 | - |
vii Low voltage lines and cables (transfer payment): | - | - |
viii Other system fixed assets (transfer payment), as categorised in standard asset tables in the ODV Handbook: | - | - |
h Other fixed assets not listed in (a) to (g): | 224,642 | 18,041,871 |

TOTAL FIXED ASSETS | 16,559,017| 18,041,871|

i Other tangible assets not listed above: | - | - |

3 TOTAL TANGIBLE ASSETS (total current assets plus total fixed assets plus other tangible assets):

| 20,455,830 | 21,986,159 |

Intangibles

a Goodwill assets: | - | - |
b Other intangibles not listed in (a): | - | - |

TOTAL INTANGIBLES | - | - |

4 TOTAL ASSETS (total current assets plus fixed assets plus other tangible assets plus intangibles):

| 20,455,830 | 21,986,159 |

5 CURRENT LIABILITIES

a Accounts payable: | 2,144,568 | 1,810,374 |
b Accrued payroll: | 136,384 | - |
c Other accruals: | - | - |
d Dividend provision: | - | - |
e Electricity Hedges: | - | - |
f Other current liabilities not listed in (a) to (e): | 96,940 | 66,811 |

TOTAL CURRENT LIABILITIES | 2,377,892 | 1,877,185 |

6 FUNDING

a Long term debt: | - | 2,375,000 |
b Equity: | 14,877,938 | 15,533,974 |
c Other funding not listed in (a) or (c): | 3,200,000 | 2,200,000 |

TOTAL FUNDING | 18,077,938| 20,108,974|

7 TOTAL EQUITY AND LIABILITIES (total assets):

| 20,455,830 | 21,986,159 |