New Zealand Gazette – 1999 – No. 143

Page 3423

✨ Financial Statements



8 OCTOBER NEW ZEALAND GAZETTE 3423

NETWORK TASMAN LIMITED

LINE BUSINESS FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS

  1. CREDITORS AND ACCRUALS

| | 1998
| | $000 | 1998
| | | $000 |
|--------------------------|-------|-------|
| Trade creditors | 1,731 | 2,277 |
| Leave provisions | 183 | 311 |
| Restructuring provisions | 0 | 931 |
| Sales discount provision | 0 | 3,882 |
| Dividend provision | 100 | 100 |
| Sundry provisions | 248 | 153 |
| Total | 2,262 | 7,654 |

  1. FIXED ASSETS

| | 1998 | 1998 |
| | $000 | $000 |
|------------------------------|--------|--------|
| Land (at valuation) | 1,697 | 1,765 |
| Buildings (at valuation) | 1,522 | 5,681 |
| Accumulated depreciation | 21 | 789 |
| | 1,501 | 4,892 |
| Distribution system (at valuation) | 73,659 | 73,296 |
| Accumulated depreciation | 4,099 | 2,169 |
| | 69,560 | 71,127 |
| Load Control Plant (at valuation) | 863 | 3,216 |
| Accumulated depreciation | 213 | 275 |
| | 650 | 2,941 |
| Plant and equipment | 1,387 | 1,356 |
| Accumulated depreciation | 727 | 704 |
| | 660 | 652 |
| Computer equipment (at cost) | 1,561 | 1,700 |
| Accumulated depreciation | 1,323 | 1,274 |
| | 238 | 426 |
| Motor vehicles (at cost) | 205 | 299 |
| Accumulated depreciation | 114 | 142 |
| | 91 | 157 |
| Total Fixed Assets | 74,397 | 81,960 |

  • Registered valuers, Duke & Cooke Limited, were commissioned to value the land and buildings of the group as at 31 March 1999. Net current value techniques were used for valuation purposes in accordance with the New Zealand Asset Valuation Standards of the New Zealand Institute of Valuers.


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🏭 Network Tasman Limited Line Business Financial Statements for 1999 (continued from previous page)

🏭 Trade, Customs & Industry
Financial Performance, Revenue, Earnings, Taxation, Dividends, Network Tasman Limited