β¨ Financial Statements
8 OCTOBER NEW ZEALAND GAZETTE 3447
BAY OF PLENTY ELECTRICITY LIMITED
Financial Statements for the purposes of the Electricity (Information Disclosure) Regulations 1999
NOTES TO THE FINANCIAL STATEMENTS
9 FIXED ASSETS (Continued)
Valuation of Distribution Assets
Distribution assets are revalued at least every three years.
Distribution assets were revalued at 31 March 1997. The value adopted is the Optimised Deprival Value of the distribution system as at 31 March 1997. The valuation report was prepared by Coopers and Lybrand (Chartered Accountants) and independently verified by Worley Consultants Limited (Registered Engineers). The valuation was performed in accordance with generally accepted valuation techniques.
The Optimised Deprival Value of the Distribution System (established 31 March 1997) was $67,905,400.
The Company has carried forward this balance and adjusted for additions, disposals and depreciation. The revised value as at 31 March 1999 is $64,473,000.
Useful lives and Depreciation Methods
| Useful Lives 1999 In Years | Useful Lives 1998 In Years | |
|---|---|---|
| Land Improvements | 3-40 | 3-40 |
| Other Buildings | 40-100 | 40-100 |
| Distribution System | 15-70 | 15-70 |
| Plant and Equipment | 2-10 | 2-10 |
| Motor Vehicles | 5-10 | 5-10 |
| Furniture and Fittings | 10 | 10 |
All assets are depreciated on a straight line basis.
| | Lines Business 1999 $000 | Lines Business 1998 $000 |
10 ACCOUNTS PAYABLE AND ACCRUALS
Accounts Payable and Accruals comprise:
| 1999 | 1998 | |
|---|---|---|
| Trade Creditors | 1,154 | 2,292 |
| Other Accruals | 246 | |
| Employee Entitlements | 179 | 215 |
| -------- | -------- | |
| Balance as at 31 March | 1,579 | 2,507 |
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VUW Te Waharoa —
NZ Gazette 1999, No 144
NZLII —
NZ Gazette 1999, No 144
β¨ LLM interpretation of page content
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Financial Statements for Bay of Plenty Electricity Limited
(continued from previous page)
π Trade, Customs & IndustryElectricity, Financial Statements, Fixed Assets, Distribution System, Valuation, Depreciation, Accounts Payable, Accruals
- Coopers and Lybrand (Chartered Accountants)
- Worley Consultants Limited (Registered Engineers)