✨ 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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✨ LLM interpretation of page content

🏭 Financial Statements for Bay of Plenty Electricity Limited (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Financial Statements, Fixed Assets, Distribution System, Valuation, Depreciation, Accounts Payable, Accruals
  • Coopers and Lybrand (Chartered Accountants)
  • Worley Consultants Limited (Registered Engineers)