β¨ Financial Statements
11 OCTOBER NEW ZEALAND GAZETTE 3519
Notes to and forming part of the financial statements for the year ended 31 March 1999
| 1999 | 1998 | |
|---|---|---|
| $000 | $000 |
13. FIXED ASSETS
Distribution systems at valuation
Network assets at valuation | 664,198 | 688,265
Centralised load control at valuation | 10,482 | -
Distribution land at valuation | 17,708 | 7,664
Distribution buildings at valuation | 17,751 | 19,448
Net book value | 710,139 | 715,377
Other plant and equipment
Plant and equipment | 317 | 31
Accumulated depreciation | (66) | (2)
Net book value | 251 | 29
Capital work in progress
Subtransmission assets | 49,928 | -
Zone substations | 16,252 | -
Distribution lines and cables | 1,612 | -
Medium voltage switchgear | 554 | -
Distribution transformers | 2,178 | -
Distribution substitions | 309 | -
Low voltage lines and cables | 1,307 | -
Other system fixed assets | 856 | -
Net book value | 72,996 | 41,140
Total net book value | 783,386 | 756,546
ODV valuation
Balance as at 1 April 1998 | 715,377 | 742,326
Restatement adjustment | - | (3,139)
| 715,377 | 739,187
Movement in net book value | (20,047)| 38,816
ODV revaluation (devaluation) | 14,809 | (62,626)
Balance as at 31 March 1999 | 710,139 | 715,377
The ODV valuation was prepared in accordance with the Ministry of Commerce Handbook (April 1999) in conjunction with Worley Consultants. Revaluations are carried out at least every three years in accordance with the accounting policy.
14. DEFERRED TAXATION
Balance as at 1 April 1998 | 32,850 | 493
Transfer to statement of financial performance | (16,147) | 32,357
Balance as at 31 March 1999 | 16,703 | 32,850
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VUW Te Waharoa —
NZ Gazette 1999, No 147
NZLII —
NZ Gazette 1999, No 147
β¨ LLM interpretation of page content
π
Financial Performance of Vector Limited for the year ended 31 March 1999
(continued from previous page)
π Trade, Customs & IndustryFinancial Performance, Revenue, Surplus, Deficit, Tax, Electricity Lines Business