New Zealand Gazette – 1999 – No. 149

Page 3549

✨ Financial Disclosure Tables



13 OCTOBER NEW ZEALAND GAZETTE 3549

Additional expenditure disclosure pursuant to Part 2 of Schedule 1 of the Electricity (Information Disclosure) Regulations 1999:

1999 $000
Transmission charges 5,243
Asset maintenance carried out by "Other" business 742
Consumer Connections & Disconnections carried out by "Other" business -
Meter Data provided by "Other" Business -
Consumer based load control services carried out by "Other" business -
Avoided transmission charges on account of own generation -
Other goods and services provided by "Other" business -
Maintenance services (non-related entities) 280
Consumer connections and disconnections carried out by non-related entities 62
Meter Data provided by non-related entities -
Consumer based load control services carried out by non-related entities -
Employee salaries and redundancies 1,725
Consumer billing and information system expense 167
Depreciation on system fixed assets 1,840
Depreciation on capital works under construction 295
Corporate and administration 1,198
Total other human resource expenses 371
Marketing/advertising 415
Merger and acquisition expenses -
Takeover defence expenses -
Research and development expenses -
Consultancy and legal expenses 100
Electricity hedges -
Amortised goodwill -
Subvention payments -
Avoided transmission charges on account of causes other than own generation -
Other expenditure 3,722
Total Expenditure 16,160
  1. TAXATION
1999 $000 1998 $000
Accounting profit/(loss) before taxation 5,625 3,234
Prima facie taxation/(credit) 1,856 1,067
Plus/(less) taxation effect of
Non deductible expenses 27 19
Other permanent differences 16 16
Loss offset with “Other” Business (848) -
Income Tax Attributable to Net Operating Surplus/(Loss) 1,051 1,102
The taxation charge/(credit) is represented by:
Current Taxation/(Credit) 517 761
Deferred Taxation 534 341
1,051 1,102

Deferred taxation is represented by:

1999 $000 1998 $000
Deferred taxation 1 April 1998 1,179 838
Current charge/(credit) 534 341
Deferred taxation liability/(benefit) 1,713 1,179
  1. SHARE CAPITAL
1999 $000 1998 $000
Issued and Paid In Capital
15,000,000 Ordinary Shares 29,311 29,311
  1. ACCOUNTS RECEIVABLE
1999 $000 1998 $000
Trade Debtors 2 2,554
Prepayments 44 34
Other Debtors 3 58
Tax Refund Due 468 115
Provision for Bad Debts (50) (50)
517 2,711
  1. BORROWINGS
1999 $000 1998 $000
CURRENT
Bank Overdraft - 106
Short-term Money Market Facility - 1,225
Term Loan – Current Portion 2,000 1,000
Other Short-term Borrowings - 1,305
2,000 3,636

| NON-CURRENT | | |
| Term Loan | 6,667 | 2,250 |
| | 6,667 | 2,250 |

None of the borrowings are secured over the assets of the Company, although a negative pledge agreement exists. The Term Loans are repayable in monthly installments of $83,333 per month and quarterly installments of $250,000.

Interest rates as at 31 March 1999 for the Term Loan were 5.40% to 6.00%.

  1. ACCOUNTS PAYABLE
1999 $000 1998 $000
Accounts Payable 2,805 1,853
Other Accruals 25 25
Customer Deposits 173 524
Accrued Payroll - 168
2,978 2,570
  1. FIXED ASSETS
Cost $000 Accumulated Depreciation $000 Net Book Value $000
Distribution System 47,538 16,369 31,169
Centralised Load Equipment 317 217 100
Consumer Billing & Information Systems 568 384 184
Vehicles 1,183 630 553
Office Equipment 3,323 2,436 887
Land 895 - 895
Buildings 2,296 559 1,737
Capital Works Under Construction 7,372 840 6,532
63,492 21,435 42,057


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✨ LLM interpretation of page content

🏭 Additional Expenditure Disclosure (continued from previous page)

🏭 Trade, Customs & Industry
Expenditure, transmission charges, asset maintenance, salaries, depreciation

💰 Taxation Details

💰 Finance & Revenue
Taxation, accounting profit, deferred taxation, income tax

💰 Share Capital Information

💰 Finance & Revenue
Share capital, ordinary shares

💰 Accounts Receivable

💰 Finance & Revenue
Accounts receivable, trade debtors, prepayments, tax refund

💰 Borrowings Details

💰 Finance & Revenue
Borrowings, bank overdraft, term loan, interest rates

💰 Accounts Payable

💰 Finance & Revenue
Accounts payable, accruals, customer deposits, accrued payroll

💰 Fixed Assets Details

💰 Finance & Revenue
Fixed assets, distribution system, office equipment, land, buildings