New Zealand Gazette – 1999 – No. 164

Page 3926

✨ Financial Statements



3926
NEW ZEALAND GAZETTE
No. 164

BULLER ELECTRICITY LIMITED ■ LINE BUSINESS

STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEAR ENDED MARCH 31 1999

Line Business 1999 $ Note 1998 $
Operating Revenue 4,099,242 (10) 3,563,495
Operating Expenses 3,322,377 (10) 2,894,421
Surplus Before Taxation 776,865 669,074
Taxation 256,365 (6) 230,381
Net Surplus after Tax 520,500 438,693

STATEMENT OF MOVEMENTS IN EQUITY
FOR THE YEAR ENDED MARCH 31 1999

Line Business 1999 $ Note 1998 $
Equity at Start of Year 4,617,031 4,373,244
Net Surplus for the Year 520,500 438,693
Increases in Revaluation Reserves 8,893,652 0
Total Recognised Revenues and Expenses for the Year 9,414,152 438,693
Reallocation of Equity (See below) 1,529,059
Distribution to Owners during the Year 258,762 194,906
Equity at End of Year 15,301,480 4,617,031

Note: The allocation of equity between the lines business and other business activities has been revised. This has been done in accordance with the avoidable cost methodology as required by the Electricity Information Disclosure Handbook.

The accompanying notes form part of these financial statements



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