New Zealand Gazette – 1999 – No. 169

Page 4014

✨ Financial Statements



NEW ZEALAND GAZETTE

No. 169

STATEMENT OF FINANCIAL PERFORMANCE

for the year ended 31 March 1999

| | Note | 1999
| | | $000 | | 1998
| | | $000 |
|----------------|------|-------|
| Revenue | 3 | 15,583| | 15,751|
| Less: Expenses | 4 |(11,561)| |(12,206)|
| Operating surplus before interest and taxation | 2 | 4,022 | | 3,545 |
| Less : Interest expense | 4 | (8) | | (10) |
| Operating surplus before taxation | | 4,014 | | 3,535 |
| Less : Taxation expense | 5 | (1,321)| | (1,092)|
| Operating surplus after taxation | | 2,693 | | 2,443 |

The accompanying notes are an integral part of these financial statements.

STATEMENT OF MOVEMENTS IN EQUITY

for the year ended 31 March 1999

| | Note | 1999
| | | $000 | | 1998
| | | $000 |
|------------------------|------|-------|
| Equity at beginning of year | | 17,891| | 16,023|
| Re-allocation of Equity (Note *) | | (3,580)| | 0 |
| Adjusted equity at beginning of year | | 14,311 | | 16,023|
| Add:
| Net surplus for the year | | 2,693 | | 2,443 |
| Revaluation of Fixed Assets | 12 | 86 | | (138) |
| Total recognised revenues and expenses for the year | | 2,779 | | 2,305 |
| Distribution to shareholders | | (765) | | (437) |
| Equity at end of year | | 16,325 | | 17,891 |

*Note : The Electricity (Information Disclosure) Regulations 1999 require the 1999 financial statements for the Lines business to be derived using the avoidable cost allocation methodology (ACAM). As this is different to the methodology used in previous years for statements prepared under the 1994 regulations, a consequent adjustment is required to opening equity.

The accompanying notes are an integral part of these financial statements.



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✨ LLM interpretation of page content

🏭 Statement of Financial Performance for the year ended 31 March 1999 (continued from previous page)

🏭 Trade, Customs & Industry
Financial Performance, Revenue, Expenses, Operating Surplus, Taxation, Eastland Network Limited

🏭 Statement of Movements in Equity for the year ended 31 March 1999 (continued from previous page)

🏭 Trade, Customs & Industry
Equity, Re-allocation, Net Surplus, Revaluation, Fixed Assets, Distribution to Shareholders, Eastland Network Limited