New Zealand Gazette – 1999 – No. 186

Page 4422

✨ Financial Statements



4422 NEW ZEALAND GAZETTE No. 186

  1. Deferred Expenditure
$Thousands
1999 1998
Balance as at 1 July 1998 9,866 -
Plus Amounts Capitalised - 10,860
Less Amounts Amortised to Expenses (1,325) (994)
8,541 9,866
  1. Accounts Receivable
$Thousands
1999 1998
Trade Debtors 3,649 3,923
Prepayments and Sundry Receivables 5,605 5,684
9,254 9,607
  1. Notional Reserves

Gas Transmission is not a company and therefore has no share capital. Notional Reserves are determined on the basis that Gas Transmission is fully equity funded by Natural Gas Corporation of New Zealand Limited. Notional Reserves therefore represent all funding provided to Gas Transmission by the Natural Gas Corporation Group.

  1. Deferred Income
$Thousands
1999 1998
Balance as at 1 July 1998 5,529 9,828
Other Movements - (2,390)
Less amount amortised to earnings (1,910) (1,909)
3,619 5,529

Deferred income represents contributions from customers as explained in Note 1(d)(v).

  1. Capital Commitments

Capital amounts committed but not recorded in these financial statements total $2.99 million (1998, $1.49 million).

  1. Contingent Liabilities

There are no contingent liabilities, which would have a material adverse effect on these financial statements.



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✨ LLM interpretation of page content

🏭 Natural Gas Corporation - Gas Transmission Activities Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Natural Gas, Financial Performance, Gas (Information Disclosure) Regulations 1997, Accounting Policies, Construction in Progress, Current Assets, Depreciation, Deferred Income, Taxation, Deferred Expenditure