New Zealand Gazette – 2000 – No. 104

Page 2598

✨ Financial Statements



2598
NEW ZEALAND GAZETTE
No. 104

6.2 TABLE OF FIXED ASSETS

Land 2000 1999
Buildings 479 1,202
less Depreciation 3,758 3,444
2,703 2,599
Reticulation System 20,399 20,630
less Depreciation 9,405 8,701
10,994 11,929
Plant and Equipment 1,687 1,659
less Depreciation 1,273 1,236
414 423
Motor Vehicles 284 418
less Depreciation 147 300
137 118
Capital Works under Construction 189 288
Totals 14,916 16,559

Capital work under construction includes transfer payments and purchases from outside organisations as well as from "Other".

8.3 VALUATION

The latest Government valuations for land and improvements dated September 1996 and September 1997 show the following values.

Other Properties Land Improvements
1,580 3,808
  1. CAPITAL CONTRIBUTIONS

Customer capital contributions totalling $65,000 (1999 $78,000) were credited against the cost of reticulation Network assets during the year. As at 31 March 2000 the accumulated value of such contributions credited to fixed assets was $2,206,000 (1999 $2,140,000).

  1. CAPITAL COMMITMENTS

Total capital expenditure committed to but not recognised in the financial statements.

453 141

  1. CONTINGENT LIABILITIES

There are no contingent liabilities as at 31 March 2000. (1999 nil)

  1. FINANCIAL INSTRUMENTS

12.1 CREDIT RISK

Credit risk is the risk that an outside party will not be able to meet its obligations to the company. Financial instruments which potentially subject the company to concentrations of credit risk consist principally of cash deposits, short term deposits and trade receivables. The maximum credit risk is the book value of these financial instruments however, the company considers the risk of non-recovery of these amounts to be minimal.

The company places its cash deposits with high credit quality financial institutions. Credit risk exists in respect to accounts receivable. The Company is able to impose bond requirements on retailers trading across its network in accord with the use of system agreements held with the retailers.

12.2 INTEREST RATE RISK

Interest Rate risk is the risk that interest rates will change, increasing or decreasing the cost of borrowing or lending. The company's short term deposits are at fixed interest rates and mature within one year. Interest rates on non-current borrowing's are linked to the 90 day bank bill rate (National Bank / Bank of New Zealand buy rate).

12.3 CURRENCY RISK

Currency risk is the risk that amounts payable in foreign currencies will change due to movements in exchange rates. The company enters into foreign currency forward exchange contracts in order to manage its exposure to fluctuations in foreign currency exchange rates on the purchase of specific plant and equipment items from overseas suppliers. Total cover under forward exchange contracts at balance date was $nil (1999 $nil).



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 104


Gazette.govt.nz — PDF NZ Gazette 2000, No 104




✨ LLM interpretation of page content

🏭 Marlborough Lines Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Financial Statements, Revenue, Equity, Assets, Liabilities, Marlborough Lines Limited