New Zealand Gazette – 2000 – No. 105

Page 2616

✨ Financial Statements



2616 NEW ZEALAND GAZETTE No. 105

NELSON ELECTRICITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS
for the year to 31 March 2000

3. Taxation

Surplus Before Taxation 2000 1999
$000 $000
Taxation @ 33 % 924 315
Under Provision from Prior Year 10 -
Timing Differences 319 22

Tax Expense as per Statement of financial Performance 1,253 337

Comprising:
Current Taxation 968 80
Deferred Taxation 285 257

                                   1,253   337

4. Deferred Taxation

Balance 1 April 344 87
Deferred Tax Prior Period - 190
Deferred Tax Current Period (285) 67

Balance 31 March 59 344

5. Share Capital

Authorised Issued and Paid up Share Capital 3,702 3,702

6. Retained Earnings

Opening Balance 1 April 830 1,163
Net Surplus for Year 1,548 617
Dividends Paid (1,000) (950)

Closing Balance 31 March 1,378 830

7. Fixed Assets

                                   2000    1999
                                   $000    $000

Land (at cost) 15 15

Buildings (at cost) 175 144
Accumulated Depreciation 65 82

Book Value 110 82

Distribution System 9,352 9,298
Accumulated Depreciation 6,225 5,852

Book Value 3,127 3,446

Plant and Equipment 103 -
Accumulated Depreciation 41 -

Book Value 62 -

Capital Work in Progress 60 -

Total Fixed Assets 3,374 3,543

The most recent Optimised Deprival Valuation undertaken in respect of the Nelson Electricity Ltd network system assets was dated 31 March 1999 and the total value recorded was $14.541m.

The following Government valuations for land and buildings as at 30 Sept 1997 are considered by the Directors to be an indication of fair value.

Land $428,000
Buildings $105,000

Investment in Lease Buy-Out

Cost (see note 11) $2,448,888
Less amortisation $918,998

Capitalised Lease Buy-out Costs as at 31 March 2000 $1,529,890



Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 105


Gazette.govt.nz — PDF NZ Gazette 2000, No 105




✨ LLM interpretation of page content

🏭 Nelson Electricity Limited Notes to the Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Taxation, Deferred Taxation, Share Capital, Retained Earnings, Fixed Assets, Investment in Lease Buy-Out