New Zealand Gazette – 2000 – No. 114

Page 2867

✨ Westpower Limited Financial Statements

30 AUGUST NEW ZEALAND GAZETTE 2867

Note 4. Sundry Debtors

| | 2000
$ '000 | 1999
$ '000 |
|------------------------|------------|-------------|
| Line Charge & Sundry Debtors | 769 | 900 |
| Unread Electricity Meters | 268 | — |
| Advance to ElectroNet Services Limited | 104 | 104 |
| Total | 1,141 | 1,004 |

Note 5. Fixed Assets

| | Cost/
Valuation
$ '000 | Accumulated
Depreciation
$ '000 | Book Value
2000
$ '000 | Book Value
1999
$ '000 |
|-------------------------|-----------------------------|----------------|---------------------|---------------------|
| At Cost: | | | | |
| Distribution System | 1,828 | 42 | 1,786 | — |
| Other | 55 | 9 | 46 | 1,356 |
| Capital Work In Progress| 467 | 0 | 467 | — |
| Subtotal | 2,350 | 51 | 2,299 | 1,356 |
| At Valuation: | | | | |
| Distribution System | 49,072 | 1,488 | 47,584 | 50,332 |
| Land and Buildings | 480 | 0 | 480 | — |
| Total | 51,902 | 1,539 | 50,363 | 51,688 |

Note 6. Borrowings

| | 2000
$ '000 | 1999
$ '000 |
|-----------------------------------|------------|-------------|
| Term Liabilities - Repayable 1-2 years | 9,500 | 12,350 |
| - Repayable 2-5 years | 0 | 0 |
| - Repayable later than 5 years | 402 | 402 |
| Total | 9,902 | 12,752 |

Loans are secured as follows:
Short Term Advance Facility $13,000,000 * | 9,500 | 12,350 |
Various (No Security) | 402 | 402 |
| Total | 9,902 | 12,752 |

Secured by a charge over all assets.

The interest rates payable on these loans are:

Floating Rate - based on 90 day bill rate
Fixed Rates 9.5% - 10.5%

Interest rates on the National Bank Short Term Advance Facility have been hedged using interest rate swaps for varying terms at rates between 7.99% and 8.6% (includes margins).

VUW Te Waharoa — NZ Gazette 2000, No 114

Gazette.govt.nz — NZ Gazette 2000, No 114

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Westpower Limited Financial Statements Notes (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Sundry Debtors, Fixed Assets, Borrowings, Westpower Limited, Electricity

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