✨ Financial Statements
2920
NEW ZEALAND GAZETTE
No. 116
WEL ENERGY GROUP LIMITED
Line Business
2000 1999
($000s) ($000s)
Fixed Assets (continued)
Distribution System
Cost 20,155 10,438
Valuation 127,380 127,380
147,535 137,818
Accumulated depreciation values
Cost (777) (207)
Valuation (7,388) (3,694)
Net book value 139,370 133,917
Total before assets under construction
146,189 140,440
Capital assets under construction
604 1,569
Consumer billing & information system assets
-
-Other fixed assets - -
Total net book value 146,793 142,009
Land and Buildings were revalued on 31 March 1998 by Ford Valuations Limited Registered Valuers.
The distribution system was revalued on 31 March 1998 by Sinclair Knight Merz (NZ) Limited (trading as Leyland Consultants).
Buildings at cost represents the amount paid to Hamilton City Council in 1989 for the use of substations buildings. This amount is being depreciated over a period of 33 years.
Centralised load control equipment 1,073 1,105
(included as part of the distribution system)
8 Current liabilities
Bank overdraft & short term borrowings - -
Trade creditors 2,244 1,363
Provision for annual and long
service leave 218 163
Provision for dividend 5,701 724
Provision for tax 1,809 59
Other current liabilities 285 366
10,257 2,675
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 116
Gazette.govt.nz —
NZ Gazette 2000, No 116
✨ LLM interpretation of page content
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Wel Energy Group Limited Financial Statements
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Fixed Assets, Distribution System, Depreciation, Net Book Value, Land and Buildings, Valuation, Revaluation, Depreciation, Centralised Load Control Equipment, Current Liabilities, Bank Overdraft, Trade Creditors, Annual Leave, Long Service Leave, Dividend, Tax