New Zealand Gazette – 2000 – No. 118

Page 2996

✨ Financial Statement

2996
NEW ZEALAND GAZETTE
No. 118

THE LINES COMPANY LIMITED
Line Business Activity
Statement of Financial Performance
For the Year Ended 31 March 2000

Note	2000 $000's	1999 $000's
Income
Line/Access Charges	16,821	8,886
Provision of Goods & Services to 'Other'	0	0
Line Losses	0	0
AC loss-rental Rebates	298	18
Interest	0	0
Other	0	0
Total Income	17,119	8,904
less customer discount	(4,515)	(2,566)
Total Income	12,604	6,338

| Expenditure | | |
| Transfer Payments: | 3 | |
| Payment by Line Busines to "Other" | 1,537 | 1,815 |
| Expense to non-related entities. | 1,042 | 226 |
| Transmission costs | 4,094 | 2,250 |
| Employee salaries/redundances | 847 | 101 |
| Customer Billing and Information System | 36 | 10 |
| Depreciation | | |
| System Fixed Assets | 313 | 79 |
| Other Assets not included in System | 45 | 113 |
| Total Depreciation | 358 | 192 |
| Amortisation of: | | |
| Goodwill | 0 | 0 |
| Other Intangibles | 0 | 0 |
| Total amortisation of intangibles | 0 | 0 |
| Corporate & Administration | 147 | 453 |
| Human Resource | 16 | 6 |
| Marketing & Advertising | 53 | 91 |
| Merger and acquisition expenses | 0 | 0 |
| Takeover defence expenses | 0 | 0 |
| Research and development expenses | 0 | 0 |
| Consultancy & legal expenses | 10 | 1 |
| Donations | 22 | 0 |
| Directors' fees | 79 | 0 |
| Auditors' fees | 4 | 14 | 12 |
| Cost of offering credit | 5 | 37 | 16 |
| Local Authority rates expense | 3 | 0 |
| AC loss-rentals (distribution to customers) expense | 0 | 0 |
| Rebate to consumers due to ownership interest | 0 | 0 |
| Subvention payments | 0 | 0 |
| Unusual expenses | 0 | 0 |
| Other | 471 | 122 |
| Total Expenditure | 8,765 | 5,295 |

| Operating surplus before Interest & Tax | 3,839 | 1,043 |
| Interest Expense on Borrowings | 6 | 982 | 188 |
| Operating surplus before income tax | 2,858 | 855 |
| Tax Expense | 7 | 378 | 32 |
| Net surplus after Tax | 2,479 | 823 |

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