New Zealand Gazette – 2000 – No. 120

Page 3050

✨ Financial Statements



3050 NEW ZEALAND GAZETTE No. 120

5 CUSTOMER DEFERRED DISCOUNT AND DIVIDEND

Calculations for deferred discounts paid to each customer were based on their individual line charges calculated for the financial year.

A fully imputed dividend of $1.00 per share ($100 per shareholder) has been declared, the tax being paid from imputation credits available to the company.

6 EQUITY

2000 1999
$ $
a) Shareholders’ equity-
i) Share capital 25,956,173 25,956,173
ii) Retained earnings 2,815,735 2,755,012
iii) Reserves 30,663,221 28,194,798
iv) Total shareholders’ equity 59,435,129 56,905,983
b) Minority interests in subsidiaries 0 0
c) Total equity 59,435,129 56,905,983
d) Capital notes 0 0
e) Total capital funds 59,435,129 56,905,983

There are 23,191,670 deferred shares held by the Ashburton District Council and these have the following conditions attached to them.

(a) There is no right to distributions, dividends or rebates.

(b) There is a right to vote if the rights attached to the deferred shares are to be altered or there is a proposal which would change the control of the Company or the rights of the Council are not carried forward on an amalgamation.

(c) The shares are not transferable except to another local authority or if 25% of the voting shares are controlled by one person.

(d) The right to an equal distribution with the holders of the rebate shares on a winding up of the Company.

7 CURRENT ASSETS

2000 1999
$ $
a) Cash and bank balances 870,963 595,615
b) Short term investments 0 0
c) Inventories 1,225,507 650,000
d) Accounts Receivable 1,814,763* 625,364
e) Other current assets not listed in (a to d) 42,760 320,098
f) Total Current Assets 3,953,993 2,191,077
  • Included in the Trade debtors total is an amount of $50,000 being the residual debt owing for 50,000 shares in RDR Management Limited to be transferred to the Ashburton Community Water Trust.

8 CURRENT LIABILITIES

2000 1999
$ $
a) Bank overdraft 0 2,250,000
b) Short term borrowings 0 0
c) Payables and accruals 3,160,000 3,440,820
d) Provision for dividend payable 1,116,700 0
e) Provision for income tax 0 100,000
f) Other current liabilities not listed in (a to e) 0 0
g) Total Current Liabilities 4,276,700 5,790,820

NON CURRENT LIABILITIES

2000 1999
$ $
a) Payroll and Accruals 0 0
b) Borrowings 0 0
c) Deferred Tax 5,458,289 4,738,649
d) Other Non Current Liabilities Not Listed in (a to c) 7,325 24,523
e) Total Non Current Liabilities 5,465,614 4,763,172


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 120


Gazette.govt.nz — PDF NZ Gazette 2000, No 120




✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
Electricity, Financial Statements, Accounting Policies, Revenue, Depreciation, Income Taxation, Ashburton