New Zealand Gazette – 2000 – No. 122

Page 3072

✨ Financial Notes and Liabilities



3072 NEW ZEALAND GAZETTE No. 122

Note 6 : Term Liabilities

Deferred Tax liability

Balance at beginning of year
Movement from income tax charge
Adjustment for prior year deferred tax liability

Balance at end of year

Term Debt

Balance at beginning of year
Current year borrowing
Current year repayment

Balance at end of the year

2000 1999
$000 $000
3,709 -
8,600 -
12,309 -
115,000 -
(3,000) -
112,000 -

The Line Business has a borrowing facility allowing it to draw funds up to the amount of $115 million. At year-end, $112.0 million had been drawn on the facility.

The weighted average interest rate on the advances at 31 March 2000 was 7.14%.

The repayment period on the advances is between 2 and 10 years as follows:

Period Amount ($000)
1 - 2 years 17,000
2 - 5 years 15,000
5 years and greater 80,000
112,000

In addition a call facility exists with a floating interest rate.

Note 7 : Commitments

As at 31 March 2000, capital expenditure contracted for was $2,035,000 (1999: $116,472,792).

Note 8 : Reconciliation of Net Surplus for the Year to Date Cashflows from Operating Activities

2000 1999
$000 $000
Net profit after tax 2,599 5,769
Items not Involving Cashflows
Depreciation 6,261 3,174
Impact of Changes in Working Capital Items
(Increase)/Decrease in Accounts Receivable 7,201 (8,254)
(Increase)/Decrease in Inventories (125) 87
Increase/(Decrease) in Tax Refund - -
Increase/(Decrease) in Taxation Payable (4,032) 87
Increase/(Decrease) in Accounts Payable 1,009 3,015
Increase/(Decrease) in Term Liabilities - (85)
Gain on Sale of Assets - (33)
Increase/(Decrease) in Deferred Tax Liability 3,709 -
--------- --------
Net Cash Inflows/(Outflows) From Operating Activities 16,622 3,760


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 122


Gazette.govt.nz — PDF NZ Gazette 2000, No 122




✨ LLM interpretation of page content

💰 Notes to the Accounts (continued from previous page)

💰 Finance & Revenue
Deferred Tax Liability, Term Debt, Borrowing Facility, Interest Rate, Repayment Period, Capital Expenditure, Net Surplus, Cashflows, Operating Activities