New Zealand Gazette – 2000 – No. 124

Page 3153

✨ Financial Statements Notes



8 SEPTEMBER NEW ZEALAND GAZETTE 3153

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (Continued)

Line Business 2000 1999
$000's $000's

  1. Reconciliation of Net Profit After Taxation with Cash Inflow from Operating Activities:

    Reported Surplus After Taxation 7,833 2,429

    Add (less) Non Cash Items:
    Depreciation 3,906 2,595
    Movements Deferred Tax (3,276) 1,349

    Movements in Working Capital
    Increase (Decrease) in Creditors (13,240) 8993
    (Increase) Decrease in Taxation Refund 1,937 689
    (Increase) Decrease in Accounts Receivable 2,010 599
    (Increase) Decrease in Inventory 1,227 323
    Net Cash Flow from Operating Activities $397 $16,977

  2. Financial Instruments:
    Financial instruments which potentially subject the company to credit risk principally consist of cash bank balances, short term deposit, and accounts receivable. Northpower does not generally require collateral from customers.

    Northpower places its cash and short term deposits with high credit quality financial institutions (A1 or better), and limits the amount of credit exposure to any one institution, in accordance with Company policy.

    The following methods and assumptions were used to estimate the fair value of each class of financial instrument: bank balances, short term deposits and receivables.
    The carrying amount is the fair value for each of these classes of financial instrument.

  3. Segment Information:
    Northpower Ltd operates predominantly in the electricity network industry within the Northland area. Therefore, there is no segmental information.

  4. Contingent Liabilities:
    There are no contingent liabilities (1999 $Nil)

  5. Commitments:
    | | 2000 | 1999 |
    |-----------------|-------|-------|
    | | Nil | Nil |

  6. Related Parties:
    The Northpower Electric Power Trust is the sole shareholder.

    Northpower's Contracting Division provided the following services to the Network Division:

    2000
    $000's
    (i) Maintenance of Assets 2,509
    (ii) Consumer disconnections/reconnections 10
    (iii) Other Services 878

    Construction of New Assets:
    (a) Subtransmission Assets 156
    (b) Distribution Lines and Cables 433
    (c) Medium Voltage Switchgear 22
    (d) Distribution Transformers 115
    (e) Low Voltage Reticulation 134

    Network Maintenance and Capital Works are charged in accordance with a Fixed Term Contract.

  7. Term Receivables:
    The Term Receivables are repaid in annual amounts expiring in 2003.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 124


Gazette.govt.nz — PDF NZ Gazette 2000, No 124




✨ LLM interpretation of page content

🌾 Northpower Limited Statement of Cash Flows (continued from previous page)

🌾 Primary Industries & Resources
30 August 2000
Electricity, Financial Statements, Cash Flows, Operating Activities, Investing Activities, Financing Activities, Northpower Limited