New Zealand Gazette – 2000 – No. 129

Page 3255

✨ Financial Statements

13 SEPTEMBER NEW ZEALAND GAZETTE 3255

BULLER ELECTRICITY LIMITED – LINE BUSINESS

	2000	1999
	$	$

Office Equipment

Cost | 76,665 | 76,608 |
Accumulated Depreciation | (31,984)| (23,871)|
Net Book Value | 44,681 | 52,737 |

Motor Vehicles

Cost | 38,973 | 66,178 |
Accumulated Depreciation | (10,789)| (17,906)|
Net Book Value | 28,184 | 48,272 |

Other

Cost | 47,953 | 34,320 |
Depreciation | (33,516)| (23,534)|
Net Book Value | 14,437 | 10,786 |
Capital Works Under Construction | 0 | 754 |
Total Net Book Value | 13,155,731 | 13,551,031 |

The System Fixed Assets were revalued by PriceWaterhouseCoopers on 1 April 1998 to a value of $13,774,807 on an optimised depreciated replacement cost basis.

5 FINANCIAL INSTRUMENTS

Credit Risk

i In the normal course of business the company incurs credit risks being cash, bank deposits and debtors transactions with consumers and financial institutions.

ii The company does not have any significant concentration of credit risks. It does not require any security to support investments as it only banks with those institutions that have high credit ratings.

iii The company has a policy that minimises its credit exposure by limiting the amount of cash and short term investments placed with any one financial institution at any one time.

iv Buller Electricity Limited has no exposure to currency risk.

6 SEGMENTAL REPORTING

Buller Electricity operates predominantly in one industry, distribution of electricity. All operations are carried out within New Zealand and are therefore within one geographical segment for reporting purposes.

7 RELATED PARTIES

The related parties of Buller Electricity Limited are the Buller Electric Power Trust and Buller Energy Limited.

i The company is 100% owned by the Buller Electric Power Trust. During the year the company:

- paid the Trust $1,195,575 as a dividend compared to $160,000 the previous year
- provision has been made in the accounts for payment of a dividend of $42,000

ii All directors are customers of Buller Electricity and supply is provided to them under standard terms and conditions.

VUW Te Waharoa — NZ Gazette 2000, No 129

Gazette.govt.nz — NZ Gazette 2000, No 129

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✨ LLM interpretation of page content

🏭 Notes to and forming part of the Financial Statements for Buller Electricity Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Accounting Policies, Revenue, Receivables, Investments, Fixed Assets, Depreciation, Employee Entitlements, GST, Income Tax, Financial Instruments, Cashflows

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