New Zealand Gazette – 2000 – No. 159

Page 4080

✨ Financial Statements

4080 NEW ZEALAND GAZETTE No. 159

5 Fixed Assets

| | $ Thousands | | $ Thousands |
| --- | --- | --- | --- | --- | --- |
| | 2000 | | 1999 |
| | Cost/
Valuation | Accumulated
Depreciation | Net Book
Value | Cost/
Valuation | Accumulated
Depreciation | Net Book
Value |
| Pipeline Compressors
& Gas Stations | 167,144 | 2,211 | 164,933 | 98,908 | 2,826 | 96,082 |
| Machinery,
Equipment & vehicles | 5,056 | 2,526 | 2,530 | 3,867 | 2,020 | 1,847 |
| Identifiable Intangible | 53,315 | 1,584 | 51,731 | - | - | - |
| Work in Progress | 925 | - | 925 | - | - | - |
| Freehold Land & Buildings | 1,141 | 8 | 1,133 | 49 | 6 | 43 |
| | 227,581 | 6,329 | 221,252 | 102,824 | 4,852 | 97,972 |

Pipelines, compressors and gate stations were revalued using the optimised deprival valuation methodology as at 30 June 2000. The valuation was reviewed and certified by Cap Gemini Ernst and Young. Based on the latest Government valuations the Directors estimate that the fair valuation of land and buildings is approximately equivalent to their net book value as at 30 June 2000.

6 Deferred Expenditure

| | $ Thousands |
| --- | --- | --- |
| | 2000 | 1999 |
| Balance as at 1 July | 1,183 | 1,376 |
| Plus amounts capitalised | 151 | - |
| Less amounts amortised to expenses | (216) | (193) |
| | 1,118 | 1,183 |

7 Notional Reserves

NGC’s Gas Distribution Activity is not a company and therefore has no share capital. Notional reserves are determined on the basis that Gas Distribution is fully equity funded by Natural Gas Corporation of New Zealand Limited. Notional reserves therefore represent all funding provided to Gas Distribution by the Natural Gas Corporation Group.

VUW Te Waharoa — NZ Gazette 2000, No 159

Gazette.govt.nz — NZ Gazette 2000, No 159

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🌾 Income Tax Expense (continued from previous page)

Domain🌾 Primary Industries & Resources
KeywordsIncome Tax Expense, Surplus before Taxation, Permanent Differences, Prior Period Adjustments

💰 Fixed Assets Valuation

Domain💰 Finance & Revenue
KeywordsFixed Assets, Valuation, Pipeline Compressors, Machinery, Intangible Assets, Freehold Land, Buildings

💰 Deferred Expenditure

Domain💰 Finance & Revenue
KeywordsDeferred Expenditure, Capitalisation, Amortisation

💰 Notional Reserves

Domain💰 Finance & Revenue
KeywordsNotional Reserves, Gas Distribution, Equity Funding

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