✨ Financial Statements
NEW ZEALAND GAZETTE
No. 69
9. Property, Plant and Equipment
| | 2000
| $000 | 1999
| $000 |
Distribution assets
Land | 334 | 395
Buildings | 787 | 775
Substations | 9,268 | 9,515
Lines | 33,174| 32,632
Switchgear | 5,065 | 5,065
Transformers | 11,769| 11,745
Centralised load control equipment | 1,247 | 602
Work in progress| - | 240
Total distribution assets | 61,644 | 60,969
Non-distribution assets
Land | 125 | 78
Buildings | 281 |
Accumulated depreciation | (43) | (38)
| 238 | 408
Plant and equipment | 3,825 |
Accumulated depreciation | (1,798)| (2,411)
| 2,027 | 2,182
Vehicles | 122 |
Accumulated depreciation | (61) | (95)
| 61 | 109
Other work in progress | - | 27
Total property, plant and equipment | $64,095 | $63,773
Valuation
Land and Buildings, other than those referred to above as being part of distribution assets, are stated at market valuation, as at 31 March 2000 by Darroch and Co (Registered Valuers). The valuations are carried out on a 3 yearly basis.
The Optimised Deprival Value (ODV) at which Distribution Assets are stated was independently assessed by KPMG Peat Marwick as at 1 April 1998. Their report placed an ODV on Distribution Assets of $60,444,000. This value is reflected in Distribution Assets which also includes additions since, at cost of $1,200,000.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 69
Gazette.govt.nz —
NZ Gazette 2000, No 69
✨ LLM interpretation of page content
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Property, Plant and Equipment
(continued from previous page)
💰 Finance & RevenueFinancial statements, Assets, Depreciation, Valuation, Distribution assets, Non-distribution assets