New Zealand Gazette – 2000 – No. 71

Page 1605

✨ Financial Notes



28 JUNE NEW ZEALAND GAZETTE 1605

                        2000
                        $000                            1999
                        $000

Note 6 : Term Liabilities

Deferred Tax liability
Balance at beginning of year 1,650 -
Movement from income tax charge - -

Balance at end of year 1,650 -

Term Debt
Balance at beginning of year 115,000 -
Current year borrowing - -
Current year repayment (3,000) -

Balance at end of the year 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:

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 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 4,658 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 - -
Increase/(Decrease) in Deferred Tax Liability 1,650 -

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 71


Gazette.govt.nz — PDF NZ Gazette 2000, No 71




✨ LLM interpretation of page content

💰 Notes to the Accounts for 2000 and 1999 (continued from previous page)

💰 Finance & Revenue
Financial Statements, Term Liabilities, Deferred Tax, Term Debt, Commitments, Reconciliation of Net Surplus, Cashflows