New Zealand Gazette – 2000 – No. 96

Page 2406

✨ Financial Statements



2406 NEW ZEALAND GAZETTE No. 96

notes to and forming part of the financial statements

CentralPower Limited

6. Unsecured Loans

2000 1999
$000's $000's
Bank Loans
Fixed-term loan with Bank of New Zealand 0 3,150
Short-term advances facility with The National Bank of New Zealand Limited 0 754

Schedule of maturities:
Due within 1 year: | 0 | 3,904 |

The interest rate on the fixed-term loan with Bank of New Zealand was 8.11%.

7. Asset Revaluation Reserve

2000
$000's
Opening balance 68,557
Revaluation during the year 4,339
Deferred tax liability resulting from movement in reserves (8,410)
Disposal of revalued assets (352)
Closing balance 64,134

8. Fixed Assets

2000 1999
$000's $000's
Land and buildings 3,168 3,098
System fixed assets 136,113 129,510
Consumer billing and information systems 660 970
Motor vehicles 72 104
Office equipment 260 396
Plant 477 126
140,750 134,204

Fixed assets are classified as follows:

2000 1999
$000's $000's
Current fixed assets 3,285 0
Non-current fixed assets 137,465 134,204
140,750 134,204

Current fixed assets in the current year comprise land and buildings that the Company intends to realise. These properties are valued at the lower of cost or valuation.

Valuations

Freehold non-current land and buildings have been revalued and are stated at net current value as determined by an independent registered valuer Mr G J Blackmore (FNZIV), of the firm Blackmore and Associates Limited, as at 31 January 2000. Additions and disposals for the period 1 February 2000 to 31 March 2000 have been added to the valuation at cost. Depreciation has been calculated on the opening valuation (performed as at 31 January 1999) for those assets held at the start of the period and on the cost for those assets acquired during the year.

Network lines and equipment have been revalued and are stated at Optimised Deprival Value (ODV) as determined by Worley Consultants Limited, registered valuers, and Mr C S Rice, of the firm PricewaterhouseCoopers, as at 31 January 2000. Depreciation has been calculated on the opening valuation (performed as at 31 January 1999) for those assets held at the start of the period and on the cost for those assets acquired during the year.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 96


Gazette.govt.nz — PDF NZ Gazette 2000, No 96




✨ LLM interpretation of page content

🏭 Operating Surplus Before Taxation for the Year (continued from previous page)

🏭 Trade, Customs & Industry
Operating Revenue, Expenditure, Financial Performance, CentralPower Limited