New Zealand Gazette – 2001 – No. 104

Page 2660

✨ Financial Statements



2660 NEW ZEALAND GAZETTE No. 104

2.5 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (continued)

2001 ($'000) 2000 ($'000)
11 OTHER TANGIBLE ASSETS
Taxation receivable 19,116 8,450
Lease 1,506 1,611
20,622 10,061

Leases comprise

2001 2000
Gross amount 4,733 4,927
Unearned interest 3,159 3,261
Net amount 1,574 1,666
Long term 1,506 1,611
Current 68 55
Interest rate 8.00% 8.00%
Term 40 years 40 years

Relating to floodlighting and high tension reticulation systems and other electrical works at the North Harbour Stadium

2001 2000
12 GOODWILL
Opening balance 1,643 1,731
Amortised during the period (87) (88)
Closing balance 1,556 1,643
2001 2000
13 IDENTIFIABLE INTANGIBLES
Opening balance 518,784 531,523
Adjustment to opening balance 451 648
Amortised during the period (13,389) (13,387)
Closing balance 505,846 518,784
2001 2000
14 BORROWINGS
Borrowings are made up as follows:
Bank loans – current - 6,600
Bank loans – non-current 719,800 873,000
Commercial paper 119,499 -
839,299 879,600

The borrowing repayment terms are:

2001 2000
Payable within 1 year 588,122 6,600
Payable between 1 and 2 years - 100,000
Payable between 2 and 3 years 251,177 773,000
Payable between 3 and 4 years - -
Payable between 4 and 5 years - -
839,299 879,600

All borrowings are unsecured with all bank loans being subject to a negative pledge arrangements.

Included in the borrowings payable within 1 year are bridging loans of $465.6 million which will be refinanced in the long term capital market.

Commercial paper outstanding of $119.5 million has been classified in the Balance Sheet as long term on the expectation that it will be continuously reissued for the foreseeable future.

Interest rates for all loans are floating based on the bank bill rate plus a margin. Interest rate risk is managed by fixed cover as per note 19.

The weighted average interest rate on all borrowings is 7.06% (2000: 7.00%).

The company has not utilised $73.5 million under various bank facilities at balance date.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 104


Gazette.govt.nz — PDF NZ Gazette 2001, No 104




✨ LLM interpretation of page content

🏭 Notes to Financial Statements for UnitedNetworks (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Other Tangible Assets, Leases, Goodwill, Identifiable Intangibles, Borrowings, Interest Rates, Repayment Terms