✨ Financial Statements
VECTOR Limited
Electricity Lines Business
Notes to the Financial Statements
For the year ended 31 March 2001
| 2001 | 2000 | |
|---|---|---|
| $000 | $000 |
10. RESERVES
Asset revaluation
Balance at beginning of year
417,559 | 417,559
Decrease arising from revaluation of distribution fixed assets
(11,713) | -
Balance at end of year
405,846 | 417,559
11. RETAINED EARNINGS
Balance at beginning of year
19,811 | 23,262
Net surplus for the period
63,672 | 41,602
Net surplus attributable to the shareholders of the company
83,483 | 64,864
Dividends
(48,000) | (45,053)
Balance at end of year
35,483 | 19,811
12. BORROWINGS
Repayable:
| Interest rates: | 2001 | 2000 | |
|---|---|---|---|
| Within one year | 6.4% to 6.5% | 26,484 | - |
| One to Two years | 7.1% | 104,810 | - |
| Two to five years | 7.1% | - | 104,810 |
Less short-term borrowings
26,484
Total borrowings
104,810 | 104,810
Debt issued of $131.3 million (2000: $104.8 million) is secured by way of negative pledge over the assets of the VECTOR group of which the line business is the predominant activity within the group.
13. PAYABLES AND ACCRUALS
| 2001 | 2000 | |
|---|---|---|
| Trade payables, other creditors and provisions | 31,146 | 44,316 |
| CBD network restoration costs | 4,227 | 13,039 |
| Interest payable | 3,416 | 3,848 |
| Employee entitlements | 1,315 | 1,512 |
| 40,104 | 62,715 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 105
Gazette.govt.nz —
NZ Gazette 2001, No 105
✨ LLM interpretation of page content
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Vector Limited Notes to the Financial Statements
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Operating Revenue, Continuing Activities, Discontinued Activities, Income Tax, Reserves, Asset Revaluation, Retained Earnings, Borrowings, Payables and Accruals