✨ Financial Statements
WEL NETWORKS LIMITED
| Line Business | ||
|---|---|---|
| 2001 | 2000 | |
| ($000s) | ($000s) |
Fixed Assets (continued)
Distribution System
Cost
- 20,155
Valuation
154,133
127,380
154,133
147,535
Accumulated depreciation values
Cost
- (777)
Valuation
- (7,388)
Net book value
154,133
139,370
Total before assets under construction
159,854
145,227
Capital assets under construction
419
604
Consumer billing & information system assets
Other fixed assets
Cost
1,355
1,355
Accumulated depreciation
(475)
(393)
Net book value
880
962
Total net book value
161,153
146,793
Land and Buildings were revalued on 31 March 2001 by Knight Frank Limited Registered Valuers.
The distribution system was revalued on 31 March 2001 by Sinclair Knight Merz (NZ) Limited (trading Leyland Consultants).
Other fixed assets represent the amount paid to Hamilton City Council in 1989 for the use of substation buildings. This amount is being depreciated over a period of 33 years.
Centralised load control equipment
(included as part of the distribution system)
1,283
1,073
8 Current liabilities
Bank overdraft & short term borrowings
Trade creditors
3,520
2,244
Provision for annual and long service leave
196
218
Provision for dividend
3,382
5,701
Provision for tax
- 1,809
Other current liabilities
414
285
Total current liabilities
7,512
10,257
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 110
Gazette.govt.nz —
NZ Gazette 2001, No 110
✨ LLM interpretation of page content
🏭
Statement of Accounting Policies for WEL Networks Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Fixed Assets, Distribution System, Valuation, Depreciation, Current Liabilities