New Zealand Gazette – 2001 – No. 113

Page 2938

✨ Financial Statements Continuation



NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (Continued)

| Line Business | 2001
$000's | 2000
$000's |
| --- | --- | --- |

  1. Reconciliation of Net Surplus After Taxation with Cash Inflow from Operating Activities:

Net Surplus After Taxation | 4,724 | 7,833 |

Add (less) Non Cash Items:
Depreciation | 3,789 | 3,906 |
Movements Deferred Tax | - | (3,276) |

Movements in Working Capital
Increase (Decrease) in Creditors | (595) | (13,240) |
(Increase) Decrease in Taxation Refund | (1,069) | 1,937 |
(Increase) Decrease in Accounts Receivable | (2,164) | 2,010 |
(Increase) Decrease in Inventory | (35) | 1,227 |

Net Cash Flow from Operating Activities | 4,650 | 397 |

  1. Financial Instruments:
    Financial Instruments which potentially subject the company to credit risk principally consist of cash bank balances, short term deposit, and accounts receivable. Northpower does not generally require collateral from customers.

Northpower places its cash and short term deposits with high credit quality financial institutions (A1 or better), and limits the amount of credit exposure to any one institution, in accordance with Company policy.

The fair value of all financial instruments is approximated by the carrying value recorded in the Statement of Financial Position.

  1. Segment Information:
    Northpower Ltd operates predominantly in the electricity network industry within the Northland area. Therefore, there is no segmental information.

  2. Contingent Liabilities:
    There are no contingent liabilities (2000 $Nil)

  3. Commitments:
    | | 2001 | 2000 |
    | --- | --- | --- |
    | | NIl | NIl |

  4. Related Parties:
    The Northpower Electric Power Trust is the sole shareholder.
    Northpower's Contracting Division provided the following services to the Network Division:-

| | 2000
$000'S | 2000
$000's |
| --- | --- | --- |
(i) Maintenance of Assets | 2,370 | 2,509 |
(ii) Consumer disconnections/reconnections | 20 | 10 |
(iii) Other Services | 771 | 878 |

Construction of New Assets:-
(a) Subtransmission Assets | 1,095 | 156 |
(b) Zone Substations | 682 | 0 |
(c) Distribution Lines and Cables | 830 | 433 |
(d) Medium Voltage Switchgear | 126 | 22 |
(e) Distribution Transformers | 984 | 115 |
(f) Low Voltage Reticulation | 402 | 134 |

Network Maintenance and Capital Works are charged in accordance with a Fixed Term Contract.

  1. Term Receivables:
    The Term Receivables are repaid in annual amounts expiring in 2003.


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 113


Gazette.govt.nz — PDF NZ Gazette 2001, No 113




✨ LLM interpretation of page content

🏭 Statement of Financial Position for Northpower Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Position, Equity, Liabilities, Assets, Share Capital, Retained Earnings