✨ Financial Statements
NELSON ELECTRICITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
for the year to 31 March 2001
11. Commitments and Contingent Liabilities
As at 31 March 2001 the company had no material commitments or contingent liabilities that are not included in these financial statements. (2000, Nil)
12. Events Subsequent to Balance Date
There were no events subsequent to balance date requiring notification in these financial statements.
13. Industry Restructuring
As a result of agreement reached on 1 April 1999 between Nelson Electricity Ltd, Trans Alta Ltd and Citipower Ltd, the Nelson Electricity Network lease in favour of Citipower was terminated on that date.
Nelson Electricity capitalised the costs of terminating the network lease. This cost has been amortised over the remaining life of the original lease.
The value of the lease termination costs still to be amortised at 31 March 2001 is $610,890. (2000, $1,529,890)
Schedule 4 Part 8
Annual Valuation Reconciliation Report for Year ending 31 March 2001
| 2001 | 2000 | |
|---|---|---|
| $'000 | $'000 | |
| System Fixed Assets at ODV at 31 March 2001 | 14,215 | 14,541 |
| Add | ||
| System Fixed Acquired During the Year at ODV | 550 | 208 |
| Less | ||
| System Fixed Assets Disposed off During the Year at ODV | (566) | - |
| Less | ||
| Depreciation on System Fixed Assets | - | (534) |
| Add | ||
| Revaluations of System Fixed Assets | (32) | - |
Equals System Fixed Assets at ODV at 31 March 2001 | $14,167 | $14,215 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 114
Gazette.govt.nz —
NZ Gazette 2001, No 114
✨ LLM interpretation of page content
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Nelson Electricity Limited Financial Position Statement
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Commitments, Contingent Liabilities, Events Subsequent to Balance Date, Industry Restructuring, Lease Termination, Valuation Reconciliation