New Zealand Gazette – 2001 – No. 115

Page 2986

✨ Financial Statements Notes

2986 NEW ZEALAND GAZETTE No. 115

Notes to the financial statements (continued)

For the year ended 31 March 2001

	2001	2000
	$'000	$'000

16) Net Cash Flow from Operating Activities

The following is a reconciliation between the surplus after taxation shown in the statement of financial performance and the net cash flow from operating activities.

Surplus after taxation 3,963 3,850

Add/(less) items classified as investing/financing activities:
Add/(less) non-cash items
Depreciation 2,096 1,799
Decrease in future tax benefit 2 -
Loss(gain) on disposal of assets 85 -
Reallocation of equity - 42
2,183 1,841

Add/(less) movement in working capital
Decrease/(increase) in trade debtors and other receivables 58 (348)
Decrease/(increase) in inventories - 57
(Decrease)/increase in trade creditors and other payables 536 1,020
(Decrease)/increase in Income Tax payable (800) -

Net cash flow from operations 5,940 6,420

17) Subordinated Debt

In accordance with the Establishment Plan creating Eastland Network Ltd (formerly Eastland Energy Limited) as an energy company under the Energy Companies Act 1992, Eastland Energy Community Trust provided the Company with loan finance of $10,000,000. This debt is subordinate to all other liabilities of the Company, and is interest free.

Discussions are continuing with the Trust as to the future of this debt. Options being considered include payment of interest and refinancing of debt.

18) Contingent Liabilities

As at 31 March 2001, The Company has a contingent liability of $112,299 (2000: $137,300) in respect of Subdivision Developers’ Rebates on sections that are reticulated but undeveloped. The individual liabilities will be brought to charge as a section is developed and line charges become payable.

VUW Te Waharoa — NZ Gazette 2001, No 115

Gazette.govt.nz — NZ Gazette 2001, No 115

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

💰 Notes to the financial statements (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Cash Flow, Operating Activities, Subordinated Debt, Contingent Liabilities

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