New Zealand Gazette – 2001 – No. 117

Page 3017

✨ Financial Statements



5 SEPTEMBER
NEW ZEALAND GAZETTE
3017

Note 4. Sundry Debtors

Line Charge & Sundry Debtors 1,406 1,037
Advance to ElectroNet Services Limited (4) 104

                             1,402      1,141

Note 5. Fixed Assets

                      Cost/     Accumulated   Book Value   Book Value
                      Valuation Depreciation   2001         2000
                      $ '000      $ '000       $ '000       $ '000

At Cost:
Distribution System - - - 1,786
Land and Buildings 25 - 25 -
Other 242 59 183 46
Capital Work In Progress 494 - 494 467

                     761          59        702        2,299

At Valuation:
Distribution System 47,381 - 47,381 47,584
Land and Buildings 480 5 475 480

Total 48,622 64 48,558 50,363

Note 6. Borrowings

                       2001       2000
                       $ '000     $ '000

Term Liabilities - Repayable 1-2 years 8,600 9,500

  • Repayable 2-5 years - -
  • Repayable later than 5 years 402 402
                      9,002      9,902

Loans are secured as follows:
Advance Facility $13,000,000 *
Various (No Security) 8,600 9,500
402 402

                                   9,002      9,902
  • Secured by a charge over all assets.

The interest rates payable on these loans are:
Floating Rate - based on 90 day bill rate
Fixed Rates 9.5% - 10.5%

Interest rates on the National Bank Advance Facility have been hedged using interest rate swaps for varying terms at rates between 7.99% and 8.6% (includes margins).



Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 117


Gazette.govt.nz — PDF NZ Gazette 2001, No 117




✨ LLM interpretation of page content

🏭 Westpower Limited Notes to Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Revenue, Expenses, Taxation, Depreciation