New Zealand Gazette – 2001 – No. 118

Page 3051

✨ Financial Report Details

5 SEPTEMBER
NEW ZEALAND GAZETTE
3051

The contracting division of Electricity Ashburton Limited has provided the following services at cost, including overheads, for the period 1 April 2000 to 31 March 2001

Construction of distribution lines & cables	2001 $	2000 $
Construction of medium voltage switchgear	5,078,623	2,535,165
Construction of distribution transformers	0	382,487
Construction of distribution substations	83,902	757,858
Construction of low voltage lines and cables	484,354	3,328,144
Construction of other system fixed assets	279,952	209,738
Maintenance of assets	670,489	1,117,141
Consumer connections and reconnections	0	0
Other services	27,250	22,361

No amounts have been forgiven or written off, and no amounts remain outstanding at the end of the period.

17 RECONCILIATION OF NET SURPLUS TO NET CASH FLOW FROM OPERATING ACTIVITIES

Reported Net profit after tax 671,501 177,423

Add Non Cash items:
Movement in Deferred Taxation 878,031 719,640
Depreciation 2,757,821 2,778,774
4,307,353 4,675,837

Add (less) Movements in Working Capital items
Decrease (Increase) in Tax Receivable 42,760 177,338
Decrease (Increase) in Receivables (18,838) (1,189,399)
Decrease (Increase) in Inventories (518,954) (575,507)
(Decrease) Increase in Accounts Payable 1,606,568 (280,820)
(Decrease) Increase in Tax Payable 211,179 0
1,322,715 (1,868,388)

Add (less) Items Classified as Investing Activities
Prior Year Adjustment (43,652) 0

Net Cash Flows from Operating Activities 5,586,416 2,807,449

18 ANNUAL ODV VALUATION RECONCILIATION

Opening Book Value 61,829,582 61,604,319
Additions - Less Disposals 3,870,431 7,524,772
Depreciation (2,399,179) (2,367,932)
Revaluation (31.03.01) 3,497,613 (4,931,577)
Closing Book Value 66,798,447 61,829,582

The ODV valuation amounting to $68,663,315 includes a valuation for distribution system inventory amounting to $1,864,868. In preparing these regulation financial statements inventory has been recorded at cost and not at the ODV valuation figure.

VUW Te Waharoa — NZ Gazette 2001, No 118

Gazette.govt.nz — NZ Gazette 2001, No 118

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

💰 Electricity Ashburton Limited Financial Report (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Report, Electricity Ashburton Limited, Construction, Maintenance, Net Surplus, ODV Valuation

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