New Zealand Gazette – 2001 – No. 121

Page 3173

✨ Financial Statements



10 SEPTEMBER
NEW ZEALAND GAZETTE
3173

1.6 Employee Entitlements
Employee entitlements to salaries and wages, annual and long service leave and other benefits are recognised when they accrue to employees. Allowance is made for the present value of future staff retirement gratuity benefits. The calculations provide also for the probability of the employees completing the appropriate period of service.

1.7 Financial Instruments
Financial instruments carried in the statement of financial position include cash and bank balances, receivables, trade creditors and borrowings. These instruments are generally carried at their estimated fair value. For example receivables are carried net of estimated doubtful debts.

  1. SHARE CAPITAL
    2.1 Marlborough Lines shares are held by the trustees to the Marlborough Electric Power Trust.

2.2 Share Capital
Issued and Paid up Capital ordinary $1.00 shares
8,736 8,736

  1. ACCOUNTS RECEIVABLE
    The balance of Accounts Receivable comprises:
    Network and other trade debtors, inc GST
    2,740 1,594

  2. INVENTORIES
    Reticulation stock
    1,431 1,291
    Some inventories are subject to retention of title clauses.

  3. CREDITORS AND ACCRUALS
    5.1 In current liabilities the balance of payables and accruals comprises:
    Trade Creditors and Accruals
    1,157 2,567
    Employee Entitlements
    114 43
    5.2 In non-current liabilities the balance of payables and accruals comprises employee entitlements, recognising the Company’s liability for retirement gratuities.

  4. FIXED ASSETS
    6.1 Valuation
    The latest Government valuations for land and improvements dated September 1999 show the following values.
    Land
    1,587
    Improvements
    3,417

6.2 Schedule 1 Part 8
Annual Valuation Reconciliation Report Year ending 31 March 2001
$000
System fixed assets at ODV at 31 March 2000
69,291
Add system fixed assets acquired during the Year at ODV
2,341
Less system fixed assets disposed of during the year at ODV
2,662
Add revaluations of system fixed assets
815
Equals system fixed assets at ODV at 31 March 2001
69,786



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 121


Gazette.govt.nz — PDF NZ Gazette 2001, No 121




✨ LLM interpretation of page content

🏭 Marlborough Lines Limited Financial Statements Notes (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Accounting Policies, GST, Income Tax, Receivables, Inventories, Fixed Assets, Depreciation, Marlborough Lines Limited