New Zealand Gazette – 2001 – No. 165

Page 4026

✨ Financial Statement



4026 NEW ZEALAND GAZETTE No. 165

4. Fixed Assets

$ Thousands 2001 $ Thousands 2000
Cost/ Valuation Accumulated Depreciation Net Book Value Cost/ Valuation Accumulated Depreciation Net Book Value
Pipeline Compressors & Gas Stations 165,438 5,441 159,997 167,144 2,211 164,933
Machinery, Equipment & vehicles 6,537 4,540 1,997 5,056 2,526 2,530
Identifiable Intangible 53,315 2,987 50,328 53,315 1,584 51,731
Work in Progress 346 - 346 925 - 925
Freehold Land & Buildings 1,151 9 1,142 1,141 8 1,133
Total 226,787 12,977 213,810 227,581 6,329 221,252

Pipelines, compressors and gate stations were revalued using the optimised deprival valuation methodology as at 30 June 2000. The valuation was reviewed and certified by Cap Gemini Ernst and Young. Based on the latest Government valuations the Directors estimate that the fair valuation of land and buildings is approximately equivalent to their net book value as at 30 June 2001.

5. Deferred Expenditure

$ Thousands
2001
Balance as at 1 July 1,118
Plus amounts capitalised -
Less amounts amortised to expenses (216)
902

6. Notional Reserves

NGC’s Gas Distribution Activity is not a company and therefore has no share capital. Notional reserves are determined on the basis that Gas Distribution is fully equity funded by Natural Gas Corporation of New Zealand Limited. Notional reserves therefore represent all funding provided to Gas Distribution by the Natural Gas Corporation Group.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 165


Gazette.govt.nz — PDF NZ Gazette 2001, No 165




✨ LLM interpretation of page content

🏭 Natural Gas Corporation Financial Position Statement (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statement, Natural Gas, Fixed Assets, Depreciation, Valuation, Intangible Assets, Work in Progress, Land and Buildings