✨ Financial Statements
1740
NEW ZEALAND GAZETTE
No. 73
Network Tasman Limited
Line Business Financial Statements
Notes to the financial statements
For the year ended 31 March 2001
- Reconciliation of operating surplus after income tax with net cash flows from operating activities
| Operating surplus after income tax | 2001 $000 | 2000 $000 |
|---|---|---|
| Add (less) non-cash items and non-operating items: | ||
| Depreciation and revaluations | 2,641 | 2,500 |
| Movement in deferred taxation | 45 | (32) |
| Vested assets | (1,140) | (1,228) |
| Bad debts written-off | 9 | 9 |
| Change in provision for doubtful debts | (4) | 4 |
| Loss on sale of fixed assets | 63 | 0 |
| Movement in capital expenditure in creditors | 202 | 101 |
| 1,816 | 1,354 | |
| Movement in working capital: | ||
| Increase (decrease) in payables and provisions | 204 | 102 |
| (Increase) decrease in receivables | (70) | (4) |
| Increase (decrease) in taxation payable | (820) | (1,001) |
| (686) | (903) | |
| Net cash flows from operating activities | 5,992 | 4,331 |
- Related parties
Network Tasman Limited disposed of its remaining shareholding in Mainpower Contracting Limited (previously Tasman Electrical Limited) in October 1999. Therefore, there were no related party transactions in the period under review.
| Construction of subtransmission assets | 0 | 0 |
|---|---|---|
| Construction of zone substations | 0 | 0 |
| Construction of distribution lines and cables | 0 | 73 |
| Construction of distribution transformers | 0 | 53 |
| Construction of distribution substations | 0 | 6 |
| Construction of low voltage reticulation | 0 | 58 |
| Construction of other system fixed assets | 0 | 0 |
| Maintenance of assets | 0 | 900 |
| Consumer connections and disconnections | 0 | 57 |
The holding entity of the company is the Network Tasman Trust which holds 100% (2000: 100%) of the company's shares.
Refer to Note 6 for dividends paid to the holding entity.
Network Tasman Limited provided management and administrative services to Nelson Electricity Limited, an associate company, for nominal consideration.
There were no outstanding related party balances as at 31 March 2001 (2000: Nil). No related party debts have been written off or forgiven during the year.
- Segmental Information
For reporting purposes the group operates predominantly in one industry - the distribution of electricity. The operations of the group are carried out in New Zealand and are therefore within one geographical segment for reporting purposes.
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 73
Gazette.govt.nz —
NZ Gazette 2001, No 73
✨ LLM interpretation of page content
🏭
Network Tasman Limited Financial Statements
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Fixed Assets, Valuation, Deferred Taxation, Payables