✨ Financial Statements
BULLER ELECTRICITY LIMITED – LINE BUSINESS
| 2001 $ | 2000 $ | |
|---|---|---|
| Office Equipment | ||
| Cost | 79,599 | 76,665 |
| Accumulated Depreciation | (40,415) | (31,984) |
| Net Book Value | 39,184 | 44,681 |
| Motor Vehicles | | |
| Cost | 38,973 | 38,973 |
| Accumulated Depreciation | (16,051) | (10,789) |
| Net Book Value | 22,922 | 28,184 |
| Other | | |
| Cost | 48,042 | 47,953 |
| Depreciation | (39,498)| (33,516)|
| Net Book Value | 8,544 | 14,437 |
| Total Net Book Value | 13,335,297 | 13,155,731 |
The System Fixed Assets were revalued by A C Consulting Group Limited on 31 March 2001 to a value of $13,219,371 on an optimised depreciated replacement cost basis. Land and Buildings were revalued by Coast Valuation Limited on 31 March 2001.
5 SEGMENTAL REPORTING
Buller Electricity operates predominantly in one industry, distribution of electricity. All operations are carried out within New Zealand and are therefore within one geographical segment for reporting purposes.
6 RELATED PARTIES
The related parties of Buller Electricity Limited are the Buller Electric Power Trust and Buller Energy Limited.
(i) The company is 100% owned by the Buller Electric Power Trust. During the year the company:
- paid the Trust $42,000 as a dividend relating to the previous years provision
- provision has been made in the accounts for payment of a dividend of $240,000
(ii) Buller Electricity Limited purchased line construction and maintenance services at cost from its contracting division for the period 1 April 2000 to 31 March 2001. At year end there were no outstanding balances for related parties and no debts were written off or forgiven during the year.
| 2001 $ | 2000 $ | |
|---|---|---|
| Construction of subtransmission assets | 32,020 | 0 |
| Construction of zone substations | 0 | 90,776 |
| Construction of distribution lines and cables | 85,116 | 43,044 |
| Construction of medium voltage switchgear | 64,128 | 7,547 |
| Construction of distribution transformers | 108,216 | 753 |
| Construction of distribution substations | 46,308 | 2,519 |
| Construction of low voltage reticulation | 24,545 | 16,129 |
| Construction of other system fixed assets | 4,140 | 0 |
| Maintenance of assets | 412,907 | 695,776 |
| Consumer connections and disconnections | 1,925 | 4,157 |
| Other Services | 1,337 | 13,380 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 99
Gazette.govt.nz —
NZ Gazette 2001, No 99
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Buller Electricity Limited - Financial Statements
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