New Zealand Gazette – 2002 – No. 111

Page 2962

✨ Financial Statements Notes



NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (Continued)

Line Business
2002 2001
$000's $000's

  1. Reconciliation of Net Surplus After Taxation with Cash Inflow from Operating Activities:
    Net Surplus After Taxation

    | | 4,932 | 4,724 |

    Add (less) Non Cash Items:
    Depreciation

    | | 3,806 | 3,789 |

    Movements in Working Capital
    Increase (Decrease) in Creditors

    | | (187) | (595) |

    (Increase) Decrease in Taxation Refund

    | | 324 | (1,069) |

    (Increase) Decrease in Accounts Receivable

    | | (162) | (2,164) |

    (Increase) Decrease in Inventory

    | | 11 | (35) |

    Net Cash Flow from Operating Activities

    | | 8,724 | 4,650 |

  2. Financial Instruments:
    Financial Instruments which potentially subject the company to credit risk principally consist of cash bank balances, short term deposit, and accounts receivable. Northpower does not generally require collateral from customers.

    Northpower places its cash and short term deposits with high credit quality financial institutions (A1 or better), and limits the amount of credit exposure to any one institution, in accordance with Company policy.

    The fair value of all financial instruments is approximated by the carrying value recorded in the Statement of Financial Position.

  3. Segment Information:
    Northpower Ltd operates predominantly in the electricity network industry within the Northland area. Therefore, there is no segmental information.

  4. Contingent Liabilities:
    There are no contingent liabilities (2001 $Nil)

  5. Commitments:
    | | 2002 | 2001 |
    |------------------|--------------------|------------------|
    | | Nil | Nil |

  6. Related Parties:
    The Northpower Electric Power Trust is the sole shareholder.
    Northpower’s Contracting Division provided the following services to the Network Division:-

    2002 2001
    $000's $000's
    (i) Maintenance of Assets 2,688 2,370
    (ii) Consumer disconnections/reconnections 0 20
    (iii) Other Services 960 771

    Construction of New Assets:
    (a) Subtransmission Assets | 948 | 1,095 |
    (b) Zone Substations | 602 | 682 |
    (c) Distribution Lines and Cables | 71 | 830 |
    (d) Medium Voltage Switchgear | 117 | 126 |
    (e) Distribution Transformers | 189 | 384 |
    (f) Distribution Substations | 0 | 0 |
    (g) Low Voltage Reticulation | 237 | 402 |

    Network Maintenance and Capital Works are charged in accordance with a Fixed Term Contract.

  7. Term Receivables:
    The Term Receivables are repayable in annual amounts expiring in 2003.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 111


Gazette.govt.nz — PDF NZ Gazette 2002, No 111




✨ LLM interpretation of page content

🏭 Northpower Limited's Financial Statements - Notes to Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Notes, Reconciliation, Financial Instruments, Segment Information, Contingent Liabilities, Commitments, Related Parties, Term Receivables, Electricity