New Zealand Gazette – 2002 – No. 112

Page 2984

✨ Financial Statements and Valuation Report

NELSON ELECTRICITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

for the year to 31 March 2002

12. Commitments and Contingent Liabilities

As at 31 March 2002 the company had no material commitments or contingent liabilities that are not included in these financial statements. (2001, Nil)

13. Events Subsequent to Balance Date

There were no events subsequent to balance date requiring notification in these financial statements.

14. Industry Restructuring

As a result of agreement reached on 1 April 1999 between Nelson Electricity Ltd, Trans Alta Ltd and Citipower Ltd, the Nelson Electricity Network lease in favour of Citipower was terminated on that date.

Nelson Electricity capitalised the costs of terminating the network lease. This cost has been amortised over the remaining life of the original lease.

The value of the lease termination costs still to be amortised at 31 March 2002 is Nil. (2001, $810,890)

Schedule 4 Part 8

Annual Valuation Reconciliation Report for Year ending 31 March 2002

	31-Mar-02	31-Mar-01
	$000	$000
System Fixed Assets at ODV at 31 March 2001		14,215
Add System Fixed Assets Acquired During the Year at ODV	217	550
Less System Fixed Assets Disposed of During the Year At ODV	(21)	-
Less Depreciation on System Fixed Assets	(528)	(566)
Add Revaluations of System Fixed Assets	-	(32)
Equals System Fixed Assets at ODV at 31 March 2002	13,837	14,167

VUW Te Waharoa — NZ Gazette 2002, No 112

Gazette.govt.nz — NZ Gazette 2002, No 112

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Nelson Electricity Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Commitments, Contingent Liabilities, Events Subsequent to Balance Date, Industry Restructuring

🏭 Annual Valuation Reconciliation Report for Nelson Electricity Limited

Domain🏭 Trade, Customs & Industry
KeywordsValuation Report, System Fixed Assets, Depreciation, Revaluations

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