New Zealand Gazette – 2002 – No. 115

Page 3078

✨ Financial Summary



3078 NEW ZEALAND GAZETTE No. 115

Totals for all asset classes

2002 $000's 2001 $000's
At valuation 419,491 419,292
At cost 70,031 25,341
Work in progress 6,583 14,117
Accumulated depreciation (33,911) (16,744)
Carrying value 462,194 442,006

System fixed assets includes substation buildings of $8,965,000 (2001: $6,912,000). Land and buildings includes network land of $8,328,000 (2001: $8,222,000).

Revaluation

All the company's property, plant and equipment was revalued to net current value as at 31 March 2000.

The electricity distribution system was revalued on an optimised deprival value basis and was certified by independent valuers, Ernst and Young. Land and buildings were revalued to net current value by the registered valuers, Ernst and Young. All other plant and equipment was revalued to net current value on the basis of net book values and certified by independent valuers, Ernst & Young.

Depreciation has been applied to the assets for the year ended 31 March 2002 in accordance with the company's accounting policies.

  1. ACCOUNTS PAYABLE AND ACCRUALS

A summary of accounts payable and accruals is as follows:

2002 2001
Trade creditors 9,428 11,687
Accruals 6,088 6,854
Employee entitlements 1,153 1,167
Dividends payable - -
Income tax payable - -
Provisions 2,579 3,432
19,248 23,140


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 115


Gazette.govt.nz — PDF NZ Gazette 2002, No 115




✨ LLM interpretation of page content

💰 Property, Plant and Equipment Summary (continued from previous page)

💰 Finance & Revenue
Financial Summary, Property, Plant, Equipment, Valuation, Depreciation

💰 Accounts Payable and Accruals Summary

💰 Finance & Revenue
Financial Summary, Accounts Payable, Accruals, Trade Creditors, Employee Entitlements, Provisions