New Zealand Gazette – 2002 – No. 117

Page 3140

✨ Financial Statements Notes



Notes to the financial statements (continued)

For the year ended 31 March 2002

2002
$'000
3) Operating Expenditure (continued)
(k) Merger and acquisition expenses 2
(l) Takeover defense expenses -
(m) Research and development expenses -
(n) Consultancy and legal expenses 698
(o) Donations -
(p) Directors' fees 133
(q) Auditors' fees:
    (i) audit fees paid to principal auditors 30
    (ii) audit fees paid to other auditors -
    (iii) fees paid for other services provided by principal and other auditors -
    (iv) Total auditors fees 30
(r) Costs of offering credit
    (i) Bad debts written off 2
    (ii) Increase in estimated doubtful debts -
    (iii) Total cost of offering credit 2
(s) Local authority rates 6
(t) AC loss-rentals (distribution to retailers/customers) expense -
(u) Rebates to consumers due to ownership interest -
(v) Subvention payments -
(w) Unusual expenses -
(x) Other expenditure not listed in (a) to (w) 122
Total operating expenditure 16,242

Network assets were previously written off over a period of 25 years. The Company has reviewed the lives of these assets and considers that periods between 40 and 60 years are more appropriate, being periods in line with the ODV handbook. The longer lives have been applied to assets acquired during this period whilst existing assets continue to be depreciated over the shorter period. The effect of this change is that depreciation in this period is $225,000 less than if calculated using the shorter lives.

4) Interest expense

2002
$'000
a) Interest expense on borrowings 1,952
b) Financing charges related to finance leases -
c) Other Interest expense -
d) Total Interest Expense 1,952


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 117


Gazette.govt.nz — PDF NZ Gazette 2002, No 117




✨ LLM interpretation of page content

🏭 Notes to the financial statements for Eastland Network Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Operating Revenue, Operating Expenditure, Accounting