✨ Financial Statements
3142
NEW ZEALAND GAZETTE
No. 117
Notes to the financial statements (continued)
For the year ended 31 March 2002
10) Fixed assets
System fixed assets at cost 83,713 51,101
Less accumulated depreciation (20,431) (17,780)
63,282 33,321
Customer billing & information system assets at cost 466 310
Less accumulated depreciation (261) (132)
205 178
Motor vehicles at cost 199 164
Less accumulated depreciation (114) (70)
85 94
Office equipment at cost 406 472
Less accumulated depreciation (309) (348)
97 124
Land & building at cost - 136
Land and buildings at valuation 1,048 696
Less accumulated depreciation (51) (19)
997 813
Capital works under construction at cost 5,818 25
Other plant and equipment at cost 1,366 897
Less accumulated depreciation (995) (478)
371 419
Total fixed assets 70,855 34,974
Valuation
Revalued freehold land and buildings on hand at balance date are stated at net current value as determined by an independent registered valuer Roger Kelly ANZIV of the firm Valuation & Property Services in February 2002.
Network assets have been valued at Optimised Depreciated Replacement Cost as confirmed by Kerslake and Partners, Consulting Engineers, as at 31 March 2002.
Capitalised Interest
The Capital works programme undertaken during the year was partly financed from borrowings. Interest incurred on these borrowing during the period of construction has been capitalised being recognition that borrowing cost was part of the cost of the resulting assets. The total amount of interest capitalised in this manner is $128,000.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 117
Gazette.govt.nz —
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 & IndustryFinancial Statements, Fixed Assets, Valuation, Capitalised Interest
- Roger Kelly, Independent registered valuer