New Zealand Gazette – 2002 – No. 119

Page 3199

✨ Financial Statements Notes



26 AUGUST
NEW ZEALAND GAZETTE
3199

Note 4. Sundry Debtors

Line Charge & Sundry Debtors 1510 1,406
Advance to ElectroNet Services Limited - (4)
1510 1,402

Note 5. Fixed Assets

                       Cost/      Accumulated   Book Value   Book Value
                       Valuation  Depreciation  2002         2001
                       $ '000     $ '000       $ '000       $ '000

At Cost:
Distribution System 1,743 9 1,734 25
Land and Buildings 229 229 183
Other 313 72 241
Capital Work In Progress 2,694 2,694 494
4,979 81 4,898 702

At Valuation:
Distribution System 48,274 1,463 46,811 47,381
Land and Buildings 480 10 470 475
Total 53,733 1,554 52,179 48,558

Note 6. Borrowings

                        2002       2001
                        $ '000     $ '000

Term Liabilities - Repayable 1-2 years 4,000 8,600

  • Repayable 2-5 years - 0
  • Repayable later than 5 years 402 402
    4,402 9,002

Loans are secured as follows:
Short Term Advance Facility $13,000,000 * 4,000 8,600
Various (No Security) 402 402
4,402 9,002

  • Secured by a charge over all assets.

The interest rates payable on these loans are:
Floating Rate - based on 90 day bill rate
Fixed Rates 9.5% - 10.5%

Interest rates on the National Bank Short Term Advance Facility have been
hedged using interest rate swaps for varying terms at rates between 8.14%
and 8.16% (includes margins).



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 119


Gazette.govt.nz — PDF NZ Gazette 2002, No 119




✨ LLM interpretation of page content

🏭 Westpower Limited Financial Statements Notes (continued from previous page)

🏭 Trade, Customs & Industry
31 March 2002
Financial Statements, Revenue, Expenses, Taxation, Westpower Limited