New Zealand Gazette – 2002 – No. 121

Page 3233

✨ Financial Statements

THE POWER COMPANY LIMITED LINE BUSINESS

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2002

1. Operating Revenue

	31 March 2002	31 March 2001
	$000	$000

Operating Revenue Comprises:

Line Charges | 21,189 | 22,622 |
Interest on Investments | 45 | 77 |
Transpower Rebate | 1,493 | 1,228 |
Other Revenue | 574 | 280 |

Total Operating Revenue | 23,301 | 24,207 |

2. Operating Expenses

	31 March 2002	31 March 2001
	$000	$000

Operating Expenses Include:

Auditors Remuneration: |
- Statutory Audit | 28 | 24 |
- Other | - | - |
Bad Debts Written Off | 5 | 4 |
Depreciation | 7,542 | 4,661 |
Directors' Fees | 96 | 100 |
Interest Expense | 452 | 280 |
Lease Costs | - | - |
Loss on Disposal of Fixed Assets | 105 | 48 |

3. Equity

	31 March 2002	31 March 2001
	$000	$000

Capital Reserve | 28,847 | 28,847 |
Asset Revaluation Reserve (see below) | 110,489 | 121,420 |
Retained Earnings | 16,174 | 15,156 |

Total Equity | 155,510 | 165,423 |

Asset Revaluation Reserve

	31 March 2002	31 March 2001
	$000	$000

Opening Balance | 121,420 | - |
Revaluation in the Year | (24,060) | 133,599 |
Reversal/Impact of Deferred tax effect of revaluation | 12,179 | (12,179) |
Other movements | 950 | - |

Closing Balance | 110,489 | 121,420 |

4. Receivables and Prepayments

	31 March 2002	31 March 2001
	$000	$000

Trade Debtors | 1,294 | 296 |
Other Debtors | 258 | 80 |
Prepayments | 87 | 61 |

Total Receivables and Prepayments | 1,639 | 437 |

VUW Te Waharoa — NZ Gazette 2002, No 121

Gazette.govt.nz — NZ Gazette 2002, No 121

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✨ LLM interpretation of page content

🏭 Electricity Information Disclosure for The Power Company Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated7 August 2002
KeywordsElectricity, Information Disclosure, Regulations, The Power Company Limited, Financial Statements, Accounting Policies, Reporting Entity, Measurement Base, Consolidation, Avoidable Cost Allocation, Property, Plant, Equipment, Depreciation, Receivables, Inventories, Income Tax, Work In Progress, Goods And Services Tax, Operating Leases, Employee Entitlements, Changes in Accounting Policies

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