New Zealand Gazette – 2002 – No. 121

Page 3234

✨ Financial Statements and Commitments



  1. Property, Plant and Equipment
Cost or Valuation Accumulated Depreciation 31.3.2002 31.3.2001
$000 $000 $000 $000
System Fixed Assets 166,725 7,885 158,840 176,870
Customer Billing & Information System Assets 23 19 4 6
Motor Vehicles 36 25 11 27
Office Equipment 1,322 897 425 255
Land & Buildings 491 151 340 1,882
Plant & Equipment 624 311 313 222
Total Property, Plant and Equipment 169,221 9,288 159,933 179,262

Directors consider book value to be an indication of the fair value of Land and Buildings.

  1. Accounts Payable and Provisions
31 March 2002 31 March 2001
$000 $000
Accounts Payable and Accruals 3,548 3,571
Provision for Employee Entitlements 129 122
Total Accounts Payable and Provisions 3,677 3,693
  1. Reconciliation of Net Surplus After Taxation with Cashflow from Operating Activities
31 March 2002 31 March 2001
$000 $000
Net Surplus After Tax 1,121 4,105
Add Non Cash Items
Depreciation and Loss on Sale 7,647 4,709
Movement in Deferred Tax (492) 17
8,276 8,831

Plus/(Less) Movement in Working Capital Items:
| (Increase)/Decrease in Accounts Receivable | (1,176) | 44 |
| Increase in Prepayments | (26) | 2 |
| (Increase)/Decrease in Stock | (133) | 36 |
| (Increase)/Decrease in Provision for Tax | (276) | 100 |
| Increase/(Decrease) in Accounts Payable and Provisions | (16) | (32) |

| Net Cash From Operating Activities | 6,649 | 8,981 |

  1. Commitments

Capital Commitments

Easement Agreements
The Power Company Limited has signed easement agreements for the purpose of constructing a line on private property. Compensation values have been agreed with the terms of payment being 50% payment on the signing of the agreement and the remaining 50% payable upon registration of easement on land title. The commitment outstanding at 31 March 2002 is $14,900 (2001 $3,000).

GIS Mapping Project
PowerNet Limited had commitments relating to the GIS Mapping Project. The Power Company Limited’s share of these commitments as at 31 March 2002 is Nil (2001 $6,000).



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 121


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




✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
7 August 2002
Electricity, 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, Property, Plant and Equipment, Accounts Payable, Provisions, Net Surplus After Taxation, Cashflow from Operating Activities, Commitments, Capital Commitments, Easement Agreements, GIS Mapping Project