New Zealand Gazette – 2002 – No. 122

Page 3265

✨ Financial Statements



NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (continued)

7 RESERVES

Revaluation reserve

2002 2001
($000) ($000)
Opening balance 317,833 324,161
Transfer arising from disposal of fixed assets - -
Revaluation in respect of provision for obsolescence (2,584) (1,803)
Revaluation to ODV - 8,457
Transfer to retained earnings - (12,982)
Closing balance 315,249 317,833

Retained earnings

2002 2001
($000) ($000)
Opening balance 157,261 111,911
Dividend received from employee share ownership plan 1,390 -
Transfer from revaluation reserve - 12,982
Dividends (53,014) (47,082)
Transferred from statement of financial performance 95,188 79,450
Closing balance 200,825 157,261
Total reserves 516,074 475,094

8 ACCOUNTS RECEIVABLE

2002 2001
Trade receivables 35,034 34,796
Other receivables and prepayments 2,265 2,915
37,299 37,711

9 ACCOUNTS PAYABLE

2002 2001
Trade and other creditors 44,997 43,230
Employee entitlements 496 208
Expenditure provision 988 -
Interest payable 7,216 6,528
53,697 49,966

10 FIXED ASSETS

2002

At cost At valuation Accum deprn Net carrying value
($000) ($000) ($000) ($000)
Freehold land 119 - - 119
Freehold buildings 5,554 - 1,760 3,794
Distribution system 41,921 1,034,417 37,883 1,038,455
Plant, vehicles and equipment 35,639 - 17,413 18,226
Capital work in progress 26,739 - - 26,739
Inventories - critical spares 1,141 - - 1,141
Total 111,113 1,034,417 57,056 1,088,474

2001

At cost At valuation Accum deprn Net carrying value
($000) ($000) ($000) ($000)
Freehold land 119 - - 119
Freehold buildings 9,598 - 1,847 7,751
Distribution system - 1,037,001 - 1,037,001
Plant, vehicles and equipment 43,498 - 25,087 18,411
Capital work in progress 28,260 - - 28,260
Total 81,475 1,037,001 26,934 1,091,542


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 122


Gazette.govt.nz — PDF NZ Gazette 2002, No 122




✨ LLM interpretation of page content

💰 Notes to Financial Statements for the year ended 31 March 2002 (continued from previous page)

💰 Finance & Revenue
Financial Statements, Reserves, Revaluation, Retained Earnings, Accounts Receivable, Accounts Payable, Fixed Assets