New Zealand Gazette – 2002 – No. 124

Page 3327

✨ Financial Statements



VECTOR Limited

Electricity Lines Business

Notes to the Financial Statements - continued

For the year ended 31 March 2002

| | 2002
$000 | 2001
$000 |
|-----------------------|------------------|------------------|
| 13. PROVISIONS FOR CLAIMS |
| Balance at beginning of year | 4,927 | 30,619 |
| Additions | - | - |
| Used | (2,355) | (13,397) |
| Reversed | (2,371) | (12,295) |
| Balance at end of year | 200 | 4,927 |

The future timing of the outflows of the end of year balance of provisions is uncertain pending settlement of various matters.

14. PROPERTY, PLANT AND EQUIPMENT

System fixed assets

| | 2002
$000 | 2001
$000 |
|--------------------------|-------------|-------------|
| Distribution systems at valuation | 866,587 | 818,000 |
| Distribution land at valuation | 20,240 | 20,047 |
| Distribution buildings at valuation | 16,173 | 16,172 |
| Total | 903,000 | 854,219 |

| Accumulated depreciation | 2002
$000 | 2001
$000 |
|--------------------------|-------------|-------------|
| Distribution systems | (22,987) | - |
| Distribution buildings | (953) | - |
| Total | (23,940)| - |

| Net book value | 879,060 | 854,219 |

Consumer billing and information system assets

| | 2002
$000 | 2001
$000 |
|--------------------------------------|-------------|-------------|
| Consumer billing and information system assets at cost | 59,153 | 56,211 |
| Accumulated depreciation | (28,883) | (23,453) |
| Net book value | 30,270 | 32,758 |

Motor vehicles

| | 2002
$000 | 2001
$000 |
|----------------------|------------|------------|
| Motor vehicles at cost | 371 | 370 |
| Accumulated depreciation | (227) | (190) |
| Net book value | 144 | 180 |

Other fixed assets

| | 2002
$000 | 2001
$000 |
|----------------------|-----------|-----------|
| Other fixed assets | 7,206 | 6,355 |
| Accumulated depreciation | (4,156) | (4,143) |
| Net book value | 3,050 | 2,212 |

Land at cost

| | 2002
$000 | 2001
$000 |
|----------------|-----------|-----------|
| | 212 | 597 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 124


Gazette.govt.nz — PDF NZ Gazette 2002, No 124




✨ LLM interpretation of page content

🏭 Vector Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Financial Statements, Revenue, Expenses, Vector Limited