New Zealand Gazette – 2002 – No. 127

Page 3411

✨ Financial Statements



30 AUGUST NEW ZEALAND GAZETTE 3411

2002 2001
$'000 $'000

1.8 Financial Instruments

Financial instruments carried in the statement of financial position include cash and bank balances, receivables and trade creditors. These instruments are generally carried at their estimated fair value. For example receivables are carried net of estimated doubtful receivables.

  1. INCOME TAX EXPENSE
Net Profit / (Deficit) before Tax as per Accounts (505) 3,606
Non deductible costs 52 40
Taxable Income (453) 3,646
Taxation charge @ 33% (149) 1,197
Adjusted Deferred tax provision 31 March 2001 68 26
Deferred tax provision 31 March 2002 (80) (4)
Tax Expense (Benefit) (161) 1,219
  1. SHARE CAPITAL

3.1 Marlborough Lines shares are held by the trustees to the Marlborough Electric Power Trust.

3.2 Share Capital

Issued and Paid up Capital ordinary $1.00 shares | 8,736 | 8,736 |

  1. ACCOUNTS RECEIVABLE

The balance of Accounts Receivable comprises:

Network and other trade debtors, inc GST | 1,378 | 2,740 |

  1. INVENTORIES

Reticulation stock (some inventories are subject to retention of title clauses) | 1,582 | 1,431 |

  1. CREDITORS AND ACCRUALS

6.1 In current liabilities the balance of payables and accruals comprises:
Trade Creditors and Accruals 1,127 1,157
Employee Entitlements 190 114

6.2 In non-current liabilities payables and accruals represent the Company's liability for retirement gratuities.

  1. FIXED ASSETS

7.1 Valuation

The latest Government valuations for land and improvements dated September 1999 show the following values.
Land 1,587 1,587
Improvements 3,417 3,417

7.2 Schedule 1 Part 8

Annual Valuation Reconciliation Report Year ending 31 March 2002
System fixed assets at ODV at 31 March 2001 69,786 69,291
Add system fixed assets acquired during the Year at ODV 6,166 2,342
Less system fixed assets disposed of during the year at ODV (1,233) -
Less depreciation on system fixed assets at ODV (2,569) (2,662)
Add revaluations of system fixed assets (1,322) 815
Equals system fixed assets at ODV at 31 March 2002 70,828 69,786


Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 127


Gazette.govt.nz — PDF NZ Gazette 2002, No 127




✨ LLM interpretation of page content

🏭 Marlborough Lines Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Financial Performance, Operating Revenue, Operating Expenditure, Marlborough Lines Limited