New Zealand Gazette – 2002 – No. 127

Page 3412

✨ Financial Statements



3412 NEW ZEALAND GAZETTE No. 127

7.3 Table Of Fixed Assets

as at 31 March 2002

cost accumulated depreciation net book value
Land 442 - 442
Buildings 2,948 (789) 2,159
Reticulation System 24,541 (11,608) 12,933
Plant and Equipment 2,014 (1,520) 494
Motor Vehicles 308 (218) 90
Capital Works under Construction 372 - 372
Totals 30,625 (14,135) 16,490

as at 31 March 2001

cost accumulated depreciation net book value
Land 377 - 377
Buildings 2,954 (697) 2,257
Reticulation System 22,143 (10,488) 11,655
Plant and Equipment 1,882 (1,556) 326
Motor Vehicles 302 (179) 123
Capital Works under Construction 158 - 158
Totals 27,816 (12,920) 14,896

Capital work under construction includes transfer payments and purchases from outside organisations as well as from "Other".

8. PROVISIONS

The following movements were recorded in provision held by the business during the 2001/2002 financial year:

opening balance movement closing balance
Provision for dividend 100 (100) -
Provision for doubtful debts 12 - 12
Provision for staff leave 114 76 190
Provision for retirement gratuities 42 10 52

9. CAPITAL COMMITMENTS

9.1 Capital Commitments

Capital expenditure committed to but not recognised in the financial statements.

2002 2001
473 248

9.2 Lease Commitments

Commitments under present lease agreements over the next five years are as follows:

  • 2003 - $12,714; 2004 - $12,714; 2005 - $12,714; 2006 - $3,372; 2007 - $3,372

The Company will continue to incur lease costs for a number of substation and repeater sites beyond 2007. The lease costs for these sites can not be quantified at the present time.

10. CONTINGENCIES

The company has no contingent assets or liabilities as at 31 March 2002. (2001 Nil)

11. FINANCIAL INSTRUMENTS

11.1 Credit Risk

Credit risk is the risk that an outside party will not be able to meet its obligations to the company. Financial instruments which potentially subject the company to concentrations of credit risk consist principally of cash deposits, short-term deposits and trade receivables. The maximum credit risk is the book value of these financial instruments however, the company considers the risk of non-recovery of these amounts to be minimal. The Company places its cash deposits with high credit quality financial institutions. Credit risk exists in respect of accounts receivable. The Company is able to impose bond requirements on retailers trading across its network in accord with the use of systems agreements held with the retailers.



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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, Fixed Assets, Provisions, Capital Commitments, Contingencies, Financial Instruments, Marlborough Lines Limited