✨ Financial Statements
Notes to and Forming Part of the Financial Statements
For the Year Ending 31 March 2002
7 PROPERTY, PLANT AND EQUIPMENT
Property, Plant and Equipment as at 31 March 2002
| Line 2002 $000 | Line 2001 $000 | |
|---|---|---|
| Land | ||
| Capital value | - | 2,565 |
| Buildings | | |
| Capital value | - | 7,908 |
| less Accumulated depreciation | - | 183 |
| | - | 7,725 |
| Information Systems| | |
| Capital value | 5,562 | 472 |
| less Accumulated depreciation | 385 | 47 |
| | 5,197 | 425 |
| Office Equipment | | |
| Capital value | - | 9,482 |
| less Accumulated depreciation | - | 1,026 |
| | - | 8,456 |
| Motor Vehicles | | |
| Capital value | - | 2,505 |
| less Accumulated depreciation | - | 653 |
| | - | 1,852 |
| Network Systems | | |
| Capital value | 393,089 | 393,278 |
| less Accumulated depreciation | 15,933 | 8,300 |
| | 377,156 | 384,978 |
| Work in Progress | 7,851 | 6,263 |
| Total Property, Plant and Equipment | $390,604 | $412,264 |
Annual Valuation Reconciliation Report
| Opening System Property, Plant and Equipment at ODV | 374,105 | 386,514 |
| Add system fixed assets acquired | 18,984 | 4,785 |
| Less depreciation | 15,933 | 8,300 |
| Add revaluations | - | (10,874) |
| Closing System Property, Plant and Equipment at ODV | 377,156 | 374,105 |
8 TAXATION
Taxation for the year ended 31 March 2002
| Line 2002 12 mths $000 | Line 2001 7 mths $000 | |
|---|---|---|
| Operating surplus before taxation | 43,512 | 13,841 |
| Prima facie taxation @ 33% | 14,359 | 4,568 |
| Plus/(less) tax effect of permanent timing differences | - | 1,218 |
| Taxation expense | $14,359 | $5,786 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 129
Gazette.govt.nz —
NZ Gazette 2002, No 129
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Powerco Limited Notes to the Financial Statements
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