New Zealand Gazette – 2002 – No. 133

Page 3584

✨ Financial Statements Notes



NOTES TO THE FINANCIAL STATEMENTS

| | 2002
$'000 | 2001
$'000 |
|----------------|-------------|-------------|

Note 8: Accounts Payable

  • GST clearing account | 0 | 0 |
  • Trade creditors | 569 | 317 |
  • Other creditors & accruals | 233 | 131 |
    | 802 | 448 |

Note 9: Reconciliation of Cash Flow with Operating Surplus

Reported surplus after taxation | 98 | 218 |

Add Non Cash Items

  • Depreciation | 266 | 313 |
  • Change in deferred tax provision | 89 | 43 |

Changes in Working Capital

  • Increase/(decrease) in accounts payable & accruals | 354 | 124 |
  • (Increase)/decrease in accounts receivable | (174)| 229 |
  • (Increase)/decrease in inventories | 9 | (9)|
  • Increase/(decrease) in employee entitlements | 12 | (4)|
  • Increase/(decrease) in provision for taxation | 97 | (102)|
  • Increase/(decrease) in provision for dividend | (40) | (5) |

Items Classified as Investing Activities

  • Net (surplus)/loss on disposal of property, plant and equipment | 0 | 7 |

Net Cash Flow from Operating Activities | 709 | 814 |

Note 10: Wind Generation Project

SCANPOWER Limited has a 10% interest in The Wind Farm Company which holds a resource management consent to erect and operate wind turbines near Woodville.

Note 11: Analysis of non-cancellable operating lease commitments

Payable 2002 2001
Payable not later than one year 10 0
Payable later than one year, not later than two years 10 0
Payable later than two years, not later than five years 18 0
Payable later than five years 0 0
38 0

Note 12: Environmental Policy

SCANPOWER endeavours to adhere to a sustainable use policy with a minimum of environmental disturbance and desecration. To date, SCANPOWER is unaware of any of its projects or operations that would not meet the above policy nor any environmental regulations currently in existence in New Zealand.

Note 13: Capital Commitments and Contingent Liabilities

As at 31 March 2002 the company did not have any capital commitments or contingent liabilities (2001 also Nil).

Note 14: Segment Information

SCANPOWER sold its energy retailing business on 30 November 1998 and now operates in one industry which is the management of a distribution network and is entirely within New Zealand.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 133


Gazette.govt.nz — PDF NZ Gazette 2002, No 133




✨ LLM interpretation of page content

🏭 Scanpower Limited Financial Statements for the Lines Business (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Accounts Payable, Cash Flow, Wind Generation, Environmental Policy, Capital Commitments