New Zealand Gazette – 2002 – No. 93

Page 2509

✨ Buller Electricity Financial Statements



6 AUGUST
NEW ZEALAND GAZETTE
2509

Buller Electricity Limited
Line Business Financial Statements

Office Equipment 2002 $ 2001 $
Cost 76,679 79,599
Accumulated Depreciation (46,400) (40,415)
Net Book Value 30,279 39,184
Motor Vehicles 2002 $ 2001 $
Cost 38,973 38,973
Accumulated Depreciation (21,312) (16,051)
Net Book Value 17,661 22,922
Other 2002 $ 2001 $
Cost 67,905 48,042
Depreciation (58,940) (39,498)
Net Book Value 8,965 8,544

Total Net Book Value | 13,344,680 | 13,335,297 |

The System Fixed Assets were revalued as at 31 March 2001 by A C Consulting Group Limited under the comprehensive audit carried out by the Commerce Commission to a value of $13,120,880 on an optimised depreciated replacement cost basis. Land and Buildings were revalued by Coast Valuation Limited on 31 March 2001.

5 SEGMENTAL REPORTING

Buller Electricity operates predominantly in one industry, distribution of electricity. All operations are carried out within New Zealand and are therefore within one geographical segment for reporting purposes.

6 RELATED PARTIES

The related parties of Buller Electricity Limited are the Buller Electric Power Trust, Buller Energy Limited and Buller Communications Limited.

(i) The company is 100% owned by the Buller Electric Power Trust. During the year the company:

  • paid the Trust $240,000 as a dividend relating to the previous years provision
  • provision has been made in the accounts for payment of a dividend of $240,000

(ii) Buller Electricity Limited purchased line construction services at cost from its contracting division for the period 1 April 2001 to 31 March 2002. Buller Electricity Limited purchased maintenance services at cost plus a margin from its contracting division for the period 1 April 2001 to 31 March 2002. At year end there were no outstanding balances for related parties and no debts were written off or forgiven during the year.

2002 $ 2001 $
Construction of subtransmission assets 12,992 32,020
Construction of zone substations 0 0
Construction of distribution lines and cables 122,745 85,116
Construction of medium voltage switchgear 24,071 64,128
Construction of distribution transformers 26,511 108,216
Construction of distribution substations 16,316 46,308
Construction of low voltage reticulation 14,355 24,545
Construction of other system fixed assets 138,368 4,140
Maintenance of assets 808,171 412,907
Consumer connections and disconnections 1,441 1,925
Other Services 5,953 1,337


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 93


Gazette.govt.nz — PDF NZ Gazette 2002, No 93




✨ LLM interpretation of page content

🏭 Certification of Financial Statements and Performance Measures by Buller Electricity Limited (continued from previous page)

🏭 Trade, Customs & Industry
30 July 2002
Financial Statements, Performance Measures, Electricity, Certification, Buller Electricity Limited, Accounting Policies