✨ Financial Statements and Valuation Report
20 AUGUST
NEW ZEALAND GAZETTE
2821
NELSON ELECTRICITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
for the year to 31 March 2003
Interest Rate risk
Interest rate risk is the risk that interest rates will change, increasing or decreasing the cost of borrowing or lending. The company’s short term deposits are at fixed interest rates and mature within one year. The company has the opportunity to vary interest rates on its non current borrowings on such terms as it selects. The interest rate applying to the company’s current borrowings is disclosed in note 9.
Currency Risk
The company has no present exposure to risks arising from movement in exchange rates. (2002, Nil)
12. Commitments and Contingent Liabilities
As at 31 March 2003 the company had no material commitments or contingent liabilities that are not included in those financial statements. (2002, Nil)
13. Events Subsequent to Balance Date
There were no events subsequent to balance date requiring notification in these financial statements.
14. Industry Restructuring
As a result of agreement reached on 1 April 1999 between Nelson Electricity Ltd, Trans Alta Ltd and Citipower Ltd, the Nelson Electricity Network lease in favour of Citipower was terminated on that date.
Nelson Electricity capitalised the costs of terminating the network lease. This cost was amortised over the remaining life of the original lease and was completed as at 31 March 2002.
Schedule 4 Part 8
Annual Valuation Reconciliation Report for Year ending 31 March 2002
| 31-Mar-03 $000 | 31-Mar-02 $000 | |
|---|---|---|
| System Fixed Assets at ODV at 31 March 2002 | 13,837 | 14,167 |
| Add System Fixed Assets Acquired During the Year at ODV | 297 | 217 |
| Less System Fixed Assets Disposed of During the Year At ODV | (90) | (21) |
| Less Depreciation on System Fixed Assets | (513) | (526) |
| Add Revaluations of System Fixed Assets | ||
| Equals System Fixed Assets at ODV at 31 March 2002 | 13,531 | 13,837 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 107
Gazette.govt.nz —
NZ Gazette 2003, No 107
✨ LLM interpretation of page content
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Nelson Electricity Limited Financial Performance
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Interest Rate Risk, Currency Risk, Commitments, Contingent Liabilities, Industry Restructuring, Nelson Electricity Limited
🏭 Annual Valuation Reconciliation Report for Nelson Electricity Limited
🏭 Trade, Customs & IndustryValuation, Fixed Assets, Depreciation, Revaluation, Nelson Electricity Limited