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New Zealand Gazette – 2003 – No. 133

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✨ Financial Statements

VECTOR Limited

Electricity Lines Business

Notes to the Financial Statements

For the year ended 31 March 2003

| Notes | 2003
| $000 | 2002
| $000 |
|-------|-------------|-------|-------------|

1. OPERATING REVENUE

Revenue from line/access charges | 338,927 | 228,977 |
Interest on cash, bank balances and short-term investments | 11,495 | 396 |
Other operating revenue | 18,568 | 11,736 |
AC loss-rental rebates | 11,567 | 16,390 |
Gain on sale of property, plant and equipment | 1,034 | 1,917 |

Total operating revenue | 381,591 | 259,416 |

2. OPERATING EXPENSES

Operating line expenses

Depreciation:

System fixed assets | 39,772 | 23,940 |
Buildings | 965 | 8 |
Leasehold improvements | 456 | 458 |
Motor vehicles | 31 | 36 |
Consumer billing and information system assets | 6,184 | 5,439 |
Other fixed assets | 334 | 227 |

Total depreciation | 47,742 | 30,108 |

Amortisation:

Goodwill | 23 | 15,730 |

Total amortisation of intangibles | 15,730 | - |

Specified expenses to non-related parties

Asset maintenance | 32,225 | 19,645 |
Meter data | 32 | 113 |

Total of specified expenses to non-related parties | 32,257 | 19,758 |

Other operating line expenses

Payment for transmission charges | 80,749 | 55,975 |
Avoided transmission charges on account of embedded generation | 3,442 | 2,980 |
Employee salaries, wages and redundancies | 17,562 | 10,327 |
Consumer billing and information system expense | 1,576 | 1,551 |
Net loss on sale of property, plant and equipment | 221 | - |
Corporate and administration | 5,995 | 3,256 |

VUW Te Waharoa — NZ Gazette 2003, No 133

Gazette.govt.nz — NZ Gazette 2003, No 133

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✨ LLM interpretation of page content

🏭 Vector Limited Financial Position Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated31 March 2003
KeywordsElectricity, Financial Statements, Cash Flows, Operating Activities, Investing Activities, Financing Activities, Receipts, Payments, Dividends, Loans, Accounting Policies

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