New Zealand Gazette – 2003 – No. 133

Page 3603

✨ Financial Statements



19 SEPTEMBER
NEW ZEALAND GAZETTE
3603

VECTOR Limited
Electricity Lines Business

Notes to the Financial Statements
For the year ended 31 March 2003

Notes 2003 $000 2002 $000
2. OPERATING EXPENSES - CONTINUED
Human resource expenses 365 840
Marketing/advertising 1,425 1,143
Consultancy and legal expenses 4,405 2,402
Rental expense on operating leases 1,200 1,415
Total other operating line expenses 116,940 79,889
Total operating line expenses 212,669 129,755
Costs of offering credit
Bad debts written off 256 868
Increase in estimated doubtful debts (136) (120)
Total cost of offering credit 120 748
Governance expenses
Directors fees 252 212
Total governance expenses 252 212
Auditors fees
Audit fees paid to principal auditors – PwC 120 59
Fees paid for other services provided by principal auditors and other auditors – PwC 22 126 337
Total auditors fees 246 396
Sundry expenses
Donations 10 -
AC loss - rentals (distribution to retailers/customers) expense 11,567 16,390
Local authority rates and expenses 3,297 2,435
Total sundry expenses 14,874 18,825
Other expenditure 22,091 (2,800)
Total operating expenditure 250,252 147,136

| Operating surplus before interest and income tax | 131,339 | 112,280 |
| Interest expense on borrowings/total interest expense | (68,206) | (9,376) |
| Operating surplus before income tax | 63,133 | 102,904 |
| Income tax | (31,611) | (40,044) |
| Net surplus after tax | 31,522 | 62,860 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 133


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




✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
31 March 2003
Electricity, Financial Statements, Operating Expenses, Governance Expenses, Auditors Fees, Interest Expense, Income Tax