New Zealand Gazette – 2003 – No. 135

Page 3645

✨ Financial Statements



23 SEPTEMBER NEW ZEALAND GAZETTE 3645

2.2 Future Income Tax Benefits / Deferred Taxation

2003 $000 2002 $000
Balance at beginning of year 80 (80)
Prior year adjustments (525) 143
Future benefits (deferred tax) arising on timing differences (1,035) 17
Balance at end of year (430) 80

3. SHARE CAPITAL

3.1

Marlborough Lines’ shares are held by the trustees of the Marlborough Electric Power Trust.

3.2 Share Capital

Issued and Paid up Capital ordinary $1.00 shares

2003 2002
8,736 8,736

3.3 Minority Interests

2003
Balance at beginning of year 53,165
Capital contributions 989
Share of net surplus -
Less dividends paid to minority interest (1,421)
Balance at end of year 52,733

3.4 Contributions from Owners

Contributions from owners related to a transfer by Marlborough Lines' 'Other' business to the 'Lines' Business for the acquisition of OtagoNet.

4. ACCOUNTS RECEIVABLE

The balance of Accounts Receivable comprises:
Network and other trade debtors, incl GST

2003 2002
2,845 1,378

5. INVENTORIES

Reticulation stock - excluding essential spares which are included in System Fixed Assets

2003 2002
287 260

Some inventories are subject to retention of title clauses.

6. CREDITORS AND ACCRUALS

6.1

In current liabilities the balance of payables and accruals comprises:

2003 2002
Trade Creditors and Accruals, incl GST 2,026 1,127
Employee Entitlements 139 190

6.2

In non-current liabilities payables and accruals represent the Company’s liability for retirement gratuities.

7. FIXED ASSETS

7.1 Schedule 1 Part 8

Annual Valuation Reconciliation Report Year ending 31 March 2003

2003 2002
System fixed assets at ODV at 31 March 2002 70,828 69,786
Add system fixed assets acquired during the Year at ODV 60,395 6,166
Less system fixed assets disposed of during the year at ODV (558) (1,233)
Less depreciation on system fixed assets at ODV (4,710) (2,569)
Add revaluations of system fixed assets 17,745 (1,322)
Equals system fixed assets at ODV at 31 March 2003 143,700 70,828

7.2 Table of Fixed Assets as at 31 March 2003

Cost Depreciation Accumulated Depreciation Net Book Value
Land 540 - - 540
Buildings 3,638 (124) (853) 2,785
Reticulation System 122,210 (3,886) (15,553) 106,657
Plant and Equipment 2,241 (187) (1,708) 533
Motor Vehicles 259 1 (180) 79
Capital Works under Construction 1,191 - - 1,191
Totals 130,079 (4,196) (18,294) 111,785


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 135


Gazette.govt.nz — PDF NZ Gazette 2003, No 135




✨ LLM interpretation of page content

🏗️ Marlborough Lines Limited Financial Statements (continued from previous page)

🏗️ Infrastructure & Public Works
Financial Statements, Income Tax, Share Capital, Minority Interests, Accounts Receivable, Inventories, Creditors, Accruals, Fixed Assets, Depreciation