New Zealand Gazette – 2003 – No. 140

Page 3742

✨ Financial Statements



NELSON ELECTRICITY LIMITED

Statement of Financial Performance for the 12 Months Ended 31 March 2003

Notes 2003 Line Business $000 2002 Line Business $000

INCOME
Interest received 87 78
Network revenue 6,610 6,784
Other income 210 564
6,907 7,426

EXPENDITURE
Operations and maintenance 688 450
Transmission charges 1,797 1,684
Directors fees 52 45
Audit fees 17 10
Other administration 656 351
Interest expense 65 63
Depreciation 575 606
Amortisation of lease buy-out 14 0
3,850 3,820

SURPLUS BEFORE TAXATION

| |3,057|3,606|

| Provision for Taxation | 3 |1,180|1,522|

SURPLUS AFTER TAXATION

| |1,877|2,084|

Statement of Movements in Equity for the Year Ended 31 March 2003

2003 Line Business $000 2002 Line Business $000
Equity at Beginning of Year 14,426 3,323

Surplus and Revaluations

| Revaluations | 0 |11,219|
| Net Surplus for Period | 1,877 | 2,084|
| Total Recognised Revenues and Expenses| 1,877 |13,303|

Other Movements

| Distributions to Owners |(1,700)|(2,200)|
| Share Repurchase | - | - |
| Total Other Movements |(1,700)|(2,200)|

Equity at End of Year |

| |14,603|14,426|

The Accompanying Notes form an Integral part of These Financial Statements



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 140


Gazette.govt.nz — PDF NZ Gazette 2003, No 140




✨ LLM interpretation of page content

🏭 Statement of Financial Performance for Nelson Electricity Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Performance, Income, Expenditure, Surplus, Taxation, Equity Movements, Nelson Electricity Limited