✨ Financial Statements Notes
4552
NEW ZEALAND GAZETTE
No. 163
2.4 NOTES TO THE FINANCIAL STATEMENTS
7 Property, plant and equipment continued
The directors consider that the fair value of freehold land is equal to its book value and was included in the 31 March 2003 valuation accordingly.
The distribution system property, plant and equipment was revalued to $214.2m as at 31 March 2003. Subsequent additions are stated at cost. The basis of valuation was depreciated replacement cost. This valuation was undertaken in conjunction with Meritec consulting engineers.
| As at 30 Jun 2003 ($000) | As at 31 Dec 2002 ($000) | |
|---|---|---|
| 8 Goodwill | ||
| Opening balance | 152,822 | 274,133 |
| Goodwill disposed of during the period | - | 107,353 |
| Amortised during the period | 4,430 | 13,958 |
| Balance at end of period | 148,392 | 152,822 |
9 Accounts payable
Trade creditors | 33 | 843
Other creditors and accruals | 3,253 | 3,727
Employee entitlements | 34 | 24
Interest payable | 3,316 | 3,389
Balance at end of period | 6,636 | 7,983
10 Employee entitlements
Balance at beginning of period | 24 | 43
Movement during period | 10 | (19)
Balance at end of period | 34 | 24
11 Borrowings
Medium term notes - fixed rate NZ$ | 80,963 | 81,239
Medium term notes - floating rate A$ | 231,582 | 232,537
| 312,545 | 313,776
The borrowing repayment terms are:
Payable within 1 year | - | -
Payable between 1 and 2 years | - | -
Payable between 2 and 3 years | - | -
Payable between 3 and 5 years | 210,799 | 81,239
Payable after 5 years | 101,746 | 232,537
| 312,545 | 313,776
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 163
Gazette.govt.nz —
NZ Gazette 2003, No 163
✨ LLM interpretation of page content
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Notes to the Financial Statements
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🏭 Trade, Customs & IndustryFinancial Statements, Property, Plant and Equipment, Goodwill, Accounts Payable, Employee Entitlements, Borrowings