New Zealand Gazette – 2003 – No. 93

Page 2397

✨ Financial Statements and Valuation Information



6 AUGUST
NEW ZEALAND GAZETTE
2397

Valuation Information

Distribution System Assets
Distribution system assets, were revalued to $98,671,000 at 31 March 2003, which was outside the normal three year cycle revaluation policy. The next revaluation will occur for the year ending 31 March 2004 in line with the existing revaluation policy cycle. As the fair value of the assets is not able to be reliably determined using market based evidence the valuation was prepared on a depreciated replacement cost basis. The valuation was prepared by Meritec Limited.

Land and Buildings
The major property holding of the Company comprises the depot complex at Glasgow Road and Nelson Street, Pukekohe. This property was valued as at 1 September 2000 by Value and Management Services Limited as part of a General Revaluation by the Franklin District Council. This valuation amounted to $1,975,000. The accounting book value in the Financial Statements in respect of this property as at 31 March 2003 was $1,755,000 (2002 $1,775,000).

Other properties with a total accounting book value amounting to $795,000 (2002 $806,000) were not included in the above valuation.

11. RECONCILIATION OF NET PROFIT AFTER TAXATION WITH CASH INFLOW FROM OPERATING ACTIVITIES

2003 2002
Reported surplus after taxation 2,816 5,980
Add non-cash items:
Depreciation 3,792 3,547
Movement in deferred tax - (2,398)
3,792 1,149
Add item classified as investing activity
Net (gain)/loss on disposal of fixed assets 2 (138)
2 (138)
Movement in working capital:
(Decrease)/Increase in accounts payable 220 (648)
(Increase)/Decrease in taxation receivable 39 346
(Increase)/Decrease in accounts receivable 250 399
509 97
Net cash inflow/(outflow) from operating activities 7,119 7,088


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 93


Gazette.govt.nz — PDF NZ Gazette 2003, No 93




✨ LLM interpretation of page content

💰 Counties Power Limited Financial Statements Continued (continued from previous page)

💰 Finance & Revenue
Valuation, Assets, Depreciation, Financial Statements, Revaluation Policy

💰 Valuation Information for Distribution System Assets

💰 Finance & Revenue
Revaluation, Depreciated Replacement Cost, Meritec Limited, Distribution System Assets

💰 Land and Buildings Valuation

💰 Finance & Revenue
Property Valuation, Franklin District Council, Glasgow Road, Nelson Street, Pukekohe

💰 Reconciliation of Net Profit After Taxation With Cash Inflow From Operating Activities

💰 Finance & Revenue
Financial Reconciliation, Depreciation, Deferred Tax, Working Capital, Cash Inflow