✨ Financial Statements Notes
2512
NEW ZEALAND GAZETTE
No. 95
Notes to the financial statements (continued)
For the year ended 31 March 2003
- Fixed assets
System fixed assets at cost 72,582 64,952
Less accumulated depreciation (4,045) (1,670)
68,537 63,282
Customer billing & information system assets at cost 835 466
Less accumulated depreciation (341) (261)
494 205
Motor vehicles at cost 212 199
Less accumulated depreciation (143) (114)
69 85
Office equipment at cost 221 406
Less accumulated depreciation (153) (309)
68 97
Land & building at cost - -
Land and buildings at valuation 1,136 1,048
Less accumulated depreciation (57) (51)
1,079 997
Capital works under construction at cost 3,119 5,818
Other plant and equipment at cost 987 1,366
Less accumulated depreciation (730) (995)
257 371
Total fixed assets 73,623 70,855
Valuation
Revalued freehold land and buildings on hand at balance date are stated at net current value as determined by an independent registered valuer Roger Kelly ANZIV of the firm Valuation & Property Services in February 2002.
Network assets have been valued at Optimised Depreciated Replacement Cost as confirmed by Kerslake and Partners, Consulting Engineers, as at 31 March 2002.
Capitalised Interest
The Capital works programme undertaken during the year was partly financed from borrowings. Interest incurred on these borrowing during the period of construction has been capitalised being recognition that borrowing cost was part of the cost of the resulting assets. The total amount of interest capitalised in this manner is $90,000.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 95
Gazette.govt.nz —
NZ Gazette 2003, No 95
✨ LLM interpretation of page content
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Notes to the financial statements
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial statements, Fixed assets, Valuation, Capitalised interest
- Roger Kelly, Independent registered valuer