Buller Electricity Limited

Line Business Financial Statements

11 Disclosure of Information to be Disclosed in Financial Statements under regulation 6 of the Electricity (Information Disclosure) Regulations 1999 Schedule 1 Part 2 as amended by the Electricity (Information Disclosure) Amendment Regulations 2000 and 2001.

Statement of Financial Position Disclosure (Schedule 1, Part 2)

1 Current Assets

(a) Cash & Bank balances | 162,716 | 66,356 |
(b) Short term investments | 3,551,538| 3,796,069|
(c) Inventories | 0 | 0 |
(d) Accounts receivable | 430,267 | 562,071 |
(e) Other current assets not listed in (a) to (d) | 53,063 | 40,180 |
(f) Total current assets | 4,197,584| 4,464,676|

2 Fixed Assets

(a) System fixed assets | 13,592,610| 13,182,273|
(b) Customer billing and information system assets | 65,729 | 72,498 |
(c) Motor Vehicles | 12,399 | 17,661 |
(d) Office Equipment | 22,908 | 30,279 |
(e) Land and Buildings | 33,004 | 33,004 |
(f) Capital works under construction | 0 | 0 |
(g) Other fixed assets not listed in (a) to (f) | 2,726 | 8,965 |
(h) Total fixed assets | 13,729,376| 13,344,680|

3 Other tangible assets not listed above | 516,148 | 2,498 |

4 Total tangible assets | 18,443,108| 17,811,854|

5 Intangible assets

(a) Goodwill | 0 | 0 |
(b) Other intangible not listed in (a) | 0 | 0 |
(c) Total intangible assets | 0 | 0 |

6 Total Assets | 18,443,108| 17,811,854|

7 Current Liabilities

(a) Bank Overdraft | 0 | 0 |
(b) Short term borrowings | 0 | 0 |
(c) Payables and accruals | 518,635 | 560,228 |
(d) Provision for dividend payable | 0 | 240,000 |
(e) Provision for income tax | 41,056 | 0 |
(f) Other Current Liabilities not listed in (a) to (e) | 254,024 | 0 |
(g) Total Current Liabilities | 813,715 | 800,228 |

8 Non-current Liabilities

(a) Payables and accruals | 0 | 0 |
(b) Borrowings | 0 | 0 |
(c) Deferred tax | 0 | 0 |
(d) Other Non-current Liabilities not listed in (a) to (c) | 0 | 0 |
(e) Total Non-current Liabilities | 0 | 0 |

9 Equity

(a) Shareholders equity |
(i) Share Capital | 4,964,358| 4,964,358|
(ii) Retained Earnings | 3,680,201| 3,062,434|
(iii) Reserves | 8,984,834| 8,984,834|
(iv) Total Shareholders equity | 17,629,393| 17,011,626|
(b) Minority interests in subsidiaries | 0 | 0 |
(c) Total Equity | 17,629,393| 17,011,626|
(d) Capital Notes | 0 | 0 |
(e) Total capital funds | 17,629,393| 17,011,626|

10 Total equity and liabilities | 18,443,108| 17,811,854|