New Zealand Gazette – 2003 – No. 99

Page 2617

✨ Financial Statements



13 AUGUST

NEW ZEALAND GAZETTE

2617

2003
$000
2002
$000

Note 3 : Fixed Assets (continued)

Capital work in progress comprises:

  • Distribution substations | 403 | 182 |
  • Low voltage reticulation | 999 | 1,268 |
  • Distribution lines and cables | 1,058 | 1,277 |
  • Distribution transformers | 483 | 118 |
  • Other | 18 | 98 |
  • Zone substations | 1,160 | - |
  • Transmission reticulation | 1,400 | - |

Total | 5,521 | 2,943 |

Note 4 : Deferred Tax Liability

2003 2002
Balance at beginning of year 19,579 11,356
Movement from income tax charge 4,996 4,989
Adjustment for prior year deferred tax liability - 3,234

Balance at end of year | 24,575 | 19,579 |

Note 5 : Term Debt

2003 2002
Balance at beginning of year 114,000 110,800
Current year borrowing 3,000 3,200
Current year repayment - -

Balance at end of the year | 117,000 | 114,000 |

The Line Business has a borrowing facility allowing it to draw funds up to $120 million. At year-end $117.0 million had been drawn on the facility. The weighted average interest rate on the advances at 31 March 2003 was 7.12%. The repayment period on the advances is between 2 and 10 years as follows:

  • 1 - 2 years | -
  • 2 - 5 years | -
  • 5 years and greater | 117,000

Total | 117,000

Note 6 : Reconciliation of Net Surplus from Operating Activities

2003 2002
Net profit after tax 4,758 4,788
Items not involving cashflows depreciation 8,842 8,016
Impact of changes in working capital items
(increase)/decrease in accounts receivable (1,670) (2,971)
(increase)/decrease in inventories - -
(increase)/decrease in tax refund 353 (1,592)
increase/(decrease) in taxation payable - -
increase/(decrease) in accounts payable 1,143 230
increase/(decrease) in term liabilities - -
gain on sale of assets - -
increase/(decrease) in deferred tax liability 4,996 4,989
capital creditors included in accounts payable (946) -

Net cash inflows/(outflows) from operating activities | 17,476 | 13,460 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 99


Gazette.govt.nz — PDF NZ Gazette 2003, No 99




✨ LLM interpretation of page content

🏭 Disclosure of Information Required in Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
16 July 2003
Financial Statements, Disclosure, Regulations, Dunedin Electricity Limited

🏭 Fixed Assets Details

🏭 Trade, Customs & Industry
Fixed Assets, Capital Work, Distribution, Transmission

💰 Deferred Tax Liability Details

💰 Finance & Revenue
Deferred Tax, Liability, Financial Year

💰 Term Debt Details

💰 Finance & Revenue
Term Debt, Borrowing, Repayment, Interest Rate

💰 Reconciliation of Net Surplus from Operating Activities

💰 Finance & Revenue
Net Surplus, Operating Activities, Cashflow, Depreciation