New Zealand Gazette – 2004 – No. 155

Page 3830

✨ Financial Statements



3830

NEW ZEALAND GAZETTE, No. 155

29 NOVEMBER 2004

2.4 NOTES TO THE FINANCIAL STATEMENTS

Recorded at FRS3 valuation ($000) Recorded at cost ($000) Accumulated depreciation ($000) Carrying value ($000)
5 Property, plant and equipment as at 30 June 2004
Freehold land 350 291 - 641
Distribution systems 214,200 4,485 6,224 212,461
Plant, vehicles and equipment - 33,428 20,411 13,017
Capital work in progress - 13,604 - 13,604
214,550 51,808 26,635 239,723

Property, plant and equipment as at 30 June 2003
Freehold land 350 - - 350
Distribution systems 214,200 2,544 1,290 215,454
Plant, vehicles and equipment - 1,075 501 574
Capital work in progress - 3,158 - 3,158
214,550 6,777 1,791 219,536

The directors consider that the fair value of freehold land is equal to or greater than its net book value.

The distribution system property, plant and equipment was revalued to $214.2 million as at 31 March 2003. Subsequent additions are stated at cost.

The basis of the valuation was depreciated replacement cost. This valuation was undertaken in conjunction with Meritec consulting engineers.

Note As at 30 June 2004 ($000) As at 30 June 2003 ($000)
6 Goodwill
Opening balance 148,392 152,822
Amortised during the period 7,949 4,430
Balance at end of period 140,443 148,392
7 Accounts payable
Trade creditors 258 33
Other creditors and accruals 5,690 3,253
Employee entitlements 8 534 34
Interest payable 2,013 3,316
Balance at end of period 8,495 6,636
8 Employee entitlements
Balance at beginning of period 34 24
Movement during period 500 10
Balance at end of period 534 34


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 155


Gazette.govt.nz — PDF NZ Gazette 2004, No 155




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🏭 Vector Limited Gas Information Disclosure (continued from previous page)

🏭 Trade, Customs & Industry
17 November 2004
Financial Statements, Balance Sheet, Assets, Liabilities, Equity, Accounting Policies, Property, Plant and Equipment, Goodwill, Accounts Payable, Employee Entitlements