New Zealand Gazette – 2004 – No. 157

Page 3880

✨ Financial Statements and Valuation



3880 NEW ZEALAND GAZETTE, No. 157 30 NOVEMBER 2004

The qualifications of Guenter Wabnitz relevant to this valuation review are:

  • Commercial valuations of most of New Zealand’s gas networks, for ODV, due diligence, insurance, district valuation roll and other purposes.

  • Over 20 years experience in management, design and operations of gas production, processing and transportation systems in New Zealand, Australia, Asia and Europe.

  1. Deferred Expenditure
$Thousands
2004
Balance as at 1 July 4,197
Less Amounts Amortised to Expenses (1,086)
3,111
  1. Accounts Receivable
$Thousands
2004
Trade Debtors 6,194
Prepayments and Sundry Receivables 167
6,361
  1. Notional Reserves

NGC’s Gas Transmission Activity is not a company and therefore has no share capital. Notional reserves are determined on the basis that Gas Transmission is fully equity funded by NGC. Notional reserves therefore represent all funding provided to Gas Transmission by the NGC Group.

  1. Capital Commitments

There were no capital amounts committed and not recorded in these financial statements (30 June 2003: Nil).

Operating lease commitments

$Thousands
2004
Non cancellable operating leases are payable as follows
Not later than one year 47
Between one and two years 35
Between two and five years -
Later than five years -
82


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 157


Gazette.govt.nz — PDF NZ Gazette 2004, No 157




✨ LLM interpretation of page content

🏭 Certification of NGC Gas Transmission Activities Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
30 June 2004
Financial Statements, Revenue, Expenses, Gas Transmission, NGC, Accounting Policies
  • Guenter Wabnitz, Valuation review qualifications