New Zealand Gazette – 2004 – No. 163

Page 4017

✨ Financial Statements

14 DECEMBER 2004
NEW ZEALAND GAZETTE, No. 163
4017

9. Property, Plant and Equipment

Distribution assets	2004 $000	2003 $000
Land	544	402
Buildings	6,730	2,172
Substations	8,921	7,394
Lines	64,314	52,269
Switchgear	4,417	3,061
Transformers	12,010	12,357
Centralised load control equipment	979	856
Other	2,883	-
Total distribution assets	100,798	78,511

Non-distribution assets
Leasehold improvements	141	150
Accumulated depreciation	(95)	(87)
	46	63
Plant and equipment	7,607	4,518
Accumulated depreciation	(3,752)	(2,168)
	3,855	2,350
Vehicles	182	190
Accumulated depreciation	(56)	(73)
	126	117
Capital Work in Progress	1,377	115
	1,377	115
Total property, plant and equipment	$106,202	$81,156

Valuation

Land and buildings owned by the Company, other than those referred to above as being part of distribution assets, are stated at market valuation, which was assessed as at 31 March 2004 by DTZ NZ Limited (Registered Valuers). The valuations are carried out on a 3 yearly basis.

The Optimised Deprival Value (ODV) at which distribution assets are stated, was assessed by Electra and independently reviewed by PricewaterhouseCoopers as at 31 March 2004. The report placed an ODV on Distribution assets of $100,798,522.

The ODV valuations are undertaken on a three yearly basis. The next assessment will be as at 31 March 2007. For the intervening years the distribution assets are updated for additions during the year.

VUW Te Waharoa — NZ Gazette 2004, No 163

Gazette.govt.nz — NZ Gazette 2004, No 163

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

💰 Electra Limited - Property, Plant and Equipment (continued from previous page)

Domain💰 Finance & Revenue
Dated14 December 2004
KeywordsProperty, Plant and Equipment, Valuation, Distribution assets, Non-distribution assets

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