New Zealand Gazette – 2004 – No. 165

Page 4084

✨ Financial Statements and Notes



Network Tasman Limited

Line Business Financial Statements

Notes to and forming part of the financial statements

For the year ended 31 March 2004

Property, plant & equipment - March 2003

At cost At valuation Accum. depreciation Carrying Amount
Primary distribution assets 606 2,590 176 3,020
Secondary distribution assets 6,523 60,793 4,224 63,092
Subetation assets 811 5,109 402 5,518
Load control plant 439 810 252 997
Streetlights 0 169 9 160
Consumer connections 179 948 131 996
Communications 76 0 1 75
Plant and equipment 1,543 0 940 603
Computer equipment 2,004 0 1,653 351
Motor vehicles 221 0 93 128
Assets under construction 2,299 0 0 2,299
Total 14,701 70,419 7,881 77,239

Valuation information

The distribution system assets were revalued as at 31 March 2004 to a net current value of $120.4 million. The valuation to optimised depreciated replacement cost (ODRC) was carried out by independent valuers, PricewaterhouseCoopers. The valuation report is dated 25 May 2004.

Review of useful lives of property, plant and equipment

Estimate of increase in depreciation charge following a review of useful lives

2004 $'000 2003 $'000
0 0

10. Deferred taxation

2004 2003
Balance at beginning of year 97 115
Deferred tax on timing differences (38) (18)
Balance at end of year 59 97

11. Payables and accruals

Current

2004 2003
Trade payables and accruals 1,714 2,165
Total current payables and accruals 1,714 2,165


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 165


Gazette.govt.nz — PDF NZ Gazette 2004, No 165




✨ LLM interpretation of page content

💰 Network Tasman Limited Line Business Financial Statements (continued from previous page)

💰 Finance & Revenue
1 December 2004
Financial Statements, Property, Plant & Equipment, Valuation, Deferred Taxation, Payables