✨ Financial Statements
MAINPOWER NEW ZEALAND LTD
Lines Business
Notes to and Forming Part of the Financial Statements
For The Year Ended 31 March 2004
The following services were supplied by MainPower Contracting Limited to the Lines Business.
| 2004 | 2003 | |
|---|---|---|
| $'000 | $'000 | |
| 1. Asset Maintenance | 2,358 | 2,229 |
| 2. Meter Maintenance | 1 | 4 |
| 3. Load Control Maintenance | 20 | 30 |
| 4. Construction of Distribution Substations | 606 | 545 |
| 5. Construction of Distribution Transformers | 1,046 | 930 |
| 6. Construction of Low Voltage Reticulation | 473 | 398 |
| 7. Construction of Distribution Lines and Cables | 1,463 | 1,687 |
| 8. Construction of Subtransmission Assets | (48) | 66 |
| 9. Construction of Other System Assets | - | - |
| 10. Construction of Medium Voltage Switchgear | - | - |
| 11. Construction of Zone Substations | - | - |
| 12. Consumer Connections and Disconnection | - | - |
12. Reconciliation of Net Surplus to Net Cash Inflow from Operating Activities
| 2004 | 2003 | |
|---|---|---|
| $'000 | $'000 | |
| Reported Surplus After Taxation | 4,791 | 4,401 |
| Non Cash Items | ||
| Depreciation | 4,427 | 4,139 |
| Customer Contributions | (3,505) | (2,592) |
| Movement in Gratuities | 54 | (3) |
| 976 | 1,544 |
|Movements in Working Capital Items | | |
|(Increase)/Decrease Accounts Receivable| 543 | (217) |
|Increase/(Decrease) Accounts Payable | 61 | (713) |
| | 604 | (930) |
|Net Cash Inflow from Operations | 6,371 | 5,015 |
13. Financial Instruments
Credit Risk: Financial instruments which potentially subject the company to concentrations of credit risk principally relate to bank deposits and receivables. Bank deposits are placed with high credit quality financial institutions. Concentrations of credit risk with respect to Receivables are subject to normal terms of trade. Regular monitoring of receivables is undertaken.
Foreign Exchange and Currency Instruments: The Company is not exposed to foreign exchange or currency risk.
Off-Balance Sheet Financial Instruments: The Company does not have any off-balance sheet financial instruments.
Fair Values: The fair value of the on-balance sheet financial instruments is represented by the carrying values.
14. Commitments and Contingent Liabilities
There are no significant capital commitments or contingent liabilities as at 31 March 2004 (2003, Nil).
15. Significant Events After Balance Date
There are no events subsequent to the balance date that would or may have an effect on the operation of MainPower, the results of MainPower’s operations or the state of the affairs of MainPower.
16. Segmental Reporting
The predominant activity of MainPower is the distribution of electricity. All operations are conducted within New Zealand.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 10
Gazette.govt.nz —
NZ Gazette 2005, No 10
✨ LLM interpretation of page content
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Mainpower New Zealand Ltd Financial Statements Notes
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🏭 Trade, Customs & IndustryFinancial Statements, Services Supplied, Asset Maintenance, Meter Maintenance, Load Control Maintenance, Construction, Distribution Substations, Distribution Transformers, Low Voltage Reticulation, Distribution Lines and Cables, Subtransmission Assets, Other System Assets, Medium Voltage Switchgear, Zone Substations, Consumer Connections and Disconnection, Reconciliation of Net Surplus, Net Cash Inflow, Operating Activities, Credit Risk, Foreign Exchange and Currency Instruments, Off-Balance Sheet Financial Instruments, Fair Values, Commitments and Contingent Liabilities, Significant Events After Balance Date, Segmental Reporting, MainPower Contracting Limited, MainPower