✨ Financial Statements
3 AUGUST 2005
NEW ZEALAND GAZETTE, No. 114
2749
WEL NETWORKS LIMITED
| Line Business | 2005 ($000s) | 2004 ($000s) |
|---|---|---|
Fixed Assets (continued)
Furniture, Plant and Equipment
Cost | 11,730 | 11,062 |
Accumulated depreciation | (9,829) | (9,257) |
Net book value | 1,901 | 1,805 |
Total before assets under construction | 195,792 | 186,958 |
Capital assets under construction
Consumer billing & information system assets | 6,060 | 473 |
Other fixed assets
Cost | 1,355 | 1,355 |
Accumulated depreciation | (637) | (596) |
Net book value | 718 | 759 |
Total net book value | 202,570 | 188,189 |
Land and Buildings were revalued on 31 March 2004 by DTZ Registered Valuers.
The distribution system was revalued on 31 March 2004 by Sinclair Knight Merz (NZ) Limited Registered Engineers.
Other fixed assets represent the amount paid to Hamilton City Council in 1989 for the use of substations buildings. This amount is being depreciated over a period of 33 years.
Centralised load control equipment
(included as part of the distribution system) | 1,180 | 1,215 |
8 Current liabilities
Bank overdraft & short term borrowings | - | -
Trade creditors | 21,430 | 16,745
Provision for annual and long service leave | 178 | 208
Provision for dividend | - | 2,160
Provision for tax | 624 | 1,878
Other current liabilities | 409 | 514
Total | 22,641 | 21,505
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 114
Gazette.govt.nz —
NZ Gazette 2005, No 114
✨ LLM interpretation of page content
🏭
Statement of Accounting Policies for WEL Networks Limited
(continued from previous page)
🏭 Trade, Customs & Industry3 August 2005
Financial Statements, Current Assets, Fixed Assets, Depreciation, WEL Networks Limited