New Zealand Gazette – 2005 – No. 118

Page 2856

✨ Financial Statements

2856 NEW ZEALAND GAZETTE, No. 118 5 AUGUST 2005

Note 4. Sundry Debtors

	2005 $000's	2004 $000's
Line Charge & Sundry Debtors	1,740	1,452
	1,740	1,452

Note 5. Fixed Assets

| | Cost/
Valuation
$000's | Accumulated
Depreciation
$000's | Book Value
2005
$000's | Book Value
2004
$000's |
|-----------------------|----------------------------|-------------------------------------------|------------------------------------|-----------------------------------------|
| At Cost: | | | |
| Distribution System | 8,494 | 12 | 8,482 | 0 |
| Land and Buildings | 104 | 0 | 104 | 0 |
| Other | 432 | 157 | 275 | 276 |
| Capital Work In Progress | | | | |
| | 9,030 | 169 | 8,861 | 276 |
| At Valuation: | | | |
| Distribution System | 59,210 | 1,870 | 57,340 | 59,763 |
| Land and Buildings | 1,652 | 30 | 1,622 | 1,652 |
| | 69,892 | 2,069 | 67,823 | 61,691 |

The fair value of land and buildings is equivalent to the net book value as at 31 March 2005. Carrying value is considered an accurate reflection of fair value.

Note 6. Borrowings

	2005 $000's	2004 $000's
Term Liabilities - Repayable 1-2 years	4,250	2,500
- Repayable 2-5 years	402	402
- Repayable later than 5 years	0	0
	4,652	2,902

Loans are secured as follows:
Short Term Advance Facility $7,000,000 * | 4,250 | 2,500 |
Various (No Security) | 402 | 402 |
| 4,652 | 2,902 |

The National Bank Short Term Advance facility is due to roll over for one year on 31 July 2005. The roll over of this facility is at the discretion of the bank. The Company expects that this loan will be rolled over for at least another year.

The interest rates payable on these loans are:
Floating Rate - based on 90 day bill rate
Fixed Rates 7.14% - 10.5%

VUW Te Waharoa — NZ Gazette 2005, No 118

Gazette.govt.nz — NZ Gazette 2005, No 118

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

✨ LLM interpretation of page content

🏭 Westpower Limited Notes to Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsRevenue, Expenses, Taxation, Financial Statements, Westpower Limited, Electricity

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