✨ Financial Statements
Valuation Information
Distribution System Assets
Distribution system assets, excluding meters and relays, were revalued to $106,860,000 at 31 March 2004. As the fair value of the assets is not able to be reliably determined using market based evidence the valuation was prepared on a depreciated replacement cost basis. The valuation was prepared by Sinclair Knight Merz Limited.
Land and Buildings
The major property holding of the Company comprises the depot complex at Glasgow Road and Nelson Street, Pukekohe. Other property held mainly comprise electricity substation sites. The majority of properties were valued as at 1 July 2003 by Value and Management Services Limited as part of a General Revaluation by the Franklin District Council. Quotable Value New Zealand also completed two valuations on behalf of the Papakura District Council.
The values of these properties were:
| 2005 | 2004 | |
|---|---|---|
| $'000 | $'000 | |
| Net Book Value | ||
| Glasgow Road Complex | 1,698 | 1,737 |
| Other Land & Buildings | 1,655 | 1,284 |
| 3,353 | 3,021 |
| Valuation | | |
| Glasgow Road Complex | 2,785 | 2,785 |
| Other Land & Buildings | 2,014 | 1,984 |
| | 4,799 | 4,769 |
11. OPERATING LEASE COMMITMENT
Counties Power Limited Lines Business had no operating lease commitments (2004 Nil).
12. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES
Counties Power Limited Lines Business had no Capital Commitments at 31 March 2005 (2004: $262,000).
There were contingent liabilities of $10,000 at 31 March 2005 (2004: Nil).
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 121
Gazette.govt.nz —
NZ Gazette 2005, No 121
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Counties Power Limited Financial Statements
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💰 Finance & RevenueFinancial Statements, Valuation, Assets, Liabilities, Commitments