New Zealand Gazette – 2005 – No. 132

Page 3214

✨ Financial Statements



3214

NEW ZEALAND GAZETTE, No. 132

19 AUGUST 2005

Totals for all asset classes 2005 2004
$000's $000's
At valuation 697,157 610,727
At cost 41,796 33,129
Work in progress 6,309 8,304
Accumulated depreciation (26,882) (24,694)

Carrying value 718,380 627,466

System fixed assets includes substation buildings of $30,677,000 (2004: $13,431,000). Land and buildings includes network land of $29,275,600 (2004: $9,325,000).

The value of system fixed assets at book value used in the calculation of Requirement 14 performance measures comprises:

System fixed assets 673,630 603,188
Less capital work in progress (6,309) (8,211)
Plus network land 26,348 7,984

                            693,669    602,961

Revaluation

The electricity distribution network and substation buildings were revalued on an optimised depreciated replacement cost basis by independent valuers PricewaterhouseCoopers as at 1 April 2004.

All the Company’s land and other buildings were revalued to fair value at 1 April 2004 by independent valuers Ernst & Young Corporate Finance Limited.

An impairment review of all other plant and equipment was undertaken as at 31 March 2003 by independent valuers Ernst & Young Corporate Finance Limited, who determined that as no significant impairment existed, these assets could be carried at their existing carrying values. Assets in this category were last revalued at 31 March 2000.

Depreciation has been applied to the assets for the year ended 31 March 2005 in accordance with the Company’s accounting policies.

  1. Accounts payable and accruals

A summary of accounts payable and accruals is as follows:

Intercompany subvention payment 10,867 -
Trade creditors 8,319 9,824
Accruals 6,699 5,775
Employee entitlements 1,471 1,378
Dividends payable - -
Income tax payable - -
Provisions 132 186

                            27,488     17,163


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 132


Gazette.govt.nz — PDF NZ Gazette 2005, No 132




✨ LLM interpretation of page content

🏭 Property, plant and equipment financial summary (continued from previous page)

🏭 Trade, Customs & Industry
Financial statements, Property, Plant, Equipment, Valuation, Depreciation, Fixed assets

🏭 Revaluation details of assets

🏭 Trade, Customs & Industry
Revaluation, Depreciation, Independent valuers, PricewaterhouseCoopers, Ernst & Young

🏭 Accounts payable and accruals summary

🏭 Trade, Customs & Industry
Accounts payable, Accruals, Trade creditors, Employee entitlements