✨ Financial Statements
3216 NEW ZEALAND GAZETTE, No. 132 19 AUGUST 2005
- Equity
Equity comprises:
| 2005 $000's | 2004 $000's | |
|---|---|---|
| Share capital | 120,000 | 120,000 |
| Retained earnings | 57,554 | 63,091 |
| Reserves | 431,832 | 350,017 |
Total shareholders' equity | 609,386 | 533,108 |
Minority interests | - | - |
Total equity | 609,386 | 533,108 |
Capital notes | - | - |
Total capital funds | 609,386 | 533,108 |
The 80 million ($1.50) ordinary shares were issued in April 1993 pursuant to the approved establishment plan and sale and purchase agreement. The shares are fully paid up.
- Revaluation reserve
| 2005 $000's | 2004 $000's | |
|---|---|---|
| Opening balance | 350,017 | 350,017 |
| Revaluation of electricity distribution network, land & buildings | 82,314 | - |
| Disposal of revalued assets | 501 | - |
| Deferred tax liability adjustment | (1,000) | - |
| 431,832 | 350,017 |The revaluation reserve is comprised as follows:
| 2005 $000's | 2004 $000's | |
|---|---|---|
| Land and buildings | 44,925 | 8,263 |
| Distribution system | 386,907 | 341,754 |
| 431,832 | 350,017 |- Financial instruments
The estimated fair values of the company's financial instruments are as follows:
| Carrying amount 2005 $000's | Fair value 2005 $000's | Carrying amount 2004 $000's | Fair value 2004 $000's | |
|---|---|---|---|---|
| Cash and short term investments | - | - | - | - |
| Borrowings | 40,000 | 40,000 | 40,000 | 40,000 |
| Interest rate swap asset/(liabilities) | - | 474 | - | (348) |
The company anticipates that long term borrowings will be held to maturity.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 132
Gazette.govt.nz —
NZ Gazette 2005, No 132
✨ LLM interpretation of page content
💰 Equity and Revaluation Reserve Details
💰 Finance & RevenueEquity, Share capital, Retained earnings, Reserves, Revaluation, Financial instruments