✨ Financial Statements
9. Property, Plant and Equipment
| | 2005
($000) | 2004
($000) |
|----------------------|-----------|-----------|
| Distribution assets | | |
| Land | 544 | 544 |
| Buildings | 6,839 | 6,730 |
| Substation equipment | 10,736 | 8,921 |
| Lines | 59,432 | 64,314 |
| Switchgear | 4,537 | 4,417 |
| Transformers | 13,460 | 12,010 |
| Other ODV Assets | 8,841 | 3,862 |
| Depreciation on ODV Assets | (3,339) | - |
| Total ODV assets | 101,050 | 100,798 |
| Other Non ODV Assets | 6,628 | 6,590 |
| Depreciation on Non ODV Assets | (3,347) | (2,988) |
| Total distribution assets | 104,331 | 104,400 |
Non-distribution assets
| | 2005
($000) | 2004
($000) |
|----------------------|-----------|-----------|
| Leasehold improvements | 142 | 141 |
| Accumulated depreciation | (105) | (95) |
| | 37 | 46 |
| Plant and equipment | 1,034 | 1,017 |
| Accumulated depreciation | (736) | (764) |
| | 298 | 253 |
| Vehicles | 118 | 182 |
| Accumulated Depreciation | (53) | (56) |
| | 65 | 126 |
| Capital Work in Progress | 434 | 1,377 |
| Total property plant and Equipment | $105,165 | $106,202 |
Valuation
Land and buildings owned by the Company, other than those referred to above as being part of distribution assets, are stated at market valuation, which was assessed as at 31 March 2004 by DTZ NZ Limited (Registered Valuers). The valuations are carried out on a 3 yearly basis.
The Optimised Deprival Value (ODV) at which distribution assets are stated, was assessed by Electra and independently reviewed by PricewaterhouseCoopers as at 31 March 2004. The report placed an ODV on Distribution assets of $101,173,265.
The ODV valuations are undertaken on a three yearly basis. The next assessment will be as at 31 March 2007. For the intervening years the distribution assets are updated for additions during the year at cost.
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 134
Gazette.govt.nz —
NZ Gazette 2005, No 134
✨ LLM interpretation of page content
💰
Property, Plant and Equipment Financial Details
(continued from previous page)
💰 Finance & RevenueProperty, Plant, Equipment, Financial Statements, Distribution Assets, Non-distribution Assets, Valuation, Depreciation