New Zealand Gazette – 2005 – No. 138

Page 3347

✨ Financial Statements



PLANT PROPERTY AND EQUIPMENT

9.1 Valuation

The latest Government valuations for land and improvements dated September 2002 show the following values:

2005 $000's 2004 $000's
Land 1,871 1,871
Improvements 3,827 3,827

9.2 Depreciation Charges

2005 $000's 2004 $000's
Buildings 73 124
Reticulation System 3,889 3,724
Plant Equipment and Motor Vehicles 653 333
Total 4,615 4,181

9.3

Valuation Accumulated Depreciation 31 Mar 2005 Net Book Value
Land 3,201 - 3,201
Buildings 5,967 (1,712) 4,255
Reticulation System 110,239 (3,868) 106,371
Plant and Equipment 4,228 (2,670) 1,558
Motor Vehicles 285 (25) 260
Capital Works in Progress 557 - 557
Total 124,477 (8,275) 116,202

Distribution system assets belonging to the company were revalued as at 1 April 2003 to depreciated replacement cost as assessed and certified by independent valuers PricewaterhouseCoopers. Land and buildings belonging to the company were revalued to net current value as at 1 April 2003 in accord with values provided by Ian Lyall and Chris Orchard of Hadley and Lyall Ltd. Upon revaluation a deferred tax liability totalling $4.533m was created in respect of accumulated tax depreciation on revalued assets at 1 April 2003. The revaluation reserve balance at 31 March thus reflects the total revaluation adjustment of $94.352m less the deferred tax adjustment of $4.533m.

Valuation Accumulated Depreciation 31 Mar 2004 Net Book Value
Land 3,200 0 3,200
Buildings 4,358 100 4,258
Reticulation System 109,505 3,782 105,723
Plant and Equipment 2,830 2,064 766
Motor Vehicles 348 220 128
Capital Works in Progress 585 0 585
Total 120,826 6,166 114,660

9.4 Annual Valuation Reconciliation Report Year ending 31 March 2005 (Schedule 1 Part 8)

2005 $000's 2004 $000's
System fixed assets at ODV at 31 March 100,396 76,992
Add system fixed assets acquired during the Year at ODV 4,384 5,660
Less system fixed assets disposed of during the year at ODV (349) (892)
Less depreciation on system fixed assets at ODV (3,936) (3,847)
Add revaluations of system fixed assets - 22,483
Equals system fixed assets at ODV at 31 March 2005 100,495 100,396


Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 138


Gazette.govt.nz — PDF NZ Gazette 2005, No 138




✨ LLM interpretation of page content

🏭 Financial Statements Notes for Marlborough Lines Limited (continued from previous page)

🏭 Trade, Customs & Industry
Accounting Policies, Employee Entitlements, Financial Instruments, Foreign Currency Transactions, Accounting Policies