New Zealand Gazette – 2005 – No. 142

Page 3467

✨ Financial Statements Notes

CENTRALINES LIMITED - Lines Business

Notes to the Financial Statements

For the year ended 31 March 2005

Note 4: Surplus before Taxation

| | 2005
($000) | 2004
($000) |
|--------------------------|--------|--------|
| Operating Revenue | | |
| Network | 6,663 | 6,399 |
| AC loss-rental rebates | 256 | 82 |
| Customer contributions | 326 | 246 |
| Interest revenue | 89 | 182 |
| Newly Identified Assets | - | 272 |
| | 7,334 | 7,181 |

| Depreciation | | |
| Electrical distribution system | 1,473 | 1,038 |
| Motor vehicles | 6 | 6 |
| GIS | 55 | 25 |
| | 1,534 | 1,069 |

| Operating Expenses | | |
| Audit New Zealand - audit services | 42 | 36 |
| Audit New Zealand - disclosure accounts | 6 | 7 |
| Fees paid to other auditors | 20 | 22 |
| Remuneration paid to directors | 85 | 85 |
| Interest paid | - | 5 |
| All other operating expenses | 3,763 | 3,793 |
| | 3,916 | 3,948 |

Surplus before discounts and tax | 1,884 | 2,164 |

| Discount | 495 | 484 |

Surplus before taxation | 1,389 | 1,680 |

Note 5: Investments

| | 2005
($000) | 2004
($000) |
|--------------------------|--------|--------|
| Current | | |
| Short term deposits held with registered banks | 900 | - |
| Current Investments of other listed securities | 216 | 264 |
| | 1,116 | 264 |

Market fluctuations in interest rates affect the earnings on these investments but Company policy of placing deposits with high credit quality financial institutions minimises the credit exposure

| Non-Current | | |
| Listed securities | - | - |

Fair and market value information

	2005	2004
Listed securities	422	218

The market value is based on prices quoted on the stock exchanges at balance date

Fixed interest securities - interest rates

The range of interest rates on investments were:

	2005	2004
Short term bank investments	6.6% - 6.8%	5.0% - 5.8%
Listed securities	8.0% - 8.0%	-

VUW Te Waharoa — NZ Gazette 2005, No 142

Gazette.govt.nz — NZ Gazette 2005, No 142

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Centralines Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial statements, Operating Revenue, Depreciation, Operating Expenses, Surplus before Taxation, Investments, Fair Market Value, Interest Rates, Centralines Limited

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