✨ Financial Statements
THE POWER COMPANY LIMITED LINE BUSINESS
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2004
2. Operating Revenue
| 31 March 2004 | 31 March 2003 | |
|---|---|---|
| $000 | $000 |
Operating Revenue Comprises:
- Line Charges (net of discount) | 24,119 | 22,335 |
- Interest on Investments | 20 | 5 |
- Transpower Rebate (net of distribution to retailers) | - | 262 |
- Other Revenue | 989 | 739 |
Total Operating Revenue | 25,128 | 23,341 |
3. Operating Expenses
Operating Expenses Include:
- Auditors Remuneration:
- Statutory Audit | 33 | 32 |
- Other | 19 | - |
- Bad Debts Written Off | 8 | 1 |
- Depreciation:
- Office Equipment | 357 | 326 |
- Network | 7,176 | 6,994 |
- Buildings | 22 | 20 |
- Plant & Equipment | 118 | 107 |
- Directors’ Fees | 107 | 97 |
- Interest Expense | 68 | 390 |
- Lease Costs | - | - |
- Loss on Disposal of Fixed Assets | 259 | 85 |
4. Equity
| 31 March 2004 | 31 March 2003 | |
|---|---|---|
| $000 | $000 |
- Capital Reserve | 28,847 | 28,847 |
- Asset Revaluation Reserve (see below) | 160,934 | 110,489 |
- Retained Earnings | 18,225 | 16,523 |
Total Equity | 208,006 | 155,859 |
Asset Revaluation Reserve
- Opening Balance | 110,489 | 110,489 |
- Revaluation in the Year | 50,445 | - |
- Reversal/Impact of Deferred tax effect of revaluation | - | - |
- Other movements | - | - |
Closing Balance | 160,934 | 110,489 |
5. Receivables and Prepayments
| 31 March 2004 | 31 March 2003 | |
|---|---|---|
| $000 | $000 |
- Trade Debtors | 2,471 | 1,320 |
- Other Debtors | - | 205 |
- Prepayments | 47 | 102 |
Total Receivables and Prepayments | 2,518 | 1,627 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 16
Gazette.govt.nz —
NZ Gazette 2005, No 16
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Financial Statements for The Power Company Limited Line Business
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🏭 Trade, Customs & IndustryOperating Revenue, Operating Expenses, Equity, Receivables, Financial Reporting