New Zealand Gazette – 2005 – No. 18

Page 413

✨ Financial Statements



19 JANUARY 2005

NEW ZEALAND GAZETTE, No. 18

413

  1. ACCOUNTS RECEIVABLE

The balance of Accounts Receivable comprises:

Network and other trade debtors including GST

| | 2004
$000’s | 2003
$000’s |
|------------|----------------|----------------|
| | 1,225 | 1,337 |

  1. INVENTORIES

Reticulation stock

| | 2004
$000’s | 2003
$000’s |
|------------|----------------|----------------|
| | 528 | 287 |

Some inventories are subject to retention of title clauses.

  1. CREDITORS AND ACCRUALS

In current liabilities the balance of creditors and accruals comprises:

Trade Creditors including GST

| | 2004
$000’s | 2003
$000’s |
|------------|----------------|----------------|
| | 1,318 | 823 |

Employee Entitlements (Annual Leave)

| | 2004
$000’s | 2003
$000’s |
|------------|----------------|----------------|
| | 110 | 139 |

Total

| | 2004
$000’s | 2003
$000’s |
|------------|----------------|----------------|
| | 1,428 | 962 |

  1. PLANT PROPERTY AND EQUIPMENT

10.1 Valuation

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

Land

$000’s
1,871

Improvements

$000’s
3,827

10.2 Depreciation Charges

Buildings

| | 2004
$000’s | 2003
$000’s |
|------------|----------------|----------------|
| | 124 | 114 |

Reticulation System

| | 2004
$000’s | 2003
$000’s |
|------------|----------------|----------------|
| | 3,724 | 1,408 |

Plant Equipment and Motor Vehicles

| | 2004
$000’s | 2003
$000’s |
|------------|----------------|----------------|
| | 333 | 186 |

Total

| | 2004
$000’s | 2003
$000’s |
|------------|----------------|----------------|
| | 4,181 | 1,708 |

10.3

| | 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 |

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 $84.352m less the deferred tax adjustment of $4.533m

| | Cost | Accumulated
Depreciation | 31 Mar 2003 Net
Book Value |
|--------------------------|------------|-----------------------------|---------------------|
| Land | 453 | - | 453 |
| Buildings | 2,826 | (843) | 1,983 |
| Reticulation System | 28,615 | (13,076) | 15,539 |
| Plant and Equipment | 2,241 | (1,707) | 534 |
| Motor Vehicles | 259 | (180) | 79 |
| Capital Works in Progress| 383 | - | 383 |
| Total | 34,777 | (15,806) | 18,971 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 18


Gazette.govt.nz — PDF NZ Gazette 2005, No 18




✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
Financial Performance, Revenue, Expenditure, Marlborough Lines Limited