✨ Financial Statements
30 NOVEMBER 2005
NEW ZEALAND GAZETTE, No. 200
5067
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
NOTES TO THE FINANCIAL STATEMENTS continued
FOR THE YEAR ENDED 30 JUNE 2005
8. FIXED ASSETS
| | Cost | Accumulated | Net Book Value | Net Book Value |
|--------------------------|------------| Depreciation | 2005 | 2004 |
| | 2005 | 2005 | $000 | $000 |
| | $000 | $000 | | |
| Transmission lines | 826,612 | 63,328 | 763,284 | 778,547 |
| Freehold land | 54,008 | - | 54,008 | 52,997 |
| Freehold buildings | 46,484 | 5,227 | 41,257 | 42,127 |
| Substations | 859,529 | 61,549 | 797,980 | 786,320 |
| HVDC | 282,440 | 48,223 | 234,217 | 258,707 |
| Communications | 51,219 | 7,713 | 43,506 | 47,010 |
| Administration assets | 39,504 | 18,603 | 20,901 | 23,241 |
| Capital work in progress | 115,950 | - | 115,950 | 97,870 |
| Total fixed assets | 2,275,746 | 204,643 | 2,071,103 | 2,086,819 |
Administration assets include plant, equipment, furniture and motor vehicles.
Capital work in progress comprises the following asset classes:
| LINES BUSINESS | LINES BUSINESS | |
|---|---|---|
| 2005 | 2004 | |
| $000 | $000 | |
| Transmission lines | 38,243 | 21,130 |
| Freehold land | 4,095 | 4,117 |
| Freehold buildings | 1,117 | 1,374 |
| Substations | 53,617 | 53,778 |
| HVDC | 3,336 | 1,884 |
| Communications | 4,496 | 5,568 |
| Administration assets | 11,046 | 10,019 |
| 115,950 | 97,870 |
During the year the following borrowing costs were capitalised:
| 2005 | |
|---|---|
| $000 | |
| Transmission lines | 1,076 |
| Freehold land | 115 |
| Freehold buildings | 31 |
| Substations | 1,508 |
| HVDC | 94 |
| Communications | 126 |
| Administration assets | 322 |
| 3,272 |
Electricity regulations additional disclosures:
| 2005 | 2004 | |
|---|---|---|
| $000 | $000 | |
| Motor vehicles | 739 | 752 |
| Office equipment | 1,469 | 822 |
| Customer billing and | - | - |
| information assets |
Transpower lines business system fixed assets have a value in these financial statements of $1,899 million (2004: $1,919 million).
9. OTHER LONG TERM ASSETS
| 2005 | 2004 | |
|---|---|---|
| $000 | $000 | |
| Structured financing | 532,700 | 532,700 |
| transaction assets | ||
| Trade receivables greater | 9,010 | - |
| than one year | ||
| 541,710 | 532,700 |
The structured financing transaction assets are discussed in Note 12.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 200
Gazette.govt.nz —
NZ Gazette 2005, No 200
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Notes to the Financial Statements for Transpower New Zealand Limited Lines Business
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Fixed Assets, Borrowing Costs, Electricity Regulations, Long Term Assets