New Zealand Gazette – 2005 – No. 24

Page 575

✨ Financial Statements

21 JANUARY 2005 NEW ZEALAND GAZETTE, No. 24 575

None of the borrowings are secured over the assets of the Company, although a negative pledge agreement exists. The Multi-Option Credit Facility is a five-year revolving credit facility for $21.0 million expiring in December 2007. The facility reduces by $2.0 million per annum commencing 2004.

The weighted average interest rate on external borrowings was 5.4% (2003 6.0%). Interest has been charged in respect of the loan provided by the Other Business at the rate of 6.0% (2003 6.0%).

9. PAYABLES AND ACCRUALS

	2004	2003
	$000	$000
Accounts Payable	2,400	2,569
GST Payable	57	-
Accrued Payroll	153	137
Total	2,610	2,706

10. FIXED ASSETS

| | Cost/Valuation | Accumulated | Net Book
| | $000 | Depreciation | Value
| | | $000 | $000
| | | |
| System fixed assets: | 2004 | |
| At cost | - | - | -
| At valuation | 106,860 | - | 106,860
| Capital works under construction | 439 | - | 439
| Motor vehicles | 483 | 295 | 188
| Consumer billing & information systems | 601 | 589 | 12
| Office equipment | 5,061 | 3,598 | 1,463
| Land | 1,125 | - | 1,125
| Buildings | 2,728 | 832 | 1,896
| Other fixed assets | - | - |
| Total | 117,297 | 5,314 | 111,983

| | 2003 | |
| At cost | 98,671 | - | 98,671
| At valuation | - | - | -
| Capital works under construction | 413 | - | 413
| Motor vehicles | 450 | 292 | 158
| Consumer billing & information systems | 601 | 573 | 28
| Office equipment | 4,515 | 3,353 | 1,162
| Land | 895 | - | 895
| Buildings | 2,440 | 779 | 1,661
| Other fixed assets | - | - |
| Total | 107,985 | 4,997 | 102,988

VUW Te Waharoa — NZ Gazette 2005, No 24

Gazette.govt.nz — NZ Gazette 2005, No 24

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

✨ LLM interpretation of page content

💰 Counties Power Limited - Financial Statements (continued from previous page)

Domain💰 Finance & Revenue
KeywordsBorrowings, Interest Rates, Multi-Option Credit Facility, Accounts Payable, GST Payable, Accrued Payroll, Fixed Assets, Depreciation, System Assets, Motor Vehicles, Office Equipment, Land, Buildings

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