✨ Financial Statements
576
NEW ZEALAND GAZETTE, No. 24
21 JANUARY 2005
Valuation Information
Distribution system assets, excluding meters and relays, were revalued to $106,860,000 at 31 March 2004. As the fair value of the assets is not able to be reliably determined using market based evidence the valuation was prepared on a depreciated replacement cost basis. The valuation was prepared by Sinclair Knight Merz Limited.
Land and Buildings
The major property holding of the Company comprises the depot complex at Glasgow Road and Nelson Street, Pukekohe. Other property held mainly comprise electricity substation sites. The majority of properties were valued as at 1 July 2003 by Value and Management Services Limited as part of a General Revaluation by the Franklin District Council. Quotable Value New Zealand also completed two valuations on behalf of the Papakura District Council.
The values of these properties were:
| 2004 | 2003 | |
|---|---|---|
| Net Book Value | $000 | $000 |
| Glasgow Road Complex | 1,737 | 1,755 |
| Other Land & Buildings | 1,284 | 800 |
| 3,021 | 2,555 | |
| Valuation | ||
| Glasgow Road Complex | 2,785 | 2,056 |
| Other Land & Buildings | 1,984 | 1,460 |
| 4,769 | 3,516 |
11. OPERATING LEASE COMMITMENT
Counties Power Limited Lines Business had no operating lease commitments (2003 Nil).
12. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES
Counties Power Limited Lines Business had commitments for future capital expenditure at 31 March 2004 totaling $262,000 (2003: $331,000).
There were no material contingent liabilities at 31 March 2004 (2003 Nil).
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 24
Gazette.govt.nz —
NZ Gazette 2005, No 24
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Counties Power Limited - Financial Statements
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💰 Finance & RevenueValuation, Distribution System Assets, Land and Buildings, Operating Lease Commitments, Capital Commitments, Contingent Liabilities