New Zealand Gazette – 2005 – No. 3

Page 72

✨ Financial Statements



72 NEW ZEALAND GAZETTE, No. 3 14 JANUARY 2005

WEL NETWORKS LIMITED

| Line Business | 2004
| | ($000s) | 2003
| | | ($000s) |
|----------------------------|---------|---------|

Fixed Assets (continued)

Furniture, Plant and Equipment

Cost 11,062 10,018
Accumulated depreciation (9,257) (8,213)
Net book value 1,805 1,805

Total before assets under construction 186,958 164,512

Capital assets under construction

                473     1,776

Consumer billing & information system assets

                -       -

Other fixed assets

Cost 1,355 1,355
Accumulated depreciation (596) (556)
Net book value 759 799

Total net book value 188,189 167,087

Land and Buildings were revalued on 31 March 2004 by DTZ Registered Valuers.

The distribution system was revalued on 31 March 2004 by Sinclair Knight Merz (NZ) Limited Registered Engineers.

Other fixed assets represent the amount paid to Hamilton City Council in 1989 for the use of substations buildings. This amount is being depreciated over a period of 33 years.

Centralised load control equipment 1,215 1,210
(included as part of the distribution system)

8 Current liabilities

Bank overdraft & short term borrowings - 3,447
Trade creditors 5,245 3,260
Provision for annual and long service leave 208 187
Provision for dividend 2,160 -
Provision for tax 1,878 1,071
Other current liabilities 514 201

                    10,005      8,166


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 3


Gazette.govt.nz — PDF NZ Gazette 2005, No 3




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for WEL Networks Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Fixed Assets, Distribution System, Land, Buildings, Furniture Plant & Equipment, Vehicles, WEL Networks Limited