✨ Financial Statements
Buller Electricity Limited
Line Business Financial Statements
| 2006 $ | 2005 $ | |
|---|---|---|
| Motor Vehicles | ||
| Cost | 128,771 | 128,771 |
| Accumulated Depreciation | (57,467) | (41,921) |
| Net Book Value | 71,304 | 86,850 |
| 2006 $ | 2005 $ | |
|---|---|---|
| Other | ||
| Cost | 200,350 | 184,430 |
| Accumulated Depreciation | (129,483) | (129,850) |
| Net Book Value | 70,867 | 54,580 |
| Total Net Book Value | 20,172,716 | 21,259,892 |
The system fixed assets are stated at valuation, as determined every 3 years by a valuer. These assets were revalued on 31 March 2006 to a value of $19,053,270 by Mike McSherry MIPENZ CPENG IPER Chief Executive Buller Electricity Limited using depreciated replacement cost basis.
Land and Buildings were revalued by Coast Valuation Limited on 31 March 2004.
5 SEGMENTAL REPORTING
Buller Electricity operates predominantly in one industry, distribution of electricity. All its core functions are carried out within the Buller region conveying electricity and managing and operating assets of the line business.
6 RELATED PARTIES
The related parties of Buller Electricity Limited are the Buller Electric Power Trust, Buller Energy Limited, Buller Communications Limited.
The Buller Electric Power Trust owns 100% of Buller Electricity Limited who owns 100% of Buller Communications Limited.
The Buller Electric Power Trust loaned to Buller Electricity Limited $1,740,515 by way of an interest bearing, unsecured loan, repayable on demand. Buller Electricity Limited has on loan to Buller Communications Limited $242,873 against which there is a provision of $74,000, resulting in a net balance of $168,873.
Transactions between Related Parties
The Line Business purchased line construction and maintenance services at cost including overheads from its contracting division for the period 1 April 2005 to 31 March 2006. At year end there was an outstanding debtor of $256,054 for related parties and no debts were written off or forgiven during the year. The following Table lists the value of the related party transactions.
| 2006 $ | 2005 $ | |
|---|---|---|
| Construction of subtransmission assets | 28,030 | 0 |
| Construction of zone substations | 132,257 | 549,562 |
| Construction of distribution lines and cables | 389,218 | 173,487 |
| Construction of medium voltage switchgear | 43,944 | 71,431 |
| Construction of distribution transformers | 101,992 | 46,503 |
| Construction of distribution substations | 48,976 | 46,462 |
| Construction of low voltage reticulation | 148,834 | 49,954 |
| Construction of other system fixed assets | 0 | 0 |
| Maintenance of assets | 720,377 | 552,788 |
| Consumer connections and disconnections | 0 | 0 |
| Other Services | 0 | 4,601 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 128
Gazette.govt.nz —
NZ Gazette 2006, No 128
✨ LLM interpretation of page content
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Buller Electricity Limited Financial Statements
(continued from previous page)
🏭 Trade, Customs & Industry30 October 2006
Financial Statements, Assets, Depreciation, Valuation, Buller Electricity Limited
- Mike McSherry (MIPENZ CPENG IPER Chief Executive), Valued assets
🏭 Segmental Reporting of Buller Electricity Limited
🏭 Trade, Customs & IndustrySegmental Reporting, Electricity Distribution, Buller Region
🏭 Related Parties of Buller Electricity Limited
🏭 Trade, Customs & IndustryRelated Parties, Financial Transactions, Buller Electric Power Trust, Buller Energy Limited, Buller Communications Limited