New Zealand Gazette – 2006 – No. 138

Page 4025

✨ Financial Statements



17 NOVEMBER 2006 NEW ZEALAND GAZETTE, No. 138 4025

  1. Share Capital

Authorised capital:

2006 $ 2005 $
Distribution - 5,264,435 Ordinary shares of $1 each fully paid up $ 5,264,435 $ 5,264,435
Retail - 199,835 Ordinary shares of $1 each fully paid up $ 199,835 $ 199,835
  1. Long Term Liabilities
Distribution Retail
2006 $ 2005 $ 2006 $ 2005 $
-------------------- --------------- --------------- --------------------- ---------------
Westpac Banking Corporation
Multi Option Credit Line Facility $ 4,137,209 $ 6,048,379 $ 1,993,074 $ 1,966,588
Less current portion $ - $ - $ - $ -
Non-current portion $ 4,137,209 $ 6,048,379 $ 1,993,074 $ 1,966,588

Term: Three years to December 2005 and extended by 1 year to 2006.
Repayments: The term loan matures in December 2006.
The intention is to roll forward the term debt beyond the next 12 months.
Security: First ranking debenture providing for fixed and floating charges over all assets.
Average Interest Rate Over Year: 7.87% (2005:7.07%)

The Company has a multi option credit line facility of $8,700,000 which is not fully drawn down.

The Company has a bank overdraft facility of $250,000 (2005:$250,000).

  1. Finance Lease Liabilities
Distribution Retail
2006 $ 2005 $ 2006 $ 2005 $
-------------------- ----------------- --------------- ------------------ ---------------
Not later than one year $ 10,179 $ 15,081 $ 10,712 $ 16,681
Later than one year and not later than two years $ 4,423 $ 9,002 $ 4,657 $ 9,957
Later than two years and not later than five years $ 3,095 $ 1,134 $ 8,521 $ 1,255
Later than five years $ - $ - $ - $ -
Total $ 22,697 $ 25,217 $ 23,890 $ 27,893

Future finance charges
Recognised as a liability | $ 4,367 | $ 3,637 | $ 4,597 | $ 4,023 |

| | $ 18,330 | $ 21,580 | $ 19,293 | $ 23,870 |

Representing lease liabilities

| Current | $ 8,418 | $ 13,073 | $ 8,860 | $ 14,460 |
| Non-current | $ 9,912 | $ 8,507 | $ 10,433 | $ 9,410 |
| | $ 18,330 | $ 21,580 | $ 19,293 | $ 23,870 |

  1. Imputation Credit Account
Distribution Retail
2006 $ 2005 $ 2006 $ 2005 $
Opening Balance $ 319,109 $ 556,697 $ 206,535 $ 50,459

PLUS:
Income tax paid
Imputations on dividends received | $ 454,794 | $ 345,960 | $ 665,357 | $ 176,429 |
| $ 149 | $ 485 | $ - | $ - |

LESS:
Terminal tax refund | -$ 3,150 | -$ 134,146 | -$ 4,608 | -$ 68,410 |
Imputations attached to dividends paid | -$ 334,857 | -$ 450,087 | -$ 403,953 | -$ 264,095 |

Balance 30 June 2006 | $ 436,045 | $ 319,109 | $ 50,261 | $ 206,535 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 138


Gazette.govt.nz — PDF NZ Gazette 2006, No 138




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Wanganui Gas Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Share Capital, Long Term Liabilities, Finance Lease Liabilities, Imputation Credit Account, Wanganui Gas Limited