New Zealand Gazette – 2006 – No. 139

Page 4039

✨ Financial Statements



17 NOVEMBER 2006

NEW ZEALAND GAZETTE, No. 139

NELSON ELECTRICITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

for the year to 31 March 2006

  1. Deferred Taxation
31-Mar-06 31-Mar-05
$'000 $'000
Balance 1 April (10) (9)
Current Period Provision (1) (1)
Balance 31 March (11) (10)
  1. Share Capital
31-Mar-06 31-Mar-05
$'000 $'000
Share Capital 1 1

As at 31 March 2006 Marlborough Lines Ltd and Network Tasman Ltd each held 500 shares. (2005: 500 shares each)

  1. Retained Earnings
31-Mar-06 31-Mar-05
$'000 $'000
Opening Balance 1 April 1,962 2,392
Net Surplus for Year 1,970 1,770
Dividends Paid (3,800) (2,200)
Closing Balance 31 March 132 1,962
  1. Reserves
Pre acquisition Reserves (Retained earnings accumulated to 19.06.96 when the company was purchased by Marlborough Lines Ltd and Network Tasman Ltd)
31-Mar-06
$'000
1,291
31-Mar-05
$'000
1,291
Revaluation Reserves - Credits to Revaluation Reserves
Land and Buildings
31-Mar-06
$'000
1,054
31-Mar-05
$'000
1,054
Distribution System assets
31-Mar-06
$'000
18,928
31-Mar-05
$'000
18,928

Distribution system assets were revalued as at 1 April 2004 to current depreciated replacement cost (DRC). The valuation was completed in accord with the requirements of FRS 3 by PricewaterhouseCoopers and their valuation report is dated 6 May 2005. The company’s Haven Road land was also revalued to net current value as at 1 April 2004.

  1. Plant Property and Equipment
As At As At
31-Mar-06 31-Mar-05
$'000 $'000
Land (at valuation) 1,163 1,163
Buildings (at cost) 175 175
Accumulated Depreciation 86 82
Book Value 89 93
Distribution System Assets (at valuation) 3,928 3,725
Subtransmission Assets 1,710 1,635
Accumulated Depreciation 1,710
Book Value 2,218 2,090
Zone Substations 3,253 3,028
Accumulated Depreciation 1,999 1,917
Book Value 1,254 1,111
Distribution Assets 35,885 34,478
Accumulated Depreciation 17,807 17,099
Book Value 18,078 17,379
Other System Fixed Assets 3,350 3,227
Accumulated Depreciation 1,637 1,564
Book Value 1,713 1,663
Plant and Equipment (at cost) 252 215
Accumulated Depreciation 192 169
Book Value 60 46
Capital Work in Progress 512
Total Fixed Assets 24,575 24,057


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 139


Gazette.govt.nz — PDF NZ Gazette 2006, No 139




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Nelson Electricity Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Deferred Taxation, Share Capital, Retained Earnings, Reserves, Revaluation, Plant Property and Equipment, Accounting, Nelson Electricity Limited