New Zealand Gazette – 2006 – No. 146

Page 4202

✨ Financial Statements

4202 NEW ZEALAND GAZETTE, No. 146 22 NOVEMBER 2006

Equity

Equity comprises:

| | 2006
$000's | 2005
$000's |
|------------------|----------------|----------------|
| Share capital | 120,000 | 120,000 |
| Retained earnings| 67,165 | 57,554 |
| Reserves | 431,024 | 431,832 |

Total shareholders' equity | 618,189 | 609,386 |
Minority interests | - | - |
Total equity | 618,189 | 609,386 |
Capital notes | - | - |
Total capital funds | 618,189 | 609,386 |

The 80 million ($1.50) ordinary shares were issued in April 1993 pursuant to the approved establishment plan and sale and purchase agreement. The shares are fully paid up.

Revaluation reserve

| | 2006
$000's | 2005
$000's |
|------------------------------|----------------|----------------|
| Opening balance | 431,832 | 350,017 |
| Revaluation of electricity distribution network, land & buildings | - | 82,314 |
| Disposal of revalued assets | (808) | 501 |
| Deferred tax liability adjustment | - | (1,000) |
| | 431,024 | 431,832 |

The revaluation reserve is comprised as follows:

| | 2006
$000's | 2005
$000's |
|------------------|----------------|----------------|
| Land and buildings | 44,837 | 44,925 |
| Distribution system| 386,187 | 386,907 |

Total revaluation reserve | 431,024 | 431,832 |

Financial instruments

The estimated fair values of the company’s financial instruments are as follows:

| | Carrying amount 2006
$000's | Fair value 2006
$000's | Carrying amount 2005
$000's | Fair value 2005
$000's |
|------------------------------|---------------------|-------------------|---------------------|-------------------|
| Cash and short term investments| 40,000 | 40,000 | 40,000 | 40,000 |
| Borrowings | - | - | - | - |
| Interest rate swap asset | 124 | | 474 | |

The company anticipates that long term borrowings will be held to maturity.

VUW Te Waharoa — NZ Gazette 2006, No 146

Gazette.govt.nz — NZ Gazette 2006, No 146

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Financial Disclosure for Orion New Zealand Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated7 November 2006
KeywordsFinancial Statements, Equity, Share Capital, Retained Earnings, Revaluation Reserve, Financial Instruments

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