New Zealand Gazette – 2006 – No. 150

Page 4350

✨ Financial Statements



4350

NEW ZEALAND GAZETTE, No. 150

27 NOVEMBER 2006

Valuation Information

Distribution system assets, excluding meters and relays, were revalued to $106,860,000 at 31 March 2004. As the fair value of the assets is not able to be reliably determined using market based evidence the valuation was prepared on a depreciated replacement cost basis. The valuation was prepared by Sinclair Knight Merz Limited.

Land and Buildings

The major property holding of the Company comprises the depot complex at Glasgow Road and Nelson Street, Pukekohe. Other property held mainly comprises electricity substation sites. The majority of properties were valued as at 1 July 2003 by Value and Management Services Limited as part of a General Revaluation by the Franklin District Council. Quotable Value New Zealand also completed two valuations on behalf of the Papakura District Council.

The values of these properties were:

2006 2005
Net Book Value $000 $000
Glasgow Road Complex 1,625 1,698
Other Land & Buildings 2,109 1,655
3,734 3,353

Valuation
Glasgow Road Complex 2,785 2,785
Other Land & Buildings 2,276 2,014
5,061 4,799

11. OPERATING LEASE COMMITMENT

Counties Power Limited Lines Business had no operating lease commitments (2005: Nil).

12. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

Counties Power Limited Lines Business had Capital Commitments at 31 March 2006 totaling $751,932 (2005: nil).

There were no contingent liabilities (2005: $10,000).



Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 150


Gazette.govt.nz — PDF NZ Gazette 2006, No 150




✨ LLM interpretation of page content

🏭 Counties Power Limited - Financial Statements Notes (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Valuation, Assets, Liabilities, Commitments