New Zealand Gazette – 2006 – No. 156

Page 4556

✨ Financial Statements



Note 3 : Fixed Assets

2005 Book Value $000 Cost or Revaluation $000 Accumulated Depreciation $000 Book Value $000
Line Business
236,925 Network 295,172 10,130 285,042
1,220 Plant 2,029 170 1,859
264 Load Control Equipment 512 61 451
238,409 Subtotal 297,713 10,361 287,352
9,606 Buildings 9,980 473 9,507
2,741 Land 2,741 - 2,741
6 Vehicles 22 1 21
250,762 Subtotal 310,456 10,835 299,621
4 Furniture 5 1 4
6,437 Capital Work in Progress 10,209 - 10,209
257,203 320,670 10,836 309,834

Capital work in progress comprises:

2006 $000 2005 $000
Distribution substations 1,092 721
Low voltage reticulation 3,185 2,278
Distribution lines and cables 2,348 1,798
Distribution transformers 2,533 1,403
Other 163 108
Zone substations 419 129
Transmission reticulation 469 -
10,209 6,437

Note 4 : Deferred Tax Liability

2006 $000 2005 $000
Balance at beginning of year 36,349 30,549
Movement from income tax charge (5,395) 5,800
Balance at end of year 30,954 36,349

Note 5 : Term Debt

2006 $000 2005 $000
Balance at beginning of year 103,800 108,200
Current year borrowing 3,800 -
Current year repayment - (4,400)
Balance at end of the year 107,600 103,800

The Line Business has a borrowing facility allowing it to draw funds up to $110 million. At year-end $107.6 million had been drawn on the facility. The weighted average interest rate on the advances at 31 March 2006 was 7.5%. The repayment period on the advances is between 2 and 10 years as follows:

$000
1 - 2 years -
2 - 5 years -
5 years and greater 107,600


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 156


Gazette.govt.nz — PDF NZ Gazette 2006, No 156




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🏭 Disclosure of Information Required in Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Taxation, Shareholders Funds, Asset Revaluation, Retained Earnings