New Zealand Gazette – 2006 – No. 171

Page 4951

✨ Financial Statements



CENTRALINES LIMITED - Lines Business

Notes to the Financial Statements

For the year ended 31 March 2006

Note 2. Surplus before Taxation

2006 2005
$'000 $'000
Operating Revenue
Network 6,623 6,656
AC Loss Rebate 109 256
Customer contributions 460 326
Interest revenue 128 89
Other Income 5 7
7,325 7,334

| Depreciation | | |
| Electrical distribution system | 1,501 | 1,473 |
| Motor vehicles | 6 | 6 |
| GIS | 55 | 55 |
| | 1,562 | 1,534 |

| Operating Expenses | | |
| Audit New Zealand - audit services | 45 | 42 |
| Audit New Zealand - disclosure accounts | 7 | 6 |
| Fees paid to other auditors| 8 | 20 |
| Remuneration paid to directors | 85 | 85 |
| All other operating expenses | 2,849 | 3,763 |
| | 2,994 | 3,916 |

Surplus before discounts and tax | 2,769 | 1,884 |

Discount | - | 495 |

Surplus before taxation | 2,769 | 1,389 |

Note 3. Investments

2006 2005
$'000 $'000
Current
Short term deposits held with registered banks 1,900 900
Current investments of other listed securities 552 216
2,452 1,116

Market fluctuations in interest rates affect the earnings on these investments but Company policy of placing deposits with high credit quality financial institutions minimises the credit exposure

Fair and market value information

Listed securities | 549 | 422 |
The market value is based on prices quoted on the stock exchanges at balance date

Fixed interest securities - interest rates

The range of interest rates on investments were:

Short term bank investments | 7.15% - 7.42% | 6.6% - 6.8% |

Listed securities: | 7.17% - 7.40% | 8.0% - 8.0% |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 171


Gazette.govt.nz — PDF NZ Gazette 2006, No 171




✨ LLM interpretation of page content

💰 Centralines Limited Financial Position (continued from previous page)

💰 Finance & Revenue
Financial Statement, Income Tax, Imputation Credit, Centralines Limited