✨ Financial Statements
VECTOR LIMITED & SUBSIDIARIES
GAS DISTRIBUTION ACTIVITIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2007
4. NOTIONAL RESERVES
|
2007 |
2006 |
|
$000 |
$000 |
| Balance at beginning of the year |
175,474 |
100,473 |
| Net deficit for the year |
(8,285) |
(13,209) |
| Reset of equity position |
- |
88,210 |
| Balance at end of the year |
167,189 |
175,474 |
5. ASSET REVALUATION RESERVE
|
2007 |
2006 |
|
$000 |
$000 |
| Balance at beginning of year |
20,123 |
- |
| Movement on revaluation (net of deferred tax) |
- |
20,123 |
| Balance at end of year |
20,123 |
20,123 |
6. RECEIVABLES AND PREPAYMENTS
|
2007 |
2006 |
|
$000 |
$000 |
| Current |
|
|
| Prepayments and other receivables |
458 |
230 |
| Trade receivables |
7,865 |
5,686 |
| Provision for doubtful debts |
(124) |
(14) |
| Total |
8,189 |
5,902 |
| Non-current |
|
|
| Other receivables |
125 |
188 |
| Total |
125 |
188 |
7. PROPERTY, PLANT AND EQUIPMENT
|
COST / VALUATION |
ACCUMULATED DEPRECIATION |
NET BOOK VALUE |
|
$000 |
$000 |
$000 |
| 2007 |
|
|
|
| Freehold land |
30 |
- |
30 |
| Distribution systems |
396,891 |
(23,807) |
373,084 |
| Plant, vehicles and equipment |
21,792 |
(17,427) |
4,365 |
| Capital work in progress |
14,495 |
- |
14,495 |
| Total |
433,208 |
(41,234) |
391,974 |
|
COST / VALUATION |
ACCUMULATED DEPRECIATION |
NET BOOK VALUE |
|
$000 |
$000 |
$000 |
| 2006 |
|
|
|
| Freehold land |
713 |
- |
713 |
| Distribution systems |
381,762 |
(14,022) |
367,740 |
| Plant, vehicles and equipment |
16,043 |
(12,455) |
3,588 |
| Capital work in progress |
20,415 |
- |
20,415 |
| Total |
418,933 |
(26,477) |
392,456 |
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Notes to the Financial Statements for Gas Distribution Activities
(continued from previous page)
🏭 Trade, Customs & Industry
Financial statements, Notional reserves, Asset revaluation, Receivables, Property, Plant and equipment
NZ Gazette 2007, No 132