✨ Financial Statements
3444 NEW ZEALAND GAZETTE, No. 132 30 NOVEMBER 2007
NGC HOLDINGS LIMITED
GAS TRANSMISSION 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 | 110,216 | 369,445 |
| Net surplus for the year | 19,356 | 11,526 |
| Deferred tax release | 7,844 | - |
| Reset of equity position | - | (270,755) |
| Balance at end of the year | 137,416 | 110,216 |
5. RECEIVABLES AND PREPAYMENTS
| 2007 | 2006 | |
|---|---|---|
| $000 | $000 | |
| Current | ||
| Trade receivables | 6,149 | 6,538 |
| Provision for doubtful debts | (248) | (50) |
| Total | 5,901 | 6,488 |
6. PROPERTY, PLANT AND EQUIPMENT
| COST / VALUATION | ACCUMULATED DEPRECIATION | NET BOOK VALUE | |
|---|---|---|---|
| $000 | $000 | $000 | |
| 2007 | |||
| Pipelines, compressors and gate stations | 446,890 | 35,044 | 411,846 |
| Other plant and equipment | 52,714 | 35,261 | 17,453 |
| Motor Vehicles | 1,822 | 471 | 1,351 |
| Freehold land | 431 | - | 431 |
| Buildings | 4,342 | 1,196 | 3,146 |
| Capital work in progress | 3,102 | - | 3,102 |
| Total | 509,301 | 71,972 | 437,329 |
| COST / VALUATION | ACCUMULATED DEPRECIATION | NET BOOK VALUE | |
|---|---|---|---|
| $000 | $000 | $000 | |
| 2006 | |||
| Pipelines, compressors and gate stations | 438,676 | 23,267 | 415,409 |
| Other plant and equipment | 18,533 | 16,099 | 2,440 |
| Motor Vehicles | 2,286 | 1,184 | 1,102 |
| Freehold land | 366 | - | 366 |
| Buildings | 4,175 | 1,109 | 3,066 |
| Capital work in progress | 9,753 | - | 9,753 |
| Total | 473,795 | 41,659 | 432,136 |
The corporate non-system fixed assets have been allocated to the gas transmission activities in 2007. These assets were not allocated in 2006 but their use was charged to the business by way of a management fee.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2007, No 132
Gazette.govt.nz —
NZ Gazette 2007, No 132
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💰 Finance & RevenueFinancial statements, Accounting policies, Gas transmission, Income recognition, GST, Receivables, Inventories, Income tax, Property, Plant, Equipment, Depreciation, Leased assets, Employee entitlements, Financial instruments, Foreign currencies, Notional reserves, Deferred tax, Equity position