✨ Financial Statements Notes
NELSON ELECTRICITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
for the year to 31 March 2007
4. Deferred Taxation
| 31-Mar-07 | 31-Mar-06 | |
|---|---|---|
| Balance 1 April | $000 | $000 |
| (11) | (10) | |
| Current Period Provision | ||
| Balance 31 March | (11) | (11) |
5. Share Capital
| 31-Mar-07 | 31-Mar-06 | |
|---|---|---|
| Share Capital | $000 | $000 |
| 1 | 1 |
As at 31 March 2007 Marlborough Lines Ltd and Network Tasman Ltd each held 500 shares. (2006 500 shares each)
6. Retained Earnings
| 31-Mar-07 | 31-Mar-06 | |
|---|---|---|
| Opening Balance 1 April | $000 | $000 |
| 132 | 1,062 | |
| Net Surplus for Year | 1,604 | 1,970 |
| Dividends Paid | (2,120) | (3,800) |
| Closing Balance 31 March | (384) | 132 |
7. Reserves
| 31-Mar-07 | 31-Mar-06 | |
|---|---|---|
| Pre acquisition Reserves (Retained earnings accumulated to 19.06.96 when the company was purchased by Marlborough Lines Ltd and Network Tasman Ltd) | $000 | $000 |
| 1,291 | 1,291 | |
| Revaluation Reserves - Credits to Revaluation Reserves | ||
| Land and Buildings | 1,054 | 1,054 |
| Distribution System assets | 18,928 | 18,928 |
| 19,982 | 19,982 |
Distribution system assets were revalued as at 1 April 2004 to current depreciated replacement cost (DRC). The valuation was completed in accord with the requirements of FRS 3 by PricewaterhouseCoopers and their valuation report is dated 6 May 2005. The company’s Haven Road land was also revalued to net current value as at 1 April 2004.
8. Plant Property and Equipment
| As At | As At | |
|---|---|---|
| 31-Mar-07 | 31-Mar-06 | |
| $000 | $000 | |
| Land (at valuation) | 1,163 | 1,163 |
| Buildings (at cost) | 175 | 175 |
| Accumulated Depreciation | (89) | (86) |
| Book Value | 86 | 89 |
| Distribution System Assets (at valuation) |
| Subtransmission Assets | 3,959 | 3,928 |
| Accumulated Depreciation | (1,787) | (1,710) |
| Book Value | 2,172 | 2,218 |
| Zone Substations | 3,273 | 3,253 |
| Accumulated Depreciation | (2,083) | (1,999) |
| Book Value | 1,190 | 1,254 |
| Distribution Assets | 36,289 | 35,885 |
| Accumulated Depreciation | (18,533) | (17,807) |
| Book Value | 17,756 | 18,078 |
| Other System Fixed Assets | 3,525 | 3,350 |
| Accumulated Depreciation | (1,714) | (1,637) |
| Book Value | 1,811 | 1,713 |
| Plant and Equipment (at cost) | 270 | 252 |
| Accumulated Depreciation | (208) | (192) |
| Book Value | 62 | 60 |
| Capital Work in Progress | 18 | 0 |
| Total Fixed Assets | 24,258 | 24,575 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 13
Gazette.govt.nz —
NZ Gazette 2008, No 13
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Notes to the Financial Statements for Nelson Electricity Limited
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🏭 Trade, Customs & IndustryFinancial Statements, Deferred Taxation, Share Capital, Retained Earnings, Reserves, Plant Property and Equipment, Nelson Electricity Limited