New Zealand Gazette – 2008 – No. 189

Page 4982

✨ Financial Statements



  1. Fixed Assets

Distribution

2008 Distribution 2007
Cost Accumulated Depreciation Book Value Cost Accumulated Depreciation
Distribution network:
Revalued assets $ 26,179,666 $ 2,261,136 $ 23,918,530 $ 23,235,319 $ 1,447,072
At Cost $ - $ - $ - $ 1,580,262 $ 25,912
Fixed assets at cost $ 26,179,666 $ 2,261,136 $ 23,918,530 $ 24,815,581 $ 1,472,984
Leasehold improvements $ 643,562 $ 496,803 $ 146,759 $ 598,703 $ 449,832
Vehicles $ 255,519 $ 139,938 $ 155,581 $ 254,027 $ 107,462
Office equipment $ 75,146 $ 49,756 $ 25,390 $ 68,117 $ 41,467
Furniture & fittings $ 96,986 $ 78,909 $ 18,077 $ 90,665 $ 66,368
Plant & equipment $ 417,503 $ 270,328 $ 147,175 $ 363,362 $ 229,224
Leased assets $ 67,683 $ 63,202 $ 4,481
Computer h\/ware & s\/ware $ 1,161,953 $ 1,059,632 $ 102,321 $ 1,034,318 $ 917,092
Total Assets $ 28,938,018 $ 4,419,704 $ 24,518,314 $ 27,339,457 $ 3,335,606

Retail

2008 Retail 2007
Cost Accumulated Depreciation Book Value Cost Accumulated Depreciation
Fixed assets at cost
Leasehold improvements $ 88,671 $ 68,450 $ 20,221 $ 99,860 $ 75,029
Vehicles $ 40,717 $ 19,281 $ 21,436 $ 42,370 $ 17,924
Office equipment $ 10,354 $ 6,858 $ 3,498 $ 11,361 $ 6,916
Furniture & fittings $ 13,363 $ 10,872 $ 2,491 $ 15,128 $ 11,153
Plant & equipment $ 57,524 $ 37,246 $ 20,278 $ 60,607 $ 38,234
Leased assets $ 9,325 $ 8,708 $ 617 $ 10,784 $ 8,453
Customer Acquisitions $ 934,983 $ 104,056 $ 830,927 -
Computer h\/ware & s\/ware $ 160,096 $ 145,998 $ 14,098 $ 180,857 $ 152,965
Total assets $ 1,315,033 $ 401,467 $ 913,566 $ 420,967 $ 310,674

The distribution network and gas measurement system is valued at depreciated replacement cost, as at 30 June 2008 by Geoff Evans, B.E (Mech) - Network Manager based on a 31 May 2008 revaluation and reviewed in accordance with NZ IAS 16 by Bruce Wattie CA, BCA, Partner - Financial Advisory Services, of PricewaterhouseCoopers, and a NZ IFRS/ODV review by Guenter Wabnitz, Dip Ing, CPEng, MIPENZ, Principal Consultant Gas and Clean Fuels, Maunsell Limited. Technical assistance was provided by James Coe B Sc, B E (Electrical), M.I.A. and member of IPENZ - director JT Consulting Limited. (2007: Revaluation of the Distribution Network and Gas Measurement asset was not carried out).

  1. Accounts Receivable
Distribution Retail
2008 2007 2008 2007
Trade debtors $ 541,776 $ 539,650 $ 3,315,908 $ 3,415,634
Provision for doubtful debts $ (40,820) $ (59,338)
$ 541,776 $ 539,650 $ 3,275,088 $ 3,356,296


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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2008, No 189




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Wanganui Gas Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Accounting Policies, Gas Distribution, Retail, Wanganui Gas Limited
  • Geoff Evans, Network Manager, valued distribution network and gas measurement system
  • Bruce Wattie, Partner - Financial Advisory Services, reviewed revaluation
  • Guenter Wabnitz, Principal Consultant, conducted NZ IFRS/ODV review
  • James Coe, Director, provided technical assistance