New Zealand Gazette – 2008 – No. 3

Page 64

✨ Financial Statements and Notes



64 NEW ZEALAND GAZETTE, No. 3 11 JANUARY 2008

Note 3 : Fixed Assets

2006 Book Value $000 Line Business AS AT 31 MARCH 2007 Cost or Revaluation $000 Accumulated Depreciation $000 Book Value $000
285,042 Network 315,586 19,839 295,747
1,859 Plant 2,031 351 1,680
451 Load Control Equipment 512 127 385
287,352 Subtotal 318,129 20,317 297,812
9,507 Buildings 9,987 571 9,416
2,741 Land 2,741 - 2,741
21 Vehicles 41 5 36
299,621 Subtotal 330,898 20,893 310,005
4 Furniture 5 2 3
10,209 Capital Work in Progress 5,639 - 5,639
309,834 336,542 20,895 315,647

Capital work in progress comprises:

2007 $000 2006 $000
Distribution substations 725 1,092
Low voltage reticulation 1,859 3,185
Distribution lines and cables 1,773 2,348
Distribution transformers 1,079 2,533
Other 48 163
Zone substations 155 419
Transmission reticulation - 469
5,639 10,209

Note 4 : Deferred Tax Liability

2007 $000 2006 $000
Balance at beginning of year 30,954 36,349
Movement from income tax charge 3,960 (5,395)
Balance at end of year 34,914 30,954

Note 5 : Term Debt

2007 $000 2006 $000
Balance at beginning of year 107,600 103,800
Current year borrowing - 3,800
Current year repayment (3,350) -
Balance at end of the year 104,250 107,600

The Line Business has a 'borrowing facility allowing it to draw funds up to $110 million. At year-end, $104.25 million had been drawn on the facility. The weighted average interest rate on the advances at 31 March 2007 was 7.66%. The repayment period on the advances is between 2 and 10 years as follows:
1 - 2 years
2 - 5 years
5 years and greater


Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2008, No 3


Gazette.govt.nz — PDF NZ Gazette 2008, No 3




✨ LLM interpretation of page content

🏭 Aurora Energy Limited Disclosure Information (continued from previous page)

🏭 Trade, Customs & Industry
Financial Instruments, Accounting Policies, Bank Accounts, Short-term Deposits, Debtors, Creditors, Loans, Fixed Assets, Deferred Tax Liability, Term Debt