New Zealand Gazette – 2008 – No. 33

Page 758

✨ Financial Statements Notes

758 NEW ZEALAND GAZETTE, No. 33 22 FEBRUARY 2008

Note 4. Sundry Debtors

	2007 $000's	2006 $000's
Line Charge & Sundry Debtors	2,231	1,817
	2,231	1,817

Note 5. Fixed Assets

| | Cost/
| | Valuation
| | $000's | Accumulated
| | | Depreciation
| | | $000's | Book Value 2007
| | | | $000's | Book Value 2006
| | | | | $000's |
|---------------------|-------------|-------------|-------------|-------------|
| At Cost: | | | | |
| Distribution System | 3,246 | 44 | 3,202 | 17,434 |
| Land and Buildings | 1,000 | 269 | 731 | 1,531 |
| Other | | | | 534 |
| | 4,246 | 313 | 3,933 | 19,499 |

| At Valuation: | | | | |
| Distribution System | 94,090 | - | 94,090 | 55,177 |
| Land and Buildings | 1,599 | 84 | 1,515 | 1,540 |
| | | | | |
| Total | 99,935 | 397 | 99,538 | 76,216 |

The fair value of land and buildings is equivalent to the net book value as at 31 March 2007. Carrying value is considered an accurate reflection of fair value.

Note 6. Borrowings

	2007 $000's	2006 $000's
Term Liabilities - Repayable 1-2 years	10,659	11,072
- Repayable 2-5 years	234	402
- Repayable later than 5 years	-	-
	10,893	11,474

Loans are secured as follows:
Short Term Advance Facility $16,000,000* | 10,659 | 11,072 |
Various (No Security) | 234 | 402 |
| | 10,893 | 11,474 |

The National Bank Short Term Advance facility is used to fund the Company's long term debt requirements. The facility is reviewed annually. The roll over of this facility is at the discretion of the bank. The Company has not reason not to expect the facility will continue to be rolled over.

The interest rates payable on these loans are:
Floating Rate - based on 90 day bill rate
Fixed Rates 6.95% - 10.5%

VUW Te Waharoa — NZ Gazette 2008, No 33

Gazette.govt.nz — NZ Gazette 2008, No 33

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✨ LLM interpretation of page content

🏭 Westpower Limited Financial Statements Notes (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Revenue, Expenses, Taxation, Westpower Limited

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