✨ Financial Statements
HORIZON ENERGY DISTRIBUTION LIMITED - Lines Business
NOTES TO THE FINANCIAL STATEMENTS
| NOTE | Lines Business 2007 $000 | Lines Business 2006 $000 |
|---|
5 SHARE CAPITAL
Share Capital - Issued and paid up
Opening Balance | 8,432 | 8,432 |
Balance as at 31 March | 8,432 | 8,432 |
| | 2007 | 2006 |
| | No. of Shares | No. of Shares |
Shares issued - fully paid | 24,991,385 | 24,991,385 |
Shares issued | 24,991,385 | 24,991,385 |
6 RESERVES
| 2007 $000 | 2006 $000 | |
|---|---|---|
| Asset Revaluation Reserve | ||
| Opening Balance | 58,067 | 58,067 |
| Plus Revaluation of System Fixed Assets | 19,949 | - |
Balance as at 31 March | 78,016 | 58,067 |
7 RETAINED EARNINGS
| 2007 $000 | 2006 $000 | |
|---|---|---|
| Opening Retained Earnings | (21,480) | (22,007) |
| Surplus after Taxation | 3,033 | 5,336 |
| Plus Retained Earnings distributed from "Other" business | - | - |
| Less Dividends paid | (2,529) | (4,859) |
Balance as at 31 March | (20,976) | (21,480) |
8 ACCOUNTS RECEIVABLE
Accounts Receivable comprises:
| 2007 $000 | 2006 $000 | |
|---|---|---|
| Trade Receivables | 2,839 | 4,494 |
| Less Provision for Doubtful Debts | (14) | (19) |
Balance as at 31 March | 2,825 | 4,475 |
The comparative figure for 2006 for Trade Receivables includes $1.74m relating to the Award monies as detailed in Note 22.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 34
Gazette.govt.nz —
NZ Gazette 2008, No 34
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Financial Statements for Horizon Energy Distribution Limited
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