New Zealand Gazette – 2008 – No. 34

Page 789

✨ Financial Statements

HORIZON ENERGY DISTRIBUTION LIMITED - Lines Business

NOTES TO THE FINANCIAL STATEMENTS

9 FIXED ASSETS (Continued)

Depreciation Expense

	Lines Business 2007 $000	Lines Business 2006 $000
Buildings	1	1
Plant and Equipment	109	120
Furniture and Fittings	51	48
Motor Vehicles	54	35
Distribution System	2,812	2,779
Total	3,027	2,983

Useful lives and Depreciation Methods

	Useful Lives 2007 In Years	Useful Lives 2006 In Years
Buildings	40-100	40-100
Distribution System	8-70	8-70
Plant and Equipment	2-10	2-10
Motor Vehicles	5-10	5-10
Furniture and Fittings	10	10

All assets are depreciated on a straight line basis.

10 ACCOUNTS PAYABLE

Accounts Payable comprise:

	Lines Business 2007 $000	Lines Business 2006 $000
Trade Creditors and Accruals	2,189	3,087
Employee Entitlements	328	134
Balance as at 31 March	2,517	3,221

VUW Te Waharoa — NZ Gazette 2008, No 34

Gazette.govt.nz — NZ Gazette 2008, No 34

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✨ LLM interpretation of page content

🏭 Financial Statements for Horizon Energy Distribution Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Fixed Assets, Depreciation, Valuation, Horizon Energy Distribution Limited

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