New Zealand Gazette – 2008 – No. 35

Page 821

✨ Financial Statements



25 FEBRUARY 2008 NEW ZEALAND GAZETTE, No. 35

15 RECONCILIATION OF NET SURPLUS TO NET CASH FLOW FROM OPERATING ACTIVITIES

2007 $ 2006 $
Reported Net Profit After Tax 1,512,341 2,218,627

Add Non Cash items:
| Movement in Deferred Taxation | 1,754,528 | 1,651,720 |
| Capital Gain on Assets | 0 | 0 |
| Unclaimed Dividends to 2004 | (9,993) | 0 |
| Loss on Sale of Assets | 4,529 | 1,371 |
| Depreciation Recovered | (3,275) | (10,041) |
| Depreciation | 4,237,983 | 4,217,811 |
| Total | 7,496,113| 8,079,488|

Add (less) Movements in Working Capital Items:
| Decrease (Increase) in Receivables | (175,362) | (265,759) |
| Decrease (Increase) in Inventories | (1,160,969)| (221,871) |
| (Decrease) Increase in Accounts Payable | (295,282) | 574,496 |
| (Decrease) Increase in Tax Payable | (416,468) | (62,924) |
| Total | (2,048,081) | 23,942 |

| Net Cash Flows from Operating Activities | 5,428,032 | 8,103,430 |

16 ANNUAL ODV VALUATION RECONCILIATION

2007 $ 2006 $
System fixed assets at ODV – end of previous financial year 115,932,633 110,848,473
Add system fixed assets acquired during the year at ODV 10,569,308 8,853,625
Less system fixed assets disposed of during the year at ODV (480) (2,593)
Less depreciation on system fixed assets at ODV (3,764,585) (3,764,872)
Add revaluations of system fixed assets 0 0
System fixed assets at ODV – end of financial year 122,736,876 115,932,633

17 INTERNATIONAL FINANCIAL REPORTING STANDARDS

Adoption of the New Zealand equivalent of the International Financial reporting Standards may result in changes to accounting policies which will have an impact on the reported financial performance of the company.

The Company is one of a group of lines companies that engaged the services of Ernst & Young to provide advice and assistance to implement the International Financial Reporting Standards from 1 April 2007. At this stage no reliable estimate can be made to quantify the impact on the Company’s results from adopting International Financial reporting Standards.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2008, No 35


Gazette.govt.nz — PDF NZ Gazette 2008, No 35




✨ LLM interpretation of page content

🏭 Electricity Ashburton Ltd Financial Statements Notes (continued from previous page)

🏭 Trade, Customs & Industry
31 March 2007
Financial Statements, Commitments, Contingent Liabilities, Segment Information, Related Parties, Labour Costs, Construction Costs, Maintenance Costs

🏭 Reconciliation of Net Surplus to Net Cash Flow from Operating Activities

🏭 Trade, Customs & Industry
Financial Statements, Net Surplus, Cash Flow, Operating Activities, Depreciation, Taxation

🏭 Annual ODV Valuation Reconciliation

🏭 Trade, Customs & Industry
Financial Statements, ODV Valuation, Fixed Assets, Depreciation, Revaluations

🏭 Adoption of International Financial Reporting Standards

🏭 Trade, Customs & Industry
Financial Reporting Standards, Accounting Policies, Ernst & Young