✨ Financial Statements
VECTOR LIMITED
ELECTRICITY LINES BUSINESS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2007
11. PROPERTY, PLANT AND EQUIPMENT
| | COST/
| | VALUATION | ACCUMULATED | NET BOOK |
| | $000 | DEPRECIATION | VALUE |
| | | $000 | $000 |
|--------------------|------------|-----------------|-----------|
| 2007 | | | |
| System fixed assets | | | |
| Distribution systems| 2,422,276 | (76,642) | 2,345,634 |
| Distribution land | 87,628 | - | 87,628 |
| Distribution buildings| 43,038 | (1,300) | 41,738 |
| Total system fixed assets| 2,552,942 | (77,942) | 2,475,000 |
| Consumer billing and information system assets| 26,494 | (16,201) | 10,293 |
| Motor vehicles | 171 | (114) | 57 |
| Office equipment | - | - | - |
| Land | 295 | - | 295 |
| Buildings | 82 | (8) | 74 |
| Leasehold improvements| 1,848 | (1,021) | 827 |
| Capital works under construction| 115,349 | - | 115,349 |
| Other fixed assets | 1,050 | (573) | 477 |
| Total | 2,698,231 | (95,859) | 2,602,372 |
Non system fixed assets, namely corporate IT assets, are allocated across the electricity business and other businesses. This is a change in allocation methodology from 2006, resulting in a reduction in net book value of these assets by $11.5 million.
| | COST/
| | VALUATION | ACCUMULATED | NET BOOK |
| | $000 | DEPRECIATION | VALUE |
| | | $000 | $000 |
|--------------------|------------|-----------------|-----------|
| 2006 | | | |
| System fixed assets | | | |
| Distribution systems| 2,313,813 | - | 2,313,813 |
| Distribution land | 87,110 | - | 87,110 |
| Distribution buildings| 41,439 | - | 41,439 |
| Total system fixed assets| 2,442,362 | - | 2,442,362 |
| Consumer billing and information system assets| 53,755 | (32,991) | 20,764 |
| Motor vehicles | 125 | (108) | 17 |
| Office equipment | - | - | - |
| Land | 295 | - | 295 |
| Buildings | 271 | (19) | 252 |
| Leasehold improvements| 3,375 | (1,963) | 1,412 |
| Capital works under construction| 69,730 | - | 69,730 |
| Other fixed assets | 1,978 | (1,180) | 798 |
| Total | 2,571,891 | (36,261) | 2,535,630 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 39
Gazette.govt.nz —
NZ Gazette 2008, No 39
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Notes to the Financial Statements for Vector Limited
(continued from previous page)
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