New Zealand Gazette – 2008 – No. 43

Page 1250

✨ Financial Statements Notes

THE POWER COMPANY LIMITED LINE BUSINESS

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2007

	Group	Group	Parent	Parent
	2007	2006	2007	2006
	$000	$000	$000	$000

2. Operating Revenue

Operating Revenue Comprises:

Network Charges | 29,172 | 26,474 | 13,435 | 12,302 |
AC Loss Rental Rebates | 881 | 1,191 | - | - |
Interest on Investments | - | - | 252 | 215 |
Other Revenue | 2,605 | 1,725 | 2,165 | 1,578 |

Total Operating Revenue | 32,658 | 29,390 | 15,852 | 14,095 |

3. Operating Expenses

Operating Expenses Include:

Auditors Remuneration:
- Statutory Audit | 27 | 31 | 18 | 17 |
- Other | 16 | 29 | 6 | 29 |
Bad Debts Written Off | - | 5 | - | - |
Depreciation:
- Office Equipment | 131 | 167 | 1 | 1 |
- Network | 9,645 | 9,484 | 9,645 | 9,484 |
- Buildings | 5 | 8 | - | - |
- Plant & Equipment | 58 | 86 | - | - |
Directors' Fees | 129 | 132 | 82 | 82 |
Interest Expense | 302 | 53 | 176 | - |
Loss on Disposal of Fixed Assets | 351 | 239 | 351 | 238 |

4. Equity

Capital Reserve | 28,847 | 28,847 | 28,847 | 28,847 |
Asset Revaluation Reserve (see below) | 198,714 | 161,093 | 198,714 | 161,093 |
Retained Earnings | 18,031 | 19,983 | 17,288 | 18,956 |

Total Equity | 245,592 | 209,923 | 244,849 | 208,896 |

Asset Revaluation Reserve

Opening Balance | 161,093 | 161,093 | 161,093 | 161,093 |
Revaluation in the Year | 37,621 | - | 37,621 | - |

Closing Balance | 198,714 | 161,093 | 198,714 | 161,093 |

5. Receivables and Prepayments

Trade Debtors | 2,028 | 3,050 | 1,170 | 1,243 |
Prepayments | 162 | 149 | 62 | 58 |

Total Receivables and Prepayments | 2,190 | 3,199 | 1,232 | 1,301 |

VUW Te Waharoa — NZ Gazette 2008, No 43

Gazette.govt.nz — NZ Gazette 2008, No 43

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Financial Statements for The Power Company Limited Line Business (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Instruments, Operating Leases, Foreign Currency, Employee Entitlements, Accounting Policies

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