New Zealand Gazette – 2008 – No. 46

Page 1306

✨ Financial Statements

POWERCO

ELECTRICITY DIVISION

Balance Sheet

As at 31 March 2007

| | Notes | 31 March 2007
| | | $'000 | 30 June 2006
| | | | $'000 |
|---------------------------|-------|---------------|---------------|
| Equity | | | |
| Contributed capital | | 438,228 | 431,359 |
| Retained earnings | | (25,688) | (21,865) |
| Reserves | | (615) | (4,165) |
| | | 411,925 | 405,329 |
| Non Current Liabilities| | | |
| Borrowings | 1 | 501,416 | 512,293 |
| Other financial liabilities| 2 | 42,653 | 33,656 |
| Deferred taxation | 8 | 43,305 | 30,652 |
| | | 587,374 | 576,601 |
| Current Liabilities | | | |
| Borrowings | 1 | 110,151 | 99,577 |
| Trade and other payables | | 18,334 | 20,671 |
| Provisions | 4 | 1,508 | 1,810 |
| Tax payable | | 2,600 | 5,303 |
| | | 132,593 | 127,361 |
| Total Equity and Liabilities | | 1,131,892 | 1,109,291 |

| Non Current Assets | | | |
| Property, plant and equipment | 5 | 970,337 | 966,886 |
| Intangibles | 6 | 2,333 | - |
| Other financial assets | 2 | 12,083 | 3,757 |
| Inter-division account | | 126,395 | 115,859 |
| | | 1,111,148 | 1,086,502 |

| Current Assets | | | |
| Trade and other receivables | 7 | 18,650 | 22,124 |
| Other financial assets | 2 | 2,094 | 665 |
| | | 20,744 | 22,789 |

| Total Assets | | 1,131,892 | 1,109,291 |

The accompanying notes form part of these financial statements

VUW Te Waharoa — NZ Gazette 2008, No 46

Gazette.govt.nz — NZ Gazette 2008, No 46

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

🏭 Audit Report for Powerco Limited – Electricity Division (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated25 February 2008
KeywordsAudit, Financial Statements, Powerco Limited, Electricity Division, Compliance, Disclosure Requirements

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