✨ Financial Statements
ALPINE ENERGY LIMITED LINES BUSINESS
BALANCE SHEET
At the date of transition to NZIFRS: As at 1 April 2005
Reconciliation of equity reported under previous New Zealand Financial Reporting Standards (NZFRS) to equity under New Zealand equivalents to IFRS (NZIFRS).
| Previous NZFRS 2005 $ | Transition to NZIFRS 2005 $ | Effect of Transition to NZIFRS 2005 $ | |
|---|---|---|---|
| Current assets | |||
| Cash and bank balances | 94,555 | 0 | 94,555 |
| Short-term investments | 3,000,000 | 0 | 3,000,000 |
| Inventories | 0 | 0 | 0 |
| Accounts receivable | 1,107,869 | 0 | 1,107,869 |
| Other current assets | 4,199 | 0 | 4,199 |
| Total current assets | 4,206,453 | 0 | 4,206,453 |
| Fixed assets | | | |
| System property, plant and equipment | 83,077,000 | (i)(1,145,563) | 81,931,437 |
| Consumer billing and information system assets | 0 | 0 | 0 |
| Motor vehicles | 0 | 0 | 0 |
| Office equipment | 0 | 0 | 0 |
| Land and buildings | 0 | 0 | 0 |
| Capital works under construction (system fixed assets) | 4,193,656 | 0 | 4,193,656 |
| Other property, plant and equipment | 0 | 0 | 0 |
| Total fixed assets | 87,270,656 | (1,145,563) | 86,125,093 |
| Other tangible assets not listed above |
| Deferred tax | 0 | 0 | 0 |
| Total tangible assets | 91,477,109 | (1,145,563) | 90,331,546 |
| Intangible assets | | |
| Goodwill | 0 | 0 | 0 |
| Other intangibles | 0 | 20,580 | 20,580 |
| Total intangible assets | 0 | 20,580 | 20,580 |
| Total assets | 91,477,109 | (1,124,983) | 90,352,126 |
| Current liabilities | | |
| Bank overdraft | 0 | 0 | 0 |
| Short-term borrowings | 0 | 0 | 0 |
| Payables and accruals | 2,211,489 | 144,369 | 2,355,858 |
| Provision for dividends payable | 0 | 0 | 0 |
| Provision for income tax | 939,729 | 0 | 939,729 |
| Other current liabilities | 0 | 0 | 0 |
| Total current liabilities | 3,151,218 | 144,369 | 3,295,587 |
| Non-current liabilities | | |
| Payables and accruals | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 |
| Deferred tax | 14,885,882 | 47,642 | 14,933,524 |
| Other non-current liabilities | 0 | 0 | 0 |
| Total non-current liabilities | 14,885,882 | 47,642 | 14,933,524 |
| Equity | | |
| Shareholders' equity | | |
| Share capital | 26,596,000 | 0 | 26,596,000 |
| Retained earnings | 11,937,009 | (1,316,994) | 10,620,015 |
| Reserves | 34,907,000 | 0 | 34,907,000 |
| Total Shareholders' equity | 73,440,009 | (1,316,994) | 72,123,015 |
| Minority interests in subsidiaries | 0 | 0 | 0 |
| Total equity | 73,440,009 | (1,316,994) | 72,123,015 |
| Capital notes | 0 | 0 | 0 |
| Total capital fund | 73,440,009 | (1,316,994) | 72,123,015 |
| Total equity and liabilities | 91,477,109 | (1,124,983) | 90,352,126 |
(i) Reclassification of revaluation reserve to retained earnings on using the deemed cost option.
(ii) Establishment of a long service provision in accordance with NZ IAS 19.
(iii) As the network asset is no longer carried at a revalued amount adjustments are required for network disposals.
(iv) Deferred tax has been adjusted where required for the above items.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 47
Gazette.govt.nz —
NZ Gazette 2008, No 47
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Balance Sheet for Alpine Energy Limited Lines Business at Transition to NZIFRS
(continued from previous page)
🏭 Trade, Customs & Industry1 April 2005
Balance sheet, Financial reporting, NZIFRS transition, Current assets, Fixed assets, Liabilities, Equity, Shareholders' equity, Retained earnings, Reserves