✨ Financial Statements
3 MARCH 2008 NEW ZEALAND GAZETTE, No. 47
1355
ALPINE ENERGY LIMITED LINES BUSINESS
BALANCE SHEET
At the end of the year under previous NZFRS: As at 31 March 2006
Reconciliation of equity reported under previous New Zealand Financial Reporting Standards (NZFRS) to equity under New Zealand equivalents to IFRS (NZIFRS).
| Previous NZFRS 2006 $ | Effect of Transition to NZIFRS 2006 $ | NZIFRS 2006 $ | |
|---|---|---|---|
| Current assets | |||
| Cash and bank balances | 90,418 | 0 | 90,418 |
| Short-term investments | 2,700,000 | 0 | 2,700,000 |
| Inventories | 0 | 0 | 0 |
| Accounts receivable | 669,230 | 0 | 669,230 |
| Other current assets | 5,849 | 0 | 5,849 |
| Total current assets | 3,465,497 | 0 | 3,465,497 |
| | | | |
| Fixed assets | | | |
| System property, plant and equipment | 85,247,000 | (1,660,827) | 83,586,173 |
| Consumer billing and information system assets | (iii) | 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) | 5,280,205 | 0 | 5,280,205 |
| Other property, plant and equipment | 0 | 0 | 0 |
| Total fixed assets | 90,527,205 | (1,660,827) | 88,866,378 |
| Other tangible assets not listed above | 0 | 0 | 0 |
| Deferred tax | 0 | 0 | 0 |
| Total tangible assets | 93,992,702 | (1,660,827) | 92,331,875 |
| Intangible assets | | | |
| Goodwill | 0 | 0 | 0 |
| Other intangibles | 0 | 22,331 | 22,331 |
| Total intangible assets | 0 | 22,331 | 22,331 |
| Total assets | 93,992,702 | (1,638,496) | 92,354,206 |
| Current liabilities | | | |
| Bank overdraft | 0 | 0 | 0 |
| Short-term borrowings | 0 | 0 | 0 |
| Payables and accruals | 1,858,393 | 137,972 | 1,996,365 |
| Provision for dividends payable | (ii) | 0 | 0 |
| Provision for income tax | 1,145,845 | 0 | 1,145,845 |
| Other current liabilities | 0 | 0 | 0 |
| Total current liabilities | 3,004,148 | 137,972 | 3,142,120 |
| Non-current liabilities | | | |
| Payables and accruals | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 |
| Deferred tax | (iv) | 16,233,902 | 45,531 | 16,279,433 |
| Other non-current liabilities | 0 | 0 | 0 |
| Total non-current liabilities | 16,233,902 | 45,531 | 16,279,433 |
| Equity | | | |
| Shareholders' equity | | | |
| Share capital | 26,596,000 | 0 | 26,596,000 |
| Retained earnings | 13,251,652 | (1,821,999) | 11,429,653 |
| Reserves | 34,907,000 | 0 | 34,907,000 |
| Total Shareholders' equity | 74,754,652 | (1,821,999) | 72,932,653 |
| Minority interests in subsidiaries | 0 | 0 | 0 |
| Total equity | 74,754,652 | (1,821,999) | 72,932,653 |
| Capital notes | 0 | 0 | 0 |
| Total capital funds | 74,754,652 | (1,821,999) | 72,932,653 |
| Total equity and liabilities | 93,992,702 | (1,638,496) | 92,354,206 |
(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)
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