New Zealand Gazette – 2008 – No. 50

Page 1418

✨ Financial Statements Notes

TOP ENERGY LIMITED-LINE BUSINESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2007

	LINE BUSINESS
	2007
	$
9 PAYABLES
Accounts payable and accruals	3,698,589
Payroll & other provisions	204,484
	3,903,073

10 FIXED ASSETS

	Cost or Valuation		Acc. Depreciation		Net Book Value
	2007	2006	2007	2006	2007	2006
Land & Buildings at valuation	1,522,342	1,522,342	(50,355)	(49,117)	1,471,987	1,473,224
Distribution system
- At Cost	135,812,121	111,420,078	-	(8,138,484)	135,812,121	103,281,594
- At Valuation	135,812,121	102,259,676	-	(7,953,238)		94,306,438
Centralised load control equipment	183,879	183,879	-	(43,500)	183,879	140,379
Office equipment & furniture	182,004	167,997	(127,089)	(115,914)	54,915	52,083
Information system & billing assets	2,783,074	2,155,331	(2,291,643)	(1,608,315)	491,431	547,015
Vehicles	219,334	163,444	(132,154)	(70,975)	87,180	92,468
Capital work in progress	1,095,037	1,414,169	-	-	1,095,037	1,414,169
Total fixed assets	141,797,791	117,027,239	(2,601,241)	(10,026,306)	139,196,550	107,000,933

i) Land & buildings were revalued at 31 March 2004 by Telfer Young Ltd, registered valuers.

The Distribution system was revalued by independent engineering consultants, Sinclair Knight & Mertz. The valuation was carried out at 31 March 2007 and the report is dated 17 May 2007. Subsequent additions are at cost. The valuation is based on depreciated replacement cost (DRC) of the distribution system asset. The Directors consider this valuation to be fair.

VUW Te Waharoa — NZ Gazette 2008, No 50

Gazette.govt.nz — NZ Gazette 2008, No 50

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

🏭 Notes to Financial Statements of Top Energy Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial statements, Payables, Fixed assets, Land valuation, Distribution system, Depreciation

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