New Zealand Gazette – 2012 – No. 152

Page 4521

✨ Financial Statements



21 DECEMBER 2012

NEW ZEALAND GAZETTE, No. 152

4521

VECTOR LIMITED & SUBSIDIARIES

GAS DISTRIBUTION ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2012

6. NOTIONAL RESERVES

2012 2011
$000 $000
Balance at beginning of the period 271,325 253,518
Net profit for the period 20,395 17,807
Balance at end of the period 291,720 271,325

7. INTANGIBLE ASSETS

COST ACCUMULATED AMORTISATION CARRYING AMOUNT
2012 $000 $000 $000
Goodwill 166,427 - 166,427
Software 15,102 (11,780) 3,322
Other 1,679 (300) 1,379
Total 183,208 (12,080) 171,128
COST ACCUMULATED AMORTISATION CARRYING AMOUNT
2011 $000 $000 $000
Goodwill 166,427 - 166,427
Software 13,736 (10,657) 3,079
Other 1,672 (257) 1,415
Total 181,835 (10,914) 170,921

8. PROPERTY, PLANT AND EQUIPMENT

COST ACCUMULATED DEPRECIATION CARRYING AMOUNT
2012 $000 $000 $000
Distribution systems 495,740 (68,719) 427,021
Plant, vehicles and equipment 7,217 (5,725) 1,492
Capital work in progress 454 - 454
Total 503,411 (74,444) 428,967
COST ACCUMULATED DEPRECIATION CARRYING AMOUNT
2011 $000 $000 $000
Distribution systems 475,930 (58,569) 417,361
Plant, vehicles and equipment 6,821 (5,342) 1,479
Capital work in progress 312 - 312
Total 483,063 (63,911) 419,152

Interest and other internal costs are capitalised to property, plant and equipment while under construction. Interest is capitalised against property, plant and equipment largely at a capitalisation rate of 6.9% (30 June 2011: 7%) per annum. During the year $0.3 million (30 June 2011: $0.4 million) of interest was capitalised.



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Gazette.govt.nz — PDF NZ Gazette 2012, No 152




✨ LLM interpretation of page content

🏭 Statement of Accounting Policies for Vector Limited & Subsidiaries (continued from previous page)

🏭 Trade, Customs & Industry
Financial statements, Notional reserves, Intangible assets, Property, Plant and equipment, Amortisation, Depreciation