✨ Financial Statements
21 DECEMBER 2012 NEW ZEALAND GAZETTE, No. 152 4543
VECTOR LIMITED & SUBSIDIARIES
GAS TRANSMISSION 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 | 355,860 | 323,200 |
| Net profit for the period | 33,002 | 32,660 |
| Balance at end of the period | 388,862 | 355,860 |
7. INTANGIBLE ASSETS
| COST | ACCUMULATED AMORTISATION | CARRYING AMOUNT | |
|---|---|---|---|
| $'000 | $'000 | $'000 | |
| 2012 | |||
| Goodwill | 289,780 | - | 289,780 |
| Software | 27,328 | (21,828) | 5,500 |
| Other | 10,903 | (1,935) | 8,968 |
| Total | 328,011 | (23,763) | 304,248 |
| COST | ACCUMULATED AMORTISATION | CARRYING AMOUNT | |
|---|---|---|---|
| $'000 | $'000 | $'000 | |
| 2011 | |||
| Goodwill | 289,780 | - | 289,780 |
| Software | 23,959 | (20,137) | 3,822 |
| Other | 10,654 | (1,638) | 9,016 |
| Total | 324,393 | (21,775) | 302,618 |
8. PROPERTY, PLANT AND EQUIPMENT
| COST | ACCUMULATED DEPRECIATION | CARRYING AMOUNT | |
|---|---|---|---|
| $'000 | $'000 | $'000 | |
| 2012 | |||
| Pipelines, compressors and gate stations | 509,706 | (77,168) | 432,538 |
| Plant, vehicles and equipment | 19,341 | (12,731) | 6,610 |
| Capital work in progress | 7,352 | - | 7,352 |
| Total | 536,399 | (89,899) | 446,500 |
| COST | ACCUMULATED DEPRECIATION | CARRYING AMOUNT | |
|---|---|---|---|
| $'000 | $'000 | $'000 | |
| 2011 | |||
| Pipelines, compressors and gate stations | 498,603 | (67,560) | 431,043 |
| Plant, vehicles and equipment | 18,337 | (11,555) | 6,782 |
| Capital work in progress | 5,909 | - | 5,909 |
| Total | 522,849 | (79,115) | 443,734 |
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 $0.6 million (30 June 2011: $0.6 million) of interest was capitalised.
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NZ Gazette 2012, No 152
✨ LLM interpretation of page content
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Notes to the Financial Statements for Vector Limited & Subsidiaries
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial statements, Notional reserves, Intangible assets, Property, Plant and equipment