✨ Financial Statements Notes
VECTOR LIMITED & SUBSIDIARIES
GAS TRANSMISSION ACTIVITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2011
6. NOTIONAL RESERVES
| 2011 | 2010 | |
|---|---|---|
| $000 | $000 | |
| Balance at beginning of the period | 323,200 | 285,854 |
| Net profit for the period | 32,660 | 37,346 |
| Balance at end of the period | 355,860 | 323,200 |
7. INTANGIBLE ASSETS
| COST | ACCUMULATED AMORTISATION | CARRYING AMOUNT | |
|---|---|---|---|
| $000 | $000 | $000 | |
| 2011 | |||
| Goodwill | 289,780 | (20,137) | 289,780 |
| Software | 23,959 | (20,137) | 3,822 |
| Other | 10,654 | (1,638) | 9,016 |
| Total | 324,393 | (21,775) | 302,618 |
| COST | ACCUMULATED AMORTISATION | CARRYING AMOUNT | |
|---|---|---|---|
| $000 | $000 | $000 | |
| 2010 | |||
| Goodwill | 289,780 | - | 289,780 |
| Software | 37,489 | (27,753) | 9,736 |
| Other | 10,654 | (1,335) | 9,289 |
| Total | 337,923 | (29,118) | 308,805 |
8. PROPERTY, PLANT AND EQUIPMENT
| 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 |
| COST | ACCUMULATED DEPRECIATION | CARRYING AMOUNT | |
|---|---|---|---|
| $000 | $000 | $000 | |
| 2010 | |||
| Pipelines, compressors and gate stations | 489,069 | (58,002) | 431,067 |
| Plant, vehicles and equipment | 22,350 | (15,859) | 6,491 |
| Capital work in progress | 6,115 | - | 6,115 |
| Total | 517,534 | (73,861) | 443,673 |
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 7% per annum. During the year $0.6 million (30 June 2010: $0.1 million) of interest and other costs were capitalised.
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NZ Gazette 2012, No 24
✨ LLM interpretation of page content
💰
Statement of Accounting Policies for Vector Limited Gas Transmission Activities
(continued from previous page)
💰 Finance & RevenueAccounting Policies, Financial Statements, Gas Transmission, Vector Limited, Impairment, Recoverable Amount, Fair Value, Cash Flows, Discount Rate, Impairment Loss
💰 Notes to the Financial Statements for Vector Limited & Subsidiaries Gas Transmission Activities
💰 Finance & RevenueFinancial Statements, Notes, Notional Reserves, Intangible Assets, Property, Plant and Equipment, Goodwill, Software, Pipelines, Compressors, Gate Stations, Capital Work in Progress