B—l [PT. IV]

Balance-sheet at 31st March, 1946, compared with Position at 31st March, 1945

13

31/3/46. 31/3/45. 31/3/46. 31/3/45. Liabilities & & £ Assets £ £ £ Depreciation Reserve .. .. .. .. 2,382,622 2,069,631 Hydro-electric plants— Arapuni .. .. .. .. 3,016,072 2,817,870 Loan Redemption Fund — Horahora .. .. .. .. 327,018 327,101 Utilized for redemption of loans .. 2,025,045 1,892,720 Mangahao .. .. .. .. 1,374,050 1,373,836 Available for further redemptions .. .. 132,325 Waikaremoana (Tuai) .. .. 927,580 882,094 2,025,045 Waikaremoana (Piripaua) .. .. 1,032,437 1,005,989 2,025,04:5 6,677,157 6,406,888 Reserve Fund .. .. .. .. .. .. .. Fuel-plants — King's Wharf .. .. .. 339,645 339,166 Sundry creditors .. •• •• .. .. 434,682 253,399 Penrose .. .. .. .. 66,522 66,522 Sundry credit balances .. .. .. .. 235 800 Huntly .. .. .. .. 11,264 11,264 Head Office Account .. 15,923,758 13,632,885 417,431 416,952 Transmission-lines system .. .. .. 2,603,997 2,575,912 Substations 2,525,368 2,138,302 Communication system .. .. .. .. 225,351 216,908 Distribution system .. .. .. .. 71,425 69,677 Offices, stores, land, buildings, &c. .. .. 185,089 182,221 Cost of raising loans .. .. .. .. 332,533 332,978 Interest during construction — On assets in operation .. .. 1,145,918 1,118,585 On assets not in operation .. .. 278,487 162,807 1,424,405 1,281,392 Works under construction .. .. .. 5,225,281 3,266,982 19,688,037 16,888,212 Plant, motor-vehicles, and tools .. .. .. 122,722 101,832 Stocks of materials .. .. .. .. 462,091 492,356 — Sundry debtors .. .. .. .. .. 493, 492 499, 360 £20,766,342 £17,981,760 = L==== £20,766,342 £17,981,760 Contingent Liability 1 " Arrears of Appropriation to Loan Redemption .. £376,532 £103,943 Fund i i