Port Nelson Annual Report 2007 (pdf)

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N O T E S T O T H E A C C O U N T S N O T E 4 : D E F E R R E D T A X ( A S S E T S ) A N D L I A B I L I T I E S Employee Intangible PP&E Derivatives Entitlements Assets Total $000 $000 $000 $000 $000 Opening Balance 4,065 26 (339) 68 3,820 Charged to Profit and Loss (200) - 36 21 (143) Charged to Equity (189) 400 - - 211 B A L A N C E A T 3 3 % 3,676 426 (303) 89 3,888 Tax rate Adjustment Charged to Profit and Loss (114) - 6 (8) (116) Charged to Equity (220) - - - (220) C L O S I N G B A L A N C E 3,342 426 (297) 81 3,552 N O T E 5 : I N V E S T M E N T P R O P E R T Y 2007 2006 $000 $000 Opening Balance 13,983 13,271 Revaluations 722 712 Properties Intended for Sale (394) - C L O S I N G B A L A N C E 14,311 13,983 Properties Intended for Sale An Investment Property has been presented as Properties Intended for Sale following the Company entering into a Sale Agreement, on 7 June 2007, with settlement after Balance Date. Basis of Valuation Investment Property is stated at fair value. Fair value was determined as at 30 June 2007 being the market value of the lessor’s interests as at 30 June 2007, and is valued annually. Valuation was completed by Ian McKeage, independent Registered Valuer, FNZIV, FPINZ of TelferYoung. N O T E 6 : E Q U I T Y (a) Share Capital 2007 2006 $000 $000 Opening Balance 31,046 31,046 Redeemed During the Year (25,000) - B A L A N C E A T 3 0 J U N E 6,046 31,046 At 30 June 2007 the company has 25,415,404 ordinary shares. (2006 31,046,035). During the 2007 financial year the company purchased and cancelled 5,630,631 shares. All shares are fully paid and have no par value. All shares carry equal voting rights and the right to share in any surplus on winding up of the company. None of the shares carry fixed dividend rights. (b) Retained Earnings 2007 2006 $000 $000 Retained Earnings 29,035 26,749 Net Surplus 6,725 7,587 Dividends Paid (1,000) (2,600) Transfer to Dividend Payable (2,900) (2,700) R E T A I N E D E A R N I N G S A T 3 0 J U N E 31,860 29,035 3 0
N O T E S T O T H E A C C O U N T S (c) Asset Revaluation Reserve (Land) 2007 2006 $000 $000 Opening Balance 61,853 61,853 Revaluation Movement 2,638 - C L O S I N G B A L A N C E 64,491 61,853 (d) Asset Revaluation Reserve (Wharves) Opening Balance 4,495 4,495 Deferred Tax Movement 184 - C L O S I N G B A L A N C E 4,679 4,495 (e) Asset Revaluation Reserve (Buildings) Opening Balance 1,924 1,924 Deferred Tax Movement 225 - Revaluation Movement (484) - C L O S I N G B A L A N C E 1,665 1,924 (f) Asset Revaluation Summary Opening Balance 68,272 68,272 Deferred Tax Movement 409 - Revaluation Movement 2,154 - C L O S I N G B A L A N C E 70,835 68,272 (g) Proposed Dividend Reserve Opening Balance - 2,400 Dividend Paid - (2,400) C L O S I N G B A L A N C E - - (h) Hedging Reserve Opening Balance 52 (87) Fair Value Movement 1,212 165 Deferred Tax Movement (400) (26) C L O S I N G B A L A N C E 864 52 Revaluation Reserves The Revaluation Reserves relate to the revaluation of land, wharves, buildings and investment properties. Hedging Reserve The Hedging Reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments related to hedged transactions that have not yet occurred. N O T E 7 : C A S H A N D D E P O S I T S 2007 2006 $000 $000 General Account 269 585 Call Account 1,901 1,899 T O T A L 2,170 2,484 3 1
Page 1 and 2: 2 0 0 7 A N N U A L R E P O R T
Page 3 and 4: “During the Noise Variation proce
Page 5 and 6: P E R F O R M A N C E R E V I E W -
Page 7 and 8: “We work in a hectic environment
Page 9 and 10: Port Nelson’s support of the Nels
Page 11 and 12: “Watching the SZAP 5 descend bene
Page 13 and 14: “When the topic of Environmental
Page 15 and 16: “I’m proud to work for a compan
Page 17 and 18: F I N A N C I A L R E P O R T 2 0 0
Page 19 and 20: S T A T U T O R Y I N F O R M A T I
Page 21 and 22: S T A T E M E N T O F C O R P O R A
Page 23 and 24: S T A T E M E N T O F F I N A N C I
Page 25 and 26: S T A T E M E N T O F C A S H F L O
Page 27 and 28: S T A T E M E N T O F A C C O U N T
Page 29: N O T E S T O T H E A C C O U N T S
Page 33 and 34: N O T E S T O T H E A C C O U N T S
Page 43 and 44: Board of Directors A.O. Patterson C

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