43
2004
2003
$000's
$000's
NOTE 5: INVENTORIES AND
WORK-IN-PROGRESS
Contract work-in-progress
1,174
584
Other supplies
517
471
Total inventories and work-in-progress 1,691 1,055
Inventories are included as security against debenture
held by BNZ over the assets of the company. No
inventories are subject to retention of title clauses
NOTE 6: FIXED ASSETS
Plant, equipment and vehicles
At cost
20,645 16,864
Accumulated depreciation
(9,777) (8,201)
Net book value
10,868 8,663
Leased vehicles
At cost
1,148
839
Accumulated depreciation
(218)
-
Net book value
930
839
Administration furniture and equipment
At cost
2,319 1,848
Accumulated depreciation
(1,050)
(688)
Net book value
1,269
1,160
Total fixed assets
At cost
24,112 19,551
Accumulated depreciation
(11,045) (8,889)
Net book value
13,067 10,662
Fixed assets are included as security against debenture
held by BNZ over assets of the company.
The directors consider that the carrying amount of fixed
assets to be the fair value of the assets.
NOTE 7: INTANGIBLE ASSETS
At cost
78
78
Accumulated amortisation
(78)
(50)
Net book value
-
28
The directors consider that the carrying amount of
intangible assets to be the fair value of the assets.
2004
2003
$000's
$000's
NOTE 8: EMPLOYEE ENTITLEMENTS
Accrued pay
569
610
Annual leave
1,833 1,533
Long service leave
411
424
Total employee entitlements
2,813 2,567
Made up of:
Current
2,511 2,271
Non current
302
296
2,813 2,567
NOTE 9: ACCOUNTS PAYABLE AND ACCRUALS
Trade creditors and accruals
3,448 2,226
Accrued expenses
1,051
784
Total accounts payable and accruals 4,499 3,010
NOTE 10: BANK OVERDRAFT
-
26
The bank overdraft is secured by way of debenture
over the assets of the Company. The overdraft facility
available is $500,000.
The current interest rate on the company's bank
overdraft is 9.35% (2003: 8.95%)
NOTE 11: BANK LOAN
Current
400
-
One to two years
5,100 3,100
Two to five years
1,200
-
Total Bank Loan
6,700 3,100
The bank loan is secured by way of debenture over
the assets of the Company. The facility available is
$7,500,000.
The current interest rate on the company's bank loan is
between 6.35% and 6.97% (2003: 6.35%)
