2017 WEL Networks
|
Annual Report
30
Notes
2017
$’000
2016
$’000
Assets
Current assets
Cash and cash equivalents
5,612
4,049
Trade and other receivables
7
19,864
24,029
Current tax receivables
6
2,513
540
Construction work in progress
9
-
32,062
Total current assets
27,989
60,680
Non-current assets
Property, plant and equipment
8
987,772
578,068
Intangible assets
10
76,255
12,583
Investment in associate
-
134,455
Derivative financial instruments
23
892
-
Total non-current assets
1,064,919
725,106
Total assets
1,092,908
785,786
Liabilities
Current liabilities
Trade and other payables
11
10,787
37,378
Loan from non-controlling interest
19
63,336
30,455
Provisions
12
3,811
2,282
Deferred income
8,952
-
Customer discount payable
17,391
18,836
Total current liabilities
104,277
88,951
Non-current liabilities
Borrowings
14
381,707
199,859
Provisions
13
481
567
Deferred income
974
1,167
Derivative financial instruments
23
5,457
7,972
Deferred tax liabilities
15
82,715
75,280
Total non-current liabilities
471,334
284,845
Total liabilities
575,611
373,796
Net assets
517,297
411,990
EQUITY
Contributed equity
16
150,142
150,142
Reserves
17
153,250
152,256
Retained earnings
17
205,121
112,928
508,513
415,326
Non-controlling interest
8,784
(3,336)
Total equity
517,297
411,990
WEL NETWORKS LIMITED
Balance sheet
As at 31 March 2017
The above balance sheet should be read in conjunction with the accompanying notes.
Margaret Devlin
Chairman
25 May 2017
For and on behalf of the Board:
Paul McGilvary
Director
25 May 2017
