July 2026 · live from Xero
Financials
ZK-HJW (Airbus H130) · prepared 10 August 2026 for Justin Wyborn
All figures NZD, GST exclusive, per the Xero management P&L
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Balance sheet extract
as at 31 March 2026 · from the published owner pack, not live Xero
Helicopter H130 (ZK-HJW) valuation
| NZD | EUR | |
|---|---|---|
| Purchase price | $5,764,988 | €3,394,000 |
| Depreciation (10% DV, 5 years) | ($2,360,820) | (€1,389,877) |
| Valuation movement | $10,191 | €6,000 |
| Unrealised FX movement | $687,933 | €0 |
| Current valuation | $4,102,292 | €2,010,123 |
EUR is the aircraft's carrying currency, so the $4,102,292 above moves for two unrelated reasons: how much the airframe has actually been written down, and how the euro has moved against the dollar since purchase. Strip the $687,933 FX line back out and the aircraft is worth $3,414,359 — a 41% fall from the $5,764,988 purchase price, which is the real depreciation story after five years' use. The headline figure sits higher than that only because the euro has strengthened against the dollar since purchase — one euro bought about $1.70 NZD then and buys about $2.04 NZD today — so the same written-down euro asset now translates to more dollars, even though it is worth fewer of them. Cost itself is written down at Inland Revenue's 10% diminishing-value rate for helicopters (IR265, 20-year life) over 5 years held — a tax rate, not a market valuation, and one a used H130 has historically outrun.
BNZ borrowings
| NZD | |
|---|---|
| BNZ Euro loan | $2,088,011 |
| BNZ NZD loan | $500,000 |
| BNZ overdraft (current account) | $526,662 |
| Total BNZ borrowings | $3,114,673 |
Euro loan is euro-denominated, shown at its NZD equivalent on the balance sheet. The overdraft is a current-account facility, not a term loan; the two term loans total $2,588,011.