New Zealand Gazette – 1992 – No. 205

Page 4593

✨ Financial Statements Supplement



18 DECEMBER NEW ZEALAND GAZETTE 4593

TELECOM WELLINGTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

(CONTINUED)

15 RELATED PARTY TRANSACTIONS

RELATIONSHIP WITH PARENT AND FELLOW SUBSIDIARY COMPANIES

During the period the Company derived revenue (approximately 8.5%) from access fees, maintenance services and asset construction services provided to fellow subsidiaries. The Company also utilised network capacity and related services and group management services provided by fellow subsidiaries. Additionally, certain inventory and network assets were procured from and serviced by fellow subsidiaries. Such expenses represented approximately 27.3% of total operating expenses.

Outstanding intercompany balances as at 30 September 1992 are:

  • Intercompany receivable $1.9 million
  • Intercompany payable and current account $13.8 million
  • Intercompany term liabilities $361.0 million

With the exception of the current account and the term liability to parent company, the balances are payable on normal trading terms. The current account is on call and the term liability to parent company has no fixed date for repayment. No related party debts have been written off or forgiven during the year.



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✨ LLM interpretation of page content

💰 Telecom Wellington Limited Financial Statements (continued from previous page)

💰 Finance & Revenue
Related Party Transactions, Intercompany Balances, Revenue, Expenses, Parent Company, Subsidiaries