New Zealand Gazette – 1995 – No. 112

Page 3541

✨ Financial Statements Notes

9 OCTOBER NEW ZEALAND GAZETTE 3541

MERCURY ENERGY LIMITED AND SUBSIDIARIES

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1995 continued

Total Activities
$000

15. CONTINGENT LIABILITIES

Performance Bonds 57

The amount payable to the Electricity Corporation of New Zealand for bulk electricity since 1 April 1993 is subject to litigation. Prudent provision has been made to cover the amount claimed.

16. TRANSACTIONS WITH RELATED PARTIES

During the year Mercury Energy Limited had the following transactions with the Auckland Energy Consumer Trust, which is the majority shareholder of Mercury Energy Limited:

Repayment of advance $12,400 million.
Payment of dividends $10.609 million.

No related party debts have been written off or forgiven during the year.

17. SEGMENT INFORMATION

The company operates in the electricity supply business. All operations are carried out within New Zealand.

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✨ LLM interpretation of page content

🏭 Notes to Financial Statements of Mercury Energy Limited and Subsidiaries (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial statements, Contingent liabilities, Performance bonds, Litigation, Related party transactions, Segment information

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