✨ Financial Disclosure by Horowhenua Energy Limited
NEW ZEALAND GAZETTE
No. 107
Horowhenua Energy Limited Line Business – Disclosure 1999
14. Commitments
Capital commitments
At balance date, there was $657,175 unaccrued expenditure contracted for and approved by the Company (1998 - Nil).
Operating lease commitments
Lease commitment under non-cancellable operating leases
| 1999 | 1998 | |
|---|---|---|
| $000 | $000 | |
| Not later than one year | 161 | 136 |
| Later than one year and not later than two years | 87 | 136 |
| Later than two years and not later than five years | - | 87 |
| $248 | $359 |
15. Transactions with related parties
During the year the Company purchased construction and maintenance services from its subsidiary, Linework Limited, to an amount of $3.03 million (1998 - $4.55 million).
During the year, and in the normal course of business, Horowhenua Energy Limited group engaged in services from Kerslake and Partners, a firm where director Mr W R Thessman is a partner; and goods from Pre-Cast Components Ltd, a company in which director Mr P A T Hamid is a director. These purchases account for 0.06% (1998 - 0.16%) of total group purchases. The amount outstanding at year end was $1,096 (1998 - $3,200) which is payable on normal trading terms.
No related party debts have been written off or forgiven during the year.
16. Post balance date event
Subsequent to year end Directors approved the repayment of $12 million in capital to Horowhenua Energy Trust and recommended that this should be distributed to beneficiaries of the Trust. Trustees have sought beneficiaries confirmation of the method of distribution through a postal ballot.
Next Page →
PDF embedding disabled (Crown copyright)
View this page online at:
VUW Te Waharoa —
NZ Gazette 1999, No 107
NZLII —
NZ Gazette 1999, No 107
✨ LLM interpretation of page content
🏭
Financial and Performance Disclosure by Horowhenua Energy Limited
(continued from previous page)
🏭 Trade, Customs & IndustryElectricity, Financial Disclosure, Performance Measures, Horowhenua Energy Limited, Interest Rate Risk, Fair Values, Reconciliation, Contingent Liabilities
- W R Thessman (Mr), Director of Horowhenua Energy Limited
- P A T Hamid (Mr), Director of Horowhenua Energy Limited