New Zealand Gazette – 1999 – No. 116

Page 2790

✨ Financial Statements Notes



2790 NEW ZEALAND GAZETTE No. 116

TOP ENERGY LIMITED

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 1999

14 RELATED PARTY TRANSACTIONS
There have been no material related party transactions requiring disclosure in accordance with SSAP 22 “Related Party Disclosures”, apart from the following:

i.  **Bay of Islands Electric Power Trust:**
    Top Energy Ltd is wholly owned by Bay of Islands Electric Power Trust. For the period ended 31 March 1999, Top Energy Ltd paid $45,000 (31 March 1998: $45,000) in the form of a dividend to the above Trust. This payment is reflected in the Statement of Financial Performance of Top Energy Ltd.

    During the period Top Energy processed transactions on an agency basis on behalf of the Trust in order to settle routine business dealings. As at 31 March 1999, a balance of $12,810 (31March 1998 : $2,503) owing by the Trust to the Company has been included in accounts receivable in the statement of financial position. All transactions with the Trust were made on normal business terms.

ii. **Transfer Payments between Line & ‘Other’ business:**
    The following related party transactions occurred in the year between the Line & Other businesses.

    **Transfer Payment Revenue to Line:**
    Line revenue invoiced to final consumer
    Line revenue invoiced to retailer
    Line revenue for goods & services provided to ‘other’.

    **Transfer Payment Cost to Line:**
    Asset maintenance services
    Avoided transmission charges
    Property rental
    Payment for meter data
    Consumer based load control
    Disconnection/reconnection services
    Asset construction
    Subtransmission assets
    Zone substations
    Distribution lines & cable
    Medium voltage switchgear
    Distribution transformers
    Distribution substations
    Low voltage lines &cables
    Other system fixed assets

    | NOTE | (Income)/ cost |
    |------|--------------|
    | a    | (8,331,365)  |
    | b    | (4,503,817)  |
    |      | nil          |
    | c    | 3,402,408    |
    | d    | 423,000      |
    | e    | 38,004       |
    |      | nil          |
    |      | nil          |
    | f    | 54,046       |
    |      | -            |
    |      | 1,214,970    |
    |      | -            |
    |      | -            |
    |      | 1,067,116    |
    |      | -            |


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✨ LLM interpretation of page content

🏭 Notes to the Special Purpose Financial Statements for Top Energy Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Related Party Transactions, Dividends, Accounts Receivable, Transfer Payments