New Zealand Gazette – 1999 – No. 169

Page 4024

✨ Financial Statements Notes

4024
NEW ZEALAND GAZETTE
No. 169

Line Services: the electricity retail business used the lines of the lines business to convey electricity to its customers. This service was provided at nil cost to the retail business.

Computer Services: the electricity lines business provided computer services to the retail business. This service was provided at nil cost to the retail business.

14.3 Contracting

The Contracting Business Unit of Eastland Network Limited (formerly Eastland Energy Limited) is a related party under the provisions of the Electricity Information Disclosure Regulations 1999 and has provided services on an ‘arms length’ basis to the Lines Business during the period. The following services were provided at either the relevant charge rate, or quoted price, or competitive tender price:

Construction of subtransmission assets 1999 1998
$000 $000
Construction of zone substations 0 -
Construction of distribution lines & cables 217 -
Construction of medium voltage switchgear 239 -
Construction of distribution transformers 53 -
Construction of distribution substations 106 -
Construction of low voltage reticulation 0 -
Construction of other system fixed assets 6 -
Maintenance of assets 1,534 -
Consumer connections & disconnections 16 -
Other services 0 -

As at 31 March 1999 there were no outstanding balances for related parties (1998 – Nil).
No related party debt has been written off or forgiven during 1998 or 1999.

RECONCILIATION OF OPERATING SURPLUS AFTER TAXATION WITH CASH INFLOW FROM OPERATING ACTIVITIES

Reported operating surplus after taxation 2,693 2,443
Add/(Less) Non-cash items:
Depreciation 1,196
Loss on disposal of assets (156)
Reallocation of Equity 5
59
1,104

Movements in Working Capital:
Decrease/(Increase) in Receivables 63
Decrease/(Increase) in Income tax receivable 167
Decrease/(Increase) in Inventory 541
Increase/(Decrease) in Accounts Payable (550)
Increase/(Decrease) in Income Tax payable 506
Increase/(Decrease) in Provisions (331)
396

Net Cash Flow from Operations 4,193

COMMITMENTS

(i) Capital Commitments:
Estimated capital expenditure
contracted for at balance date
but not provided for 55 174

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VUW Te Waharoa — NZ Gazette 1999, No 169

NZLII — NZ Gazette 1999, No 169

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

💰 Notes to Financial Statements of Eastland Network Limited (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Liabilities, Provisions, Reserves, Retained Earnings, Related Parties, Eastland Network Limited, Eastland Energy Community Trust

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