✨ Financial Statements
9 AUGUST
NEW ZEALAND GAZETTE
2183
WAIPA POWER LIMITED - LINE BUSINESS
13 RELATED PARTIES
At balance date, the Waipa Power Trust held 100 per cent of the shares in Waipa Power Limited
All related party transactions in the accounts of Waipa Power Limited have been conducted on a commercial and arms length basis.
The contracting department of Waipa Power Ltd has provided the following services at cost, including overheads, for the period 1 April 1998 to 31 March 1999
| Description | Amount |
|---|---|
| Construction of distribution lines & cables | 230,931 |
| Construction of medium voltage switchgear | 740 |
| Construction of distribution transformers | 265,085 |
| Construction of distribution substations | 7,316 |
| Construction of low voltage lines and cables | 153,953 |
| Construction of other system fixed assets | 82,561 |
| Maintenance of assets | 756,715 |
| Consumer connections and reconnections | 33,986 |
| Other services | 31,473 |
| Sale of Assets to Other at Book Value | 2,171,195 |
| Distribution of cash to Other | 1,000,000 |
At year end there were no outstanding balances for related parties (1998 Nil).
No related party debt has been written off or forgiven during 1999 or 1998.
Provision has been made in the accounts for payment of a final dividend to the Waipa Power Trust of $1,466,498 (1998 $590,764). Interim dividends totalling $460,000 have already been paid (1998 $661,917).
1999
$
14 RECONCILIATION OF NET SURPLUS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Description | Amount |
|---|---|
| Reported Net Surplus after tax | 3,001,433 |
| Add (Less) Non Cash Items: | |
| Depreciation | 149,658 |
| 3,151,091 | |
| Add (Less) Movements in Working Capital Items | |
| Increase in Tax Receivable | (170,470) |
| Increase in Receivables | (506,948) |
| Decrease (Increase) in Inventories | 15,533 |
| Decrease in Accounts Payable | (1,471,058) |
| Decrease in Leave Provisions | (41,527) |
| (2,174,470) | |
| 976,621 |
| Add (Less) Items Classified as Investing Activities | |
| Net Gain on Disposal of Assets | (9,178) |
| Disposal Expenses for Properties held for resale| 14,005 |
| Capital Contributions | (229,257) |
| | (224,430) |
Net Cash Inflows from Operating Activities | 752,191 |
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VUW Te Waharoa —
NZ Gazette 1999, No 92
NZLII —
NZ Gazette 1999, No 92
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Notes to Financial Statements for Waipa Power Limited
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