Financial Statements Notes




2326 NEW ZEALAND GAZETTE No. 93

TOP ENERGY LIMITED

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 2000

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 2000, Top Energy Ltd paid $1,270,000 (31 March 1999: $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 2000, a balance of $58,276 (31 March 1999 $12,810) 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.

Note 2000 (Income)/ cost 1999 (Income)/ cost
Transfer Payment Cost to Line:
a Asset maintenance services 3,393,760
b Avoided transmission charges 564,000
c Property rental 38,004
Payment for meter data Nil
Consumer based load control Nil
d Disconnection/reconnection services Nil
Asset construction Nil
Subtransmission assets
Zone substations 1,004,462
Distribution lines & cable -
Medium voltage switchgear -
Distribution transformers -
Distribution substations 1,121,486
Low voltage lines & cables -
Other system fixed assets -


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Online Sources for this page:

VUW Te Waharoa PDF NZ Gazette 2000, No 93


Gazette.govt.nz PDF NZ Gazette 2000, No 93





✨ LLM interpretation of page content

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

🏗️ Infrastructure & Public Works
Financial Statements, Related Party Transactions, Dividend Payments, Asset Maintenance, Transfer Payments