✨ 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 —
NZ Gazette 2000, No 93
Gazette.govt.nz —
NZ Gazette 2000, No 93
✨ LLM interpretation of page content
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Notes to the Special Purpose Financial Statements of Top Energy Limited
(continued from previous page)
🏗️ Infrastructure & Public WorksFinancial Statements, Related Party Transactions, Dividend Payments, Asset Maintenance, Transfer Payments