New Zealand Gazette – 2000 – No. 93

Page 2327

✨ Financial Statements Notes



18 AUGUST NEW ZEALAND GAZETTE 2327

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

a. Asset maintenance services are provided by the Contracting Division in respect of the System fixed asset. Services are provided as contracted by the Line business and are charged on a full cost recovery basis. Services were provided throughout the year. The outstanding balance at 31 March 2000 was $282,813.

b. Avoided Transmission charges are paid in respect of embedded generation provided by Ngawha Construction Limited (NCL). Charges are based on the Transpower market rate. The service was provided for the full year (1999: from 1 July 1998 to 31 March 1999). The outstanding balance at 31 March 2000 was $47,000 (1999: $475,875).

c. Property facilities are provided to the Line business by the Property Division. Rentals are at market rates for the specific sites. Services were provided throughout the year. The property rental includes cost recovery in respect of rates of $10,942. The outstanding balance at 31 March 2000 was $3,167.

d. Asset construction services are provided by the Contracting Division in respect of the System fixed asset. Services are provided as contracted by the Line business and are charged on a full cost recovery basis. Services were provided throughout the year. The outstanding balance at 31 March 2000 was $177,020.

15 FINANCIAL INSTRUMENTS

a. Currency and Interest Rate Risk

Nature of activities and management policies with respect to financial instruments:

i. Currency

The Group has undertaken foreign currency transactions from time to time in connection with its activities. To manage the foreign currency risk the Group has used forward exchange contracts. There are no contracts in place at 31 March 2000.



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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, Asset Maintenance, Transmission Charges, Property Facilities, Asset Construction, Financial Instruments, Currency Risk, Interest Rate Risk