New Zealand Gazette – 2000 – No. 97

Page 2429

✨ Financial Statements

21 AUGUST NEW ZEALAND GAZETTE 2429

HORIZON ENERGY DISTRIBUTION LIMITED

Financial Statements for the purposes of the Electricity (Information Disclosure) Regulations 1999 and the Electricity (Information Disclosure) Amendment Regulations 2000

NOTES TO THE FINANCIAL STATEMENTS

	Lines Business 2000 $'000	Lines Business 1999 $'000

14 OPERATING LEASES

Operating lease commitments fall due for repayment in the following periods:


Within One Year	100	15
Within One to Two Years	-	-
Within Two to Five Years	-	-
Total	100	15

15 REMUNERATION OF AUDITORS

Amounts received, or due and receivable, by the principal auditors for:

| Auditing the Financial Statements: | |
|---------------------------------------|---------------|---------------|
| PricewaterhouseCoopers | 41 | 45 |

| Other Services: | |
|---------------------------------------|---------------|---------------|
| PricewaterhouseCoopers | 278 | 48 |

| Total Payments to Auditors | 319 | 93 |

16 RELATED PARTY TRANSACTIONS

The Company conducts business predominantly in the Eastern Bay of Plenty and undertakes transactions with shareholders, company officers and other related parties that reside in the region. All transactions with related parties have been carried out on a commercial and "arms length" basis.

Mercury Energy Limited held a 33% interest (until 7 October 1998) in UnitedNetworks Limited which was the parent company for Horizon Energy Distribution Limited until 21 December 1999 when UnitedNetworks Limited sold their shareholding to the BOPE Consumer Trust.

Transactions


Purchases from UnitedNetworks Limited	39	336
Sales to UnitedNetworks Limited	-	357
Purchases from Mercury Energy Limited	-	67
Sales to Mercury Energy Limited	-	15
Sales to BOPE Consumer Trust	67	-
Transfer payment to "Other" for interest	802	-
Transfer of Fixed Assets to "Other" at NBV	1,069	-

Balance


Amounts owed to UnitedNetworks Limited	-	5
Amounts owed by "Other" for re-allocations to and from "Other"	2,516	-
Amounts owed by BOPE Consumer Trust	67	-

*Note: Total transfer payments to "Other" business

Interest has been paid to "Other" for loans provided prior to returning share capital to shareholders'.
Transfer of Fixed Assets - two buildings were deemed surplus to the requirements of the lines business and were transferred to "Other" at Book Value and subsequently disposed of.*

VUW Te Waharoa — NZ Gazette 2000, No 97

Gazette.govt.nz — NZ Gazette 2000, No 97

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

🏭 Financial Statements for Horizon Energy Distribution Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Financial Performance, Operating Leases, Auditors, Related Party Transactions

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