✨ Financial Commitments and Transactions




2908

NEW ZEALAND GAZETTE

No. 112

14. Commitments

Capital commitments

At balance date, there was $73,750 expenditure contracted for and approved by the company (2000 - $11,956).

Operating lease commitments

Lease commitment under non-cancellable operating leases

2001 2000
$000 $000
-------- --------
18 87
-------- --------
$18 $87

15. Transactions with related parties

During the year the Company purchased construction and maintenance services from it's wholly owned subsidiary, Linework Limited, to an amount of $3.3 million (2000 - $2.65 million). The amount owed to Linework at year end is $396,711 (2000 - $459,156).

2001 2000
$000 $000
-------- --------
(a.) Construction of subtransmission assets 4
(b.) Construction of zone substations -
(c.) Construction of distribution lines and cables 239
(d.) Construction of medium voltage switchgear 133
(e.) Construction of distribution transformers 25
(f.) Construction of distribution substations -
(g.) Construction of low voltage reticulation -
(h.) Construction of other system fixed assets 46
(i.) Maintenance of assets 2,825
(j.) Consumer connections and disconnections -

During the year, and in the normal course of business, Horowhenua Energy Limited engaged services from Kerslake and Partners, a firm where director Mr W R Thessman is a partner. These purchases account for 0.19% (2000 - 0.27%) of total purchases. The amount outstanding at year end was $11,503 (2000 - $0).

No related party debts have been written off or forgiven during this, or last year.



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Online Sources for this page:

VUW Te Waharoa PDF NZ Gazette 2001, No 112


Gazette.govt.nz PDF NZ Gazette 2001, No 112





✨ LLM interpretation of page content

πŸ’° Capital Commitments

πŸ’° Finance & Revenue
Financial, Capital Commitments, Expenditure

πŸ’° Operating Lease Commitments

πŸ’° Finance & Revenue
Financial, Operating Lease Commitments, Non-cancellable Leases

πŸ’° Transactions with Related Parties

πŸ’° Finance & Revenue
Financial, Related Party Transactions, Construction, Maintenance
  • Mr W R Thessman, Director