β¨ 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 —
NZ Gazette 2001, No 112
Gazette.govt.nz —
NZ Gazette 2001, No 112
β¨ LLM interpretation of page content
π° Capital Commitments
π° Finance & RevenueFinancial, Capital Commitments, Expenditure
π° Operating Lease Commitments
π° Finance & RevenueFinancial, Operating Lease Commitments, Non-cancellable Leases
π° Transactions with Related Parties
π° Finance & RevenueFinancial, Related Party Transactions, Construction, Maintenance
- Mr W R Thessman, Director