New Zealand Gazette – 2001 – No. 129

Page 3313

✨ Financial Statements Notes



21 SEPTEMBER

NEW ZEALAND GAZETTE

3313

NOTES TO THE FINANCIAL STATEMENTS

2001 2000
$000 $000

Note 10: Wind Generation Project
SCANPOWER Limited has a 10% interest in The Wind Farm Company which holds a resource management
consent to erect and operate wind turbines near Woodville.

Note 11: Environmental Policy
SCANPOWER endeavours to adhere to a sustainable use policy with a minimum of environmental disturbance
and desecration. To date, SCANPOWER is unaware of any of its projects or operations that would not meet the
above policy nor any environmental regulations currently in existence in New Zealand.

Note 12: Capital Commitments and Contingent Liabilities
As at 31 March 2001, the company had no contingent liabilities (2000 also Nil).

SCANPOWER has not entered into any contracts to purchase or install equipment of a capital nature (2000-Nil)

Note 13: Related Party Information
Directors' transactions with the company were made under normal terms and conditions of supply and sale
available to members of staff. No discounts were given during the year.

Contestable contracting services in asset construction and maintenance were provided by SCANPOWER's
contracting division at cost, including overheads, and as detailed, respectively, here and in Note 16.12b below.
Subtransmission assets 0 0
Zone substations 0 0
Distribution lines and cables 0 0
Medium voltage switchgear 0 0
Distribution transformers 0 0
Distribution substations 0 0
Low voltage lines and cables 86 165
Other system fixed assets 0 0

An imputed rental of $16,436 is included in Note 16.12b (vii) as being paid to the "Other" business.

As at 31 March 2001, there were no outstanding balances for related parties other than those disclosed (2000
also Nil).

All transactions with other related parties are also made under normal terms and conditions of supply and sale.
No related party debts were forgiven or written off during the year.

Note 14: Financial Instruments
SCANPOWER has no off balance sheet financing (other than those disclosed in these notes), nor any foreign
exchange exposure. All instruments are carried at fair value and take into account the company's maximum
exposure to credit risk.

Concentrations of credit risk with respect to receivables are managed by adequate safeguards in the Use of
Systems agreements entered into with energy retailers.

The interest rates on the company's deposits are presented in note 6.

Note 15: Significant Events after Balance Date
The company is not aware of any post balance date events which would have a significant effect on the business
activities of SCANPOWER.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 129


Gazette.govt.nz — PDF NZ Gazette 2001, No 129




✨ LLM interpretation of page content

🏭 Scanpower Limited Financial Statements for Lines Business (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Wind Generation, Environmental Policy, Capital Commitments, Related Party Transactions, Financial Instruments, Post-Balance Events