New Zealand Gazette – 2001 – No. 87

Page 2241

✨ Financial Statements

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 2001 $000	Lines Business 2000 $000

14 OPERATING LEASES

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

	31	100
Within One Year
Within One to Two Years	-	-
Within Two to Five Years	31	100

15 REMUNERATION OF AUDITORS

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

Auditing the Financial Statements:

PricewaterhouseCoopers

| | 41 | 41 |

Other Services:

PricewaterhouseCoopers

| | 126 | 278 |

Total Payments to Auditors

| | 167 | 319 |

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.

UnitedNetworks Limited was the parent company for Horizon Energy Distribution Limited until 21 December 1999 when UnitedNetworks Limited sold their shareholding to the BOPE Consumer Trust (renamed Eastern Bay Energy Trust in October 2000).

Transactions

Transactions
Purchases from UnitedNetworks Limited	-	39
Sales to Eastern Bay Energy Trust	56	67
Transfer payment to “Other” for interest	-	802
Transfer of Fixed Assets to “Other” at NBV	-	1,069

Balance

Balance
Amounts owed by “Other” for re-allocations to and from “Other”	510	2,516
Amounts owed by Eastern Bay Energy Trust	56	67

Note: Total transfer payments to “Other” business

Interest has been paid to “Other” (2000) 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 2001, No 87

Gazette.govt.nz — NZ Gazette 2001, No 87

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✨ LLM interpretation of page content

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

Domain🏗️ Infrastructure & Public Works
KeywordsElectricity, Financial Statements, Operating Leases, Remuneration of Auditors, Related Party Transactions, Horizon Energy Distribution Limited

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