New Zealand Gazette – 2001 – No. 93

Page 2398

✨ Financial Statements and Related Party Transactions



Alpine Energy Limited (Lines)

Financial Statements Prepared in Accordance with the Electricity (Information Disclosure) Regulations

Notes to and Forming Part of the Financial Statements - Continued

for the Year Ending 31 March 2001

7. Reconciliation Of Operating Surplus With Cash Flows From Operating Activities

2001
$'000
Operating Surplus After Income Tax 6,164
Add/ (Deduct) Non Cash Items
Depreciation 2,908
9,072

| Add/ (Deduct) Movements in Working Capital |
| (Increase)/Decrease in Debtors | (759) |
| (Increase)/Decrease in Deferred Tax | (620) |
| Increase/(Decrease) in Creditors | 86 |
| Increase/(Decrease) in Provision for Tax | (209) |
| |(1,500)|
| | 7,572 |

2000
$'000
Operating Surplus After Income Tax 4,727
Add/ (Deduct) Non Cash Items
Depreciation 2,790
7,517

| Add/ (Deduct) Movements in Working Capital |
| (Increase)/Decrease in Debtors | 3,457 |
| (Increase)/Decrease in Deferred Tax | (230) |
| Increase/(Decrease) in Creditors | 286 |
| Increase/(Decrease) in Provision for Tax | 374 |
| | 3,887 |
| |11,404 |

8. Related Party Transactions

Associated Entity: Networks South Limited

Networks South Limited is 50% owned by Alpine Energy Limited and provided administrative, engineering and planning functions for the network from 1 July 2000 to 31 March 2001. These services are charged on a fixed contract basis.

During the period, this charge totalled $1,326,000. The outstanding amount as at 31 March 2001 was $68,857 payable on normal commercial terms.

No debts were written off or forgiven and no transactions took place at nil or nominal value.
Transactions do not relate to the categories specified in the Regulations.

Associated Entity: NetCon Limited

NetCon is wholly owned by Networks South Limited and provided asset maintenance and construction services for the network from 1 July 2000 to 31 March 2001. Services were charged on both a fixed price basis or “time and materials” basis.

During the period, this charge totalled $2,379,668. The outstanding amount as at 31 March 2001 was $698,599 payable on normal commercial terms.

No debts were written off or forgiven and no transactions took place at nil or nominal value.

During the period capital construction transactions totalled the following:

2001
$'000
Subtransmission assets 0
Zone substations 16
Distribution lines 474
Medium voltage switchgear 7
Distribution transformers 0
Distribution substations 0
Low voltage lines 508
Other System Fixed Assets (as per the ODV Handbook) 0
Maintenance of System Fixed Assets 1,374
Cost of customer connections and disconnections 0


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 93


Gazette.govt.nz — PDF NZ Gazette 2001, No 93




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🏭 Alpine Energy Limited Financial Statements (continued from previous page)

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