New Zealand Gazette – 2001 – No. 98

Page 2560

✨ Financial Statements



TOP ENERGY LIMITED

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 2001

14 RELATED PARTY TRANSACTIONS

There have been no material related party transactions requiring disclosure in accordance with SSAP 22 "Related Party Disclosures", apart from the following:

i. Bay of Islands Electric Power Trust:

Top Energy Ltd is wholly owned by Bay of Islands Electric Power Trust. For the period ended 31 March 2001, Top Energy Ltd paid $3.8m (31 March 2000: $1.27m) in the form of a dividend to the above Trust. This payment is reflected in the Statement of movements in Equity of Top Energy Ltd.

During the period Top Energy processed transactions on an agency basis on behalf of the Trust in order to settle routine business dealings. As at 31 March 2001, a balance of $486 (31 March 2000 $58,276) owing by the Trust to the Company has been included in accounts receivable in the statement of financial position. All transactions with the Trust were made on normal business terms.

ii. Transfer Payments between Line & ‘Other’ business:

The following related party transactions occurred in the year between the Line & Other businesses.

Note 2001 (Income)/cost 2000 (Income)/cost
Transfer Payment Cost to Line:
a Asset maintenance services 1,944,168 1,417,760
b Avoided transmission charges 648,000 564,000
c Property rental 51,000 38,004
Payment for meter data Nil Nil
Consumer based load control Nil Nil
Disconnection/reconnection services Nil Nil
d Asset construction Nil Nil
Subtransmission assets 34,630 34,415
Distribution lines & cable 1,794,205 2,463,760
Medium voltage switchgear 78,705 59,026
Distribution transformers - -
Distribution substations 1,657,761 1,543,747
Low voltage lines & cables
Other system fixed assets


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2001, No 98


Gazette.govt.nz — PDF NZ Gazette 2001, No 98




✨ LLM interpretation of page content

🏭 Notes to the Special Purpose Financial Statements for Top Energy Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Related Party Transactions, Dividends, Asset Maintenance, Transfer Payments