✨ Financial Statements
2870 NEW ZEALAND GAZETTE No. 106
2. Commitments and Contingent Liabilities
There were capital commitments at 31 March 2002 of $298,120 (2001 $103,046). The Lines Business has no contingent liabilities at the end of the period (2001 Nil).
3. Related Party Transactions
Associated Entity: Networks South Limited
Networks South Limited is 50% owned by Network Waitaki Limited and provided administrative, engineering and planning functions for the network from 1 April 2001 to 31 March 2002. These services are charged on a fixed contract basis.
During the period, this charge totalled $712,501. The outstanding amount as at 31 March 2002 was $235 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 Disclosure 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 April 2001 to 31 March 2002. Services were charged on both a fixed price basis or “time and materials” basis.
During the period, this charge totalled $1,434,621. The outstanding amount as at 31 March 2002 was $266,903 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:
| Year to 31/3/2002 | 9 Months to 31/3/2001 | |
|---|---|---|
| Subtransmission assets | $10,901 | $10,368 |
| Zone substations | $49,300 | $67,956 |
| Distribution lines | $310,861 | $307,989 |
| Medium voltage switchgear | $96,735 | $137,834 |
| Distribution transformers | $7,554 | $0 |
| Distribution substations | $49,842 | $38,934 |
| Low voltage lines | $149,041 | $41,486 |
| Other System Fixed Assets | $75,152 | $64,893 |
Other transactions totalled:
| Year to 31/3/2002 | 9 Months to 31/3/2001 | |
|---|---|---|
| Maintenance of System Fixed Assets | $685,205 | $316,256 |
| Cost of customer connections | $0 | $0 |
| and disconnections |
Internal Division: Network Waitaki Contracting (for prior year comparison only)
Network Waitaki Limited operated an internal contracting division that provided asset maintenance and construction services for the period to 30 June 2000 and it was dissolved on this date. Services were charged on both a fixed price basis or “time and materials” basis.
During the period capital construction transactions totalled the following:
| 3 Months to 30/6/2000 | |
|---|---|
| Subtransmission assets | $0 |
| Zone substations | $7,285 |
| Distribution lines | $204,259 |
| Medium voltage switchgear | $0 |
| Distribution transformers | $68,085 |
| Distribution substations | $3,884 |
| Low voltage lines | $5,411 |
| Other System Fixed Assets | $27,125 |
| Maintenance of System Fixed Assets | $164,287 |
| Cost of customer connections | $0 |
| and disconnections | |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 106
Gazette.govt.nz —
NZ Gazette 2002, No 106
✨ LLM interpretation of page content
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Financial Statements for Network Waitaki Limited
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🏭 Trade, Customs & IndustryFinancial Statements, Commitments, Contingent Liabilities, Related Party Transactions, Associated Entities, Capital Commitments, Administrative Services, Engineering Services, Planning Functions, Asset Maintenance, Construction Services