New Zealand Gazette – 2002 – No. 113

Page 3008

✨ 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, 2001

NOTES TO THE FINANCIAL STATEMENTS

	Lines Business 2002 $000	Lines Business 2001 $000
11 TERM LOANS

Term loans fall due for repayment in the following periods:
| Within One Year | - | - |
| Within One to Two Years | 31,100 | 34,000 |
| Within Two to Three Years | - | - |
| Within Three to Four Years | - | - |
| Within Four to Five Years | - | - |
| Balance as at 31 March | 31,100 | 34,000 |

Disclosed in Balance Sheet as:
| Current Portion of Term Loans | - | - |
| Term Loans | 31,100 | 34,000 |
| Balance as at 31 March | 31,100 | 34,000 |

All term loans are unsecured and are subject to negative pledge undertakings. The weighted average interest rate on term loans is 6.76% (2001 7.36%). The Company currently has $40 million rolling loan facilities, confirmed at this level until 31 October 2003.

12 DIVIDENDS

| Dividend Paid & Declared @ 55.0 cents (85.0 cents in 2001) | 2,749 | 4,249 |
| Less Interim Dividend Paid @ 55.0 cents | (2,749) | (2,000) |
| Balance as at 31 March | - | 2,249|

Dividends (Cents Per Share):
| | 55.0 | 85.0 |

No provision has been made for a final dividend. This is in accordance with the revised Financial Reporting Standard No.5, Events after Balance Date.

13 IMPUTATION CREDIT ACCOUNT

	Group 2002	Group 2001
Opening Balance	893	42
Plus: Income Tax Paid	2,004	2,697
Less: Imputation Credits attached to dividends paid	(2,426)	(1,846)
Balance as at 31 March	471	893

VUW Te Waharoa — NZ Gazette 2002, No 113

Gazette.govt.nz — NZ Gazette 2002, No 113

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✨ LLM interpretation of page content

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

Domain🏗️ Infrastructure & Public Works
KeywordsElectricity, Financial Performance, Revenue, Expenditure, Taxation, Horizon Energy, Distribution

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