New Zealand Gazette – 2002 – No. 132

Page 3556

✨ Financial Statements Notes



NOTES TO THE FINANCIAL STATEMENTS

Note 13: Related Party Information

CHB Consumers Power Trust owns all of the issued capital of Centralines Limited.

Directors' transactions with the company were made under normal terms and conditions of supply and sale available to members of staff. No discounts were given during the year.

Contestable contracting services in asset construction and maintenance were provided by CENTRALINES’s contracting division at cost, including overheads, and as detailed, respectively, here and in Note 16.12b below.

2002 2001
Subtransmission assets 0 0
Zone substations 0 0
Distribution lines and cables 0 0
Medium voltage switchgear 0 0
Distribution transformers 0 0
Distribution substations 0 0
Low voltage lines and cables 534 713
Other system fixed assets 0 0

As at 31 March 2002, the total outstanding was nil (2001 – $nil)

During the year Mr H Donald, who is a director provided services totalling $701. (2001 Nil)

Note 14: Financial Instruments

Centralines has no off balance sheet financing (other than those disclosed in these notes), nor any foreign exchange exposure.

The fair value of financial instruments is the carrying amount disclosed in the Statement of Financial Position.

Centralines has an approved overdraft facility with the ANZ Bank for $100,000 at an interest rate of 11.70%.

The interest rates on the company's deposits are presented in note 6.

Note 15: Significant Events after Balance Date

Centralines has terminated its management contract with Scanpower effective 30 September and has entered into an agreement with Hawkes Bay Network for the provision of managerial services from 1 October 2002.

The company is not aware of any other post balance date events which would have a significant effect on the business activities of Centralines.

Note 16: Electricity (Information Disclosure) Regulations 1999 (Schedule 1 Part 2) requirements:

1 Current Assets

a Cash and bank balances | 114 | 877 |
b Short-term investments | 2,650 | 3,500 |
c Inventories | 450 | 350 |
d Accounts receivable | 737 | 847 |
e Other current assets not listed in (a) to (d) | 0 | 45 |
f Total current assets | 4,151 | 5,619 |

2 Fixed Assets

a System fixed assets | 25,032| 28,858|
b Consumer billing and information system assets | 0 | 0 |
c Motor vehicles | 12 | 28 |
d Office equipment | 0 | 154 |
e Land and buildings | 18 | 18 |
f Capital works under construction| 44 | 0 |
g Other fixed assets not listed in (a) to (f) | 0 | 0 |
h Total fixed assets | 25,106| 29,058|



Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 132


Gazette.govt.nz — PDF NZ Gazette 2002, No 132




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Notes, Related Party Transactions, Financial Instruments, Post-Balance Date Events, Electricity Regulations
  • H Donald (Mr), Director provided services