New Zealand Gazette – 2002 – No. 69

Page 1860

✨ Financial Statements

1860
NEW ZEALAND GAZETTE
No. 69

Network Tasman Limited
Line Business Financial Statements

Notes to and forming part of the financial statements
For the year ended 31 March 2002

Related parties
There were no related party transactions in relation to the following (2001: nil):

Construction of subtransmission assets
Construction of zone substations
Construction of distribution lines and cables
Construction of medium voltage switchgear
Construction of distribution transformers
Construction of distribution substations
Construction of low voltage reticulation
Construction of other system fixed assets
Maintenance of assets
Consumer connections and disconnections

Parent entity
The holding entity of the company is the Network Tasman Trust which holds 100% (2001: 100%) of the company's shares.

Refer to Note 6 for dividends paid to the holding entity.

Associate company
Network Tasman Limited has a 50% shareholding in Nelson Electricity Limited. Nelson Electricity Limited owns and operates the electricity distribution network in Nelson city.

Transmission costs charged by national grid operator Transpower NZ Limited for connection by Nelson Electricity Limited to the national grid are on-charged, at cost, by Network Tasman Limited to Nelson Electricity Limited.

Net transmission costs on-charged (1 April 2001 to 31 March 2002) 1,401
Balance due from Nelson Electricity Limited as at 31 March 2002 127

No related party debts have been written off or forgiven during the year.

Segmental Information
For reporting purposes the company operates predominantly in one industry - the distribution of electricity. The operations of the company are carried out in New Zealand and are therefore within one geographical segment for reporting purposes.
Commitments

Capital commitments
Capital commitments as at 31 March 2002 were $181,763 (2001: $nil).

Operating lease commitments
Lease commitments under non-cancellable operating leases are payable as follows:

Less than one year 254
Between one and two years 254
Between two and five years 763
Greater than five years 2,156

Total operating lease commitments 3,427

VUW Te Waharoa — NZ Gazette 2002, No 69

Gazette.govt.nz — NZ Gazette 2002, No 69

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Network Tasman Limited Line Business Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Network Tasman Limited, Related Parties, Segmental Information, Commitments

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