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New Zealand Gazette – 2002 – No. 95

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✨ Financial Statements

2586

NEW ZEALAND GAZETTE

No. 95

THE LINES COMPANY LIMITED-LINE BUSINESS ACTIVITY

NOTE 12 : RELATED PARTY TRANSACTIONS

a) The related party is the contracting division of The Lines Company.

b) The period covered in these statements are 1st April 2001 to 31st March 2002.

c) There are no outstanding balances and no debts have been written off.

d) All work is recorded on the basis of material at cost plus 15% and labour & plant at $45 per hour.

d) Construction of the following types of assets were undertaken for the lines business.
The values comprise of material, labour and plant costs added by the contracting division.

	2002 $000's	2001 $000's
(i) Construction of Subtransmission Assets	240	124
(ii) Construction of Zone Substations	109	2
(iii) Construction of Distribution Lines and Cables	1,310	1,044
(iv) Construction of Medium Voltage Switchgear	51	135
(v) Construction of Distribution Substations	283	150
(vi) Construction of Low Voltage Reticulation	225	13
(vii) Construction of Other Assets	391	61
(viii) Consumer connections & disconnections	115	1
(ix) Maintenance of distribution system	1,853	1,507
	4,577	3,038

During the year company paid Waitomo Energy Sevices Customer Trust $77,421 of interest on a subordinated debenture.

NOTE 13 : ODV RECONCILIATION

System Fixed Assets at ODV (at the end of the previous year)	70,796	64,823
New Revaluation of System Fixed Assets (previous year)	(5,733)	-
System Fixed Assets at ODV (Beginning of Year)	65,063	64,823
System Fixed Assets Acquired during year at ODV	2,667	2,600
System Fixed Assets Disposed of during year at ODV	-	-
Depreciation on System Fixed Assets at ODV	(2,273)	(1,235)
Revaluations of Systems Fixed Assets	-	4,608
System Fixed Assets at ODV (at the end of the current year)	65,456	70,796

As at 31st March 2001 the ODV Valuation of the lines business as certified by PricewaterhouseCoopers and the Commerce Commission was $65.063 million.

VUW Te Waharoa — NZ Gazette 2002, No 95

Gazette.govt.nz — NZ Gazette 2002, No 95

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for The Lines Company Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Related Party Transactions, Construction, Maintenance, ODV Reconciliation, The Lines Company Limited

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