New Zealand Gazette – 2003 – No. 110

Page 2913

✨ Financial Statements

22 AUGUST

NEW ZEALAND GAZETTE

2913

	2003 $'000	2002 $'000
9 Equity
(a.) Shareholders' equity -
(i) Share capital	18,000	18,000
(ii) Retained earnings	10,254	9,809
(iii) Reserves	38,460	37,724
(iv) Total shareholders' equity	66,714	65,533
(b.) Minority interests in subsidiaries	-	-
(c.) Total equity	66,714	65,533
(d.) Capital notes	-	-
(e.) Total capital funds	66,714	65,533

| 10 Total Equity and Liabilities | 84,598 | 80,925 |

| 11 Operating revenue | | |
| (a.) Revenue from line/access charges | 20,143 | 19,395 |
| (6,955) | (6,951) |
| (b.) Line charge discount to consumers | | |
| (c.) Revenue from “other” business for services carried out by the line business (transfer payment) | - | - |
| (d.) Interest on cash, bank balances, and short-term investments | 21 | 38 |
| (e.) AC loss-rental rebates | 686 | 1,383 |
| (f.) Other operating revenue not listed in (a) to (d) | 405 | 322 |
| (g.) Total operating revenue | 14,300 | 14,187 |

| 12 Operating expenditure | | |
| (a.) Payment for transmission charges | 5,241 | 5,066 |
| (b.) Transfer payments to the “other” business for: | | |
|     (i) Asset maintenance: | 2,869 | 2,613 |
|     (ii) Consumer disconnection/reconnection services: | - | - |
|     (iii) Meter data: | - | - |
|     (iv) Consumer-based load control services: | - | - |
|     (v) Royalty and patent expenses: | - | - |
|     (vi) Avoided transmission charges on account of own generation: | - | - |
|     (vii) Other goods and services not listed in (i) to (vi): | - | - |
| (viii) Total transfer payment to the “other” business | 2,869 | 2,613 |
| (c.) Expense to entities that are not related parties for: | | |
|     (i) Asset maintenance: | 979 | 1,064 |
|     (ii) Consumer disconnection/reconnection services: | - | - |
|     (iii) Meter data: | - | - |
|     (iv) Consumer-based load control services: | - | - |
|     (v) Royalty and patent expenses: | - | - |
|     (vi) Total of specified expenses to non-related parties | 979 | 1,064 |
| (d.) Employee salaries, wages and redundancies | 749 | 625 |
| (e.) Consumer billing and information systems | - | - |
| (f.) Depreciation on: | | |
|     (i) System fixed assets: | 659 | 585 |
|     (ii) Other assets not listed in (i): | 354 | 341 |
|     (iii) Total depreciation | 1,013 | 926 |
| (g.) Amortisation of: | | |
|     (i) Goodwill | - | - |
|     (ii) Other intangibles | - | - |
|     (iii) Total amortisation of intangibles | - | - |
| (h.) Corporate and administration | 325 | 389 |
| (i.) Human resource expenses | 64 | 91 |