New Zealand Gazette – 2003 – No. 112

Page 2965

✨ Financial Statements

WEL NETWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2003

Line Business	2003 ($000s)	2002 ($000s)
1 Operating Revenue
Revenue from Other	-	-
Line access charges	47,202	49,813
Interest	114	474
AC Rental Rebates	1,641	2,625
Revenue from other business	-	-
Other operating revenue	-	-
Total Operating Income	48,957	52,912

Deducted from Line access charges is $7.5M discount (2002 NIL)

| 2 Operating Expenditure | | |
| Transmission charges | 10,762 | 10,472 |
| Transfer payments to Other business for: | | |
| Asset Maintenance | 3,993 | 3,942 |
| Disconnections/Reconnection | - | - |
| Meter data | - | - |
| Consumer based load control | - | - |
| Avoided transmission (own generation) | - | - |
| Royalties & patents | - | - |
| Other goods/services | - | - |
| Total | 3,993 | 3,942 |

Expenses to entities that are not related parties for:
| Asset Maintenance | - | - |
| Disconnections/Reconnection | - | - |
| Meter data | - | - |
| Consumer based load control | - | - |
| Royalties & patents | - | - |
| Other goods/services | - | - |
| Total | - | - |

| Employees salaries and redundancies | 3,293 | 3,377 |
| Customer billing & Information System expense | - | - |
| Depreciation on: | | |
| Distribution system | 5,235 | 4,539 |
| Other assets | 996 | 1,677 |
| Total | 6,231 | 6,216 |

| Amortisation of: | | |
| Goodwill | - | - |
| Other Intangibles | - | - |
| Total | - | - |

| Corporate & administration | 155 | 364 |
| Human resource expenses | 206 | 229 |
| Marketing & advertising | 276 | 316 |
| Merger and acquisition | 1,300 | 110 |
| Takeover defence | - | - |
| Research & development | 10 | - |
| Consultancy & legal | 660 | 1,090 |

VUW Te Waharoa — NZ Gazette 2003, No 112

Gazette.govt.nz — NZ Gazette 2003, No 112

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Certification of Financial Statements for WEL Networks Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated17 June 2003
KeywordsFinancial Statements, Performance Measures, Certification, WEL Networks Limited, Electricity, Information Disclosure, Fixed Assets, Depreciation, Line Business Split

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