New Zealand Gazette – 2003 – No. 129

Page 3473

✨ Financial Statements Notes



SCANPOWER LIMITED - LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2003

Note 11: Analysis of Non-Cancellable Operating Lease Commitments

2003 2002
$'000 $'000
Payable not later than one year 10 10
Payable later than one year, not later than two years 9 10
Payable later than two years, not later than five years 9 18
Payable later than five years 0 0
28 38

Note 12: Environmental Policy

Scanpower endeavours to adhere to a sustainable use policy with a minimum of environmental disturbance and desecration. To date, Scanpower is unaware of any of its projects or operations that would not meet the above policy nor any environmental regulations currently in existence in New Zealand.

Note 13: Capital Commitments and Contingent Liabilities

As at 31 March 2003 the company did not have any capital commitments or contingent liabilities (2002 also Nil).

Note 14: Segment Information

Scanpower sold its energy retailing business on 30 November 1998 and now operates in one industry which is the management of a distribution network and is entirely within New Zealand.

Note 15: Related Party Information

Scanpower Limited Customer Trust owns, through its nominees, all of the issued capital of Scanpower Limited.

Directors' transactions with the company were made under the normal terms and conditions of supply and sale available to members of staff. No discounts were given during the year. All transactions with related parties are also made under normal terms and conditions of sale and supply. No related party debts were forgiven or written off during the year.

Contestable contracting services in asset construction and maintenance were provided by Scanpower's contracting division at cost, including overheads, and as detailed, respectively here and in Note 18.12b below.

2003 2002
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 (maintenance) 289 355
Low voltage lines and cables (construction) 267 266
Other system fixed assets 0 0


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 129


Gazette.govt.nz — PDF NZ Gazette 2003, No 129




✨ LLM interpretation of page content

🏭 ScanPower Limited Financial Statements for 2003 (continued from previous page)

🏭 Trade, Customs & Industry
31 March 2003
Financial Statements, Notes, Operating Leases, Environmental Policy, Capital Commitments, Segment Information, Related Party Transactions