✨ Financial Statements
21 MARCH
NEW ZEALAND GAZETTE
805
Other Line Business Related Parties:
The Lines Business has a borrowing facility with Dunedin City Treasury Ltd. During the year it paid $7.556 million interest (2001 : $7.605 million) and as at 31 March 2002 $114.0 million of loan monies were outstanding (2001 : $110.8 million).
During the year the Lines Business also undertook the following transactions with Dunedin City Holdings Ltd:
Purchase of subvention expense $1.57 million (2001 : $2.06 million)
Dividends provided $7.67 million (2001 : $6.0 million)
As at 31 March 2002, $1.2 million was outstanding (2001 : $1.6 million).
Tax losses of $2.45 million (tax effect $0.8 million) were purchased from the Council and other companies in the Dunedin City Council group to reduce group tax payable in the 2002 year.
Note 11 :
These financial statements replace financial statements previously audited on 18 December 2002 and publicly disclosed on 10 January 2003 in the New Zealand Gazette - Issue No 3. They include a $3.553 million increase in the ODV value which was incorrectly calculated in the 18 December accounts. They also include consequent changes to those financial performance indicators which are based on the ODV valuation.
Amended Information - Refer Note 11
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 28
Gazette.govt.nz —
NZ Gazette 2003, No 28
✨ LLM interpretation of page content
💰 Financial Transactions and Borrowing Details
💰 Finance & RevenueBorrowing, Interest, Transactions, Dividends, Tax Losses
💰 Amended Financial Statements
💰 Finance & RevenueFinancial Statements, Amendments, ODV Valuation, Performance Indicators