New Zealand Gazette – 2003 – No. 90

Page 2327

✨ Financial Statements



HORIZON ENERGY DISTRIBUTION LIMITED - Lines Business

NOTES TO THE FINANCIAL STATEMENTS

NOTE Lines Business 2003 $000 Lines Business 2002 $000

2 OPERATING SURPLUS BEFORE TAXATION ITEMS

Operating revenue includes the following items:

External Income

Revenue disclosure items:

  • Revenue from line / access charges
    21,617 | 22,863
  • Gain on Sale of Fixed Assets
    10 | 16
  • AC loss-rental rebates
    301 | 622
  • Other operating revenue
    831 | 1,587
  • Prior year line revenue
    • | 816 ☨

Operating expenditure comprises the following items:

  • Payment for Transmission Charges
    6,985 | 6,685
  • Prior year Transmission costs provisions reversed
    • | (713) ☼
  • Expenses to non-related entities for asset maintenance services / Total specified expenses to non related parties
    841 | 873
  • AC Loss Rental rebates
    134 | -
  • Employee Salaries, Wages and Redundancies
    730 | 750
  • Total cost of offering Credit
    • | -
  • Decrease in estimated doubtful debts
    (5) | (12)
  • Bad Debts Written Off
    21 | -
  • Directors' Fees / Remuneration
    158 | 101
  • Rental and Operating Lease Obligations (refer note 14)
    60 | 89
  • Depreciation on System Fixed Assets (refer note 14)
    2,114 | 2,156
  • Depreciation on Other Fixed Assets
    215 | 220
  • Total Depreciation
    2,329 | 2,376
  • Local Authorities Rates Expense
    46 | 8
  • Other Expenditure
    158 | 1,402
  • Auditors' Fees / Remuneration
    15 | 41
  • Consumer Billing and Information System
    41 | 55
  • Corporate and Administration Expenses
    487 | 533
  • Human Resource Expenses
    30 | 65
  • Consultancy and Legal Expenses
    352 | 570

Total Expenditure
12,409 | 13,536

☨ This amount relates to line revenue which was the subject of litigation settled during the 2002 year in Horizon's favour. It had not been accrued in the previous year.

☼ This amount relates to the reversal of transmission costs provisions prior to 2002. Negotiations concluded during 2002 provided sufficient certainty the provision was no longer required.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 90


Gazette.govt.nz — PDF NZ Gazette 2003, No 90




✨ LLM interpretation of page content

🏭 Financial Statements for Horizon Energy Distribution Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Operating Revenue, Operating Expenditure, Line Charges, Asset Maintenance, Depreciation, Transmission Charges