New Zealand Gazette – 2003 – No. 90

Page 2332

✨ Financial Statements

HORIZON ENERGY DISTRIBUTION LIMITED - Lines Business

NOTES TO THE FINANCIAL STATEMENTS

NOTE	Lines Business 2003 $000	Lines Business 2002 $000

11 TERM LOANS

Term loans fall due for repayment in the following periods:

Within One Year
Within One to Two Years
- 29,780 | 31,100
Within Two to Three Years
Within Three to Four Years
Within Four to Five Years

Balance as at 31 March | 29,780 | 31,100

Disclosed in Balance Sheet as:

Current Portion of Term Loans
Term Loans | 29,780 | 31,100

Balance as at 31 March | 29,780 | 31,100

All term loans are unsecured and are subject to negative pledge undertakings. The weighted average interest rate, inclusive of margins on term loans is 6.96% (2002 6.76%), taking into account the hedging undertakings by the Company as disclosed in Note 19. For that portion of term loans not hedged, the loan is at the floating 90 day bank bill rate. The Company currently has $40 million rolling loan facilities, confirmed at this level until 31 October 2004.

12 DISTRIBUTION TO OWNERS

Dividends paid attributed to Lines Business

5,557 | 4,998

Dividends Paid attributable to "Other" business

691 |

Total Dividends Paid by Horizon Energy Distribution Limited | 6,248 | 4,998

Amounts shown are based on the number of shares on issue after the 5 for 1 share split in June 2002. The 2003 figures are for the share of dividend relating to Lines Business.

13 IMPUTATION CREDIT ACCOUNT

	Group 2003	Group 2002

Opening Balance
- 471 | 893
Plus: Income Tax Paid
- 2,616 | 2,004
Less: Imputation Credits attached to dividends paid for "Other" business
- (2,737) | (2,426)
Imputation Credits attached to dividends paid for Line Business
- (340) |

Balance as at 31 March | 4 | 471

VUW Te Waharoa — NZ Gazette 2003, No 90

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

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✨ LLM interpretation of page content

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

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Term Loans, Dividends, Imputation Credit Account

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