✨ Financial Statements and Transactions
26 NOVEMBER 2004
NEW ZEALAND GAZETTE, No. 154
3811
11. Related Party Transactions
The following transactions occurred during the period with Related Parties:
| Distribution 2004 $ | Distribution 2003 $ | Retail 2004 $ | Retail 2003 $ | |
|---|---|---|---|---|
| Wanganui District Council (74.9% Shareholder): (C E Poynter, Mayor) (P A Bullock, Councillor) | ||||
| Rent | $ 71,189 | $ 71,058 | $ 25,725 | $ 22,997 |
| Information Services Support | $ 58,823 | $ 130,143 | $ 48,179 | $ 84,667 |
| Plant hire | $ 4,984 | - | $ 6,097 | - |
| Rates | $ 28,086 | $ 15,638 | $ 4,406 | $ 765 |
| Other | $ 7,159 | $ 2,995 | $ 8,758 | $ 3,814 |
| $ 170,241 | $ 219,824 | $ 93,165 | $ 112,243 |
| NGC (25.1% Shareholder): (S L Brisley, General Counsel, K M Baker, Chief Financial Officer, R J Bentley, Director) |
| Gas Purchases & Transmission Services | - | - | $ 7,299,281 | $ 5,226,433 |
| Other | $ 4,291 | - | $ 5,250 | - |
| | $ 4,291 | - | $ 7,304,531 | $ 5,226,433 |
Amounts Owed to Related Parties at Balance date were:
| 2004 $ | 2003 $ | 2004 $ | 2003 $ | |
|---|---|---|---|---|
| Wanganui District Council | $ 2,806 | $ 6,253 | $ 1,535 | $ 3,193 |
| Natural Gas Corporation | $ 409 | - | $ 695,471 | $ 223,810 |
All Transactions were conducted on normal commercial terms.
NGC Shares purchased following Rights Issue
12. Prescribed Business Relationships
Under Regulation 22 of the Gas (Information Disclosure) Regulations 1997 total costs and revenue must be disclosed for goods and services provided between entities in prescribed business relationships. 'Distribution' and 'Retail' fall within the Gas (Information Disclosure) Regulations 1997 definition of a prescribed business relationship (Regulation 3).
| 2004 $ | 2003 $ | |
|---|---|---|
| Distribution Revenue from Retail | ||
| Gas Distribution Tariffs * | $ 3,270,859 | $ 3,035,837 |
| Distribution Debtors from Retail |
| Wanganui Gas Ltd - Distribution * | $ 335,965 | $ 280,365 |
- Tariff represents revenue to Distribution for the transportation of gas through its distribution network.
The value of transactions is calculated by applying current published Distribution tariffs to actual Retail throughput gas volumes and connection numbers. Transactions represent a book entry only. Debtor represents June revenue - assumed to be paid in the subsequent month.
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2004, No 154
Gazette.govt.nz —
NZ Gazette 2004, No 154
✨ LLM interpretation of page content
💰
Notes to the Financial Statements
(continued from previous page)
💰 Finance & RevenueFinancial Instruments, Credit Risk, Interest Rate Risk, Currency Risk, Bank Balances, Accounts Receivable, Long Term Borrowings
💰 Related Party Transactions
💰 Finance & RevenueRelated Party Transactions, Distribution, Retail, Wanganui District Council, NGC, Rent, Information Services Support, Plant Hire, Rates, Gas Purchases, Transmission Services
- C E Poynter (Mayor), Mayor of Wanganui District Council
- P A Bullock (Councillor), Councillor of Wanganui District Council
- S L Brisley (General Counsel), General Counsel of NGC
- K M Baker (Chief Financial Officer), Chief Financial Officer of NGC
- R J Bentley (Director), Director of NGC
💰 Prescribed Business Relationships
💰 Finance & RevenuePrescribed Business Relationships, Gas (Information Disclosure) Regulations 1997, Distribution Revenue, Retail, Gas Distribution Tariffs, Distribution Debtors