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New Zealand Gazette – 2004 – No. 163

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✨ Financial Commitments and Related Party Transactions

14. Commitments

Capital commitments

At balance date, there was $334,086 expenditure contracted for and approved by the company (2003 - $269,000).

Operating lease commitments

Lease commitment under non-cancellable operating leases

| | 2004
$000 | 2003
$000 |
|----------------|-----------------|---------------|
| Not later than one year | 24 | 24 |
| Within one to two years | 24 | 24 |
| Within two to five years | 14 | - |
| Total | 62 | 48 |

15. Transactions with related parties

During the year the Company purchased construction and maintenance services from its wholly owned subsidiary, Electra Contracting Limited, to an amount of $2,912,000 (2003 - $3,949,000). The amount owed to Electra Contracting at year end is $339,000 (2003 - $402,000).

| | 2004
$000 | 2003
$000 |
|---------------------------------|-----------------|---------------|
| (a.) Construction of subtransmission assets | 37 | 553 |
| (b.) Construction of zone substations | 314 | 115 |
| (c.) Construction of distribution lines and cables | 119 | 33 |
| (d.) Construction of medium voltage switchgear | 173 | 98 |
| (e.) Construction of distribution transformers | 347 | - |
| (f.) Construction of distribution substations | - | - |
| (g.) Construction of low voltage reticulation | 52 | 281 |
| (h.) Construction of other system fixed assets | - | - |
| (i.) Maintenance of assets | 1,871 | 2,869 |
| (j.) Consumer connections and disconnections | - | - |

No related party debts have been written off or forgiven during this, or last year.

VUW Te Waharoa — NZ Gazette 2004, No 163

Gazette.govt.nz — NZ Gazette 2004, No 163

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

💰 Electra Limited - Financial Commitments (continued from previous page)

Domain💰 Finance & Revenue
Dated14 December 2004
KeywordsCapital commitments, Operating lease commitments, Financial obligations

💰 Transactions with Related Parties

Domain💰 Finance & Revenue
Dated14 December 2004
KeywordsRelated party transactions, Construction services, Maintenance services, Subsidiary company

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