✨ Financial Statements and Notes
17 DECEMBER 2004 NEW ZEALAND GAZETTE, No. 168 4209
2004
$000's 2003
$000's
- Commitments
At balance date, capital commitments were as follows:
| Distribution system | 6,323 4,894 |
| Other | - - |
6,323 4,894Capital commitments of $2.0m are uncertain as to timing (2003 $1.7m). Other capital commitments are expected to be met in the next financial year.
At balance date, lease commitments were as follows:
| 2004 2003 | |
|---|---|
| 2005 | 50 49 |
| 2006 | 50 49 |
| 2007 | 50 49 |
| 2008 | 50 49 |
| 2009 and beyond | 498 488 |
Note: commitments that extend beyond 2009 have been assessed for a maximum period of 10 years.
- Related parties
Transactions with owners and directors
The company has been 100% owned by Orion Group Limited (the Holding Company) since 23 October 1998.
Christchurch City Holdings Limited (CCHL) is an 87.625% shareholder in the Holding Company. CCHL is 100% owned by the Christchurch City Council (CCC).
Selwyn Council Trading Enterprises Limited (SCTEL) is a 10.725% shareholder in the Holding Company. SCTEL is 100% owned by the Selwyn District Council (SDC).
Banks Peninsula District Council (BPDC) is a 1.650% shareholder in the Holding Company.
The Company undertakes many transactions with the shareholders and their related parties, all of which are carried out on a commercial and arms length basis.
During the year no material transactions, other than the payment of dividends, were entered into with such parties.
During the year no material transactions were entered into with any of the directors.
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2004, No 168
Gazette.govt.nz —
NZ Gazette 2004, No 168
✨ LLM interpretation of page content
🏭
Notes to the financial statements for Orion New Zealand Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial statements, Commitments, Lease commitments, Related parties, Shareholders