✨ Financial Statements
4210 NEW ZEALAND GAZETTE, No. 168 17 DECEMBER 2004
| 2004 $000's | 2003 $000's |
|---|
A summary of the related party transactions with the CCC, SDC and BPDC is as follows:
Transactions during the year
Purchases from CCC
1,788
1,328
Revenues from CCC
1,906
3,722
Purchases from SDC
124
72
Revenues from SDC
489
311
Purchases from BPDC
68
47
Revenues from BPDC
5
3
Dividend payments to CCHL
58,577
20,723
Dividend payments to SCTEL
7,170
2,536
Dividend payments to BPDC
1,103
391
Outstanding balances as at 31 March
Accounts payable to CCC
30
15
Accounts receivable from CCC
857
1,012
Accounts payable to SDC
Accounts receivable to SDC
351
264
Accounts payable to BPDC
Accounts receivable from BPDC
Transactions with "other" businesses
For the purposes of Requirement 8, transactions taking place between the line business and "other" businesses must be identified.
The company had considerable numbers of interactions with its wholly-owned contracting subsidiary, Connetics Limited, during the years ending 31 March 2004 and 2003.
A description of the intercompany transactions, revenue amounts and balances at 31 March 2004 and 2003 follows. Note that estimated data has had to be used in the determination and apportionment of costs for Connetics into the required categories.
Connetics has provided construction and maintenance services to the line business for the period 1 April 2003 to 31 March 2004, and for a number of prior years.
These services follow the awarding of a contract based on a contested lowest-price conforming tender. In virtually every case multiple parties were invited to tender for such work. In the case of emergency maintenance, a contract comprising a renegotiated schedule of rates has been agreed. A contract has also been negotiated for the management of system spares.
Contract variations and adjustments have been negotiated between the parties. No debts have been written off and forgiven during the year. Amounts are due the 20th of the month following date of invoice.
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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
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Notes to the financial statements for Orion New Zealand Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial statements, Commitments, Lease commitments, Related parties, Shareholders, Transactions, Purchases, Revenues, Dividends, Balances