New Zealand Gazette – 2004 – No. 171

Page 4266

✨ Financial Statements



4266

NEW ZEALAND GAZETTE, No. 171

22 DECEMBER 2004

TRANSPower NEW ZEALAND LIMITED LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS continued

FOR THE YEAR ENDED 30 JUNE 2004

  1. OPERATING EXPENSES
LINES BUSINESS 2004 $000 LINES BUSINESS 2003 $000
Administration and general costs 66,306 65,099
Asset operation and maintenance costs 107,345 120,445
Charges in respect of assets:
Depreciation - Buildings 2,737 1,942
Depreciation - Substations 33,491 32,893
Depreciation - HVDC Link 10,155 10,788
Depreciation - HVDC leased assets 13,698 12,176
Depreciation - Communication assets 7,741 9,464
Depreciation - Administration assets 13,282 14,044
Depreciation - Transmission Lines 31,305 -
Infrastructure asset service potential adjustment - 8,545
Stock and asset write-offs 16,266 7,105
Charges in respect of receivables:
Bad debts written off - 8
Movement in the provision for doubtful debts (8,251) 8,251
Provision for industry related costs (5,000) -
Directors’ fees 297 320
Study grants and donations 940 877
Lease and rental costs 3,069 2,591
Total operating expenses 295,381 294,557

Net loss on the disposal of assets included in stock and asset write-offs:

Net loss on the disposal of assets

15,011 6,810
15,011 6,810

Electricity regulations additional disclosures:
Employee salaries and redundancies 30,413 28,688
Human resource expenses 3,150 2,766
Marketing / advertising expenses 571 551
Legal and consultancy expenses (including industry reform) 9,357 12,419
Corporate and administration expenses 18,219 14,891
Other 4,596 5,784
Total administration and general expenditure 66,306 65,099

Transfer payments to "Other Transpower Businesses"
Payment for metering data 1,242 988
Payment for insurance 11,314 11,427
Total transfer payments to "Other Transpower Businesses" 12,556 12,415

Local authority rates expense

1,385 1,145

Consumer billing and information system expense

375 375

Depreciation of system assets

97,799 65,847

Depreciation of other assets

16,610 15,460

Total depreciation

114,409 81,307

Bad debts written off

- 8

Movement in the provision for doubtful debts

(8,251) 8,251

Total cost of offering credit

(8,251) 8,259

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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 171


Gazette.govt.nz — PDF NZ Gazette 2004, No 171




✨ LLM interpretation of page content

🏭 Financial Performance of Transpower New Zealand Limited Lines Business (continued from previous page)

🏭 Trade, Customs & Industry
22 December 2004
Financial Statements, Operating Expenses, Depreciation, Asset Management, Transmission Services