New Zealand Gazette – 2004 – No. 172

Page 4306

✨ Financial Statements



4306

NEW ZEALAND GAZETTE, No. 172

22 DECEMBER 2004

HORIZON ENERGY DISTRIBUTION LIMITED - Lines Business

NOTES TO THE FINANCIAL STATEMENTS

11 TERM LOANS

Term loans fall due for repayment in the following periods:

Within One Year                                          -               -
Within One to Two Years                               28,285          29,780
Within Two to Three Years                               -               -
Within Three to Four Years                              -               -
Within Four to Five Years                               -               -
Balance as at 31 March                               28,285          29,780

Disclosed in Balance Sheet as:

Current Portion of Term Loans                           -               -
Term Loans                                        28,285          29,780
Balance as at 31 March                              28,285          29,780

All term loans are unsecured and are subject to negative pledge undertakings. The weighted average interest rate, inclusive of margins on term loans is 6.85% (2003 6.96%), taking into account the hedging undertaken by the Company as disclosed in Note 19. For that portion of term loans not hedged the loan is at the floating 90 day bank bill rate plus margin. The Company currently has $40 million rolling loan facilities, confirmed at this level until 31 October 2005.

12 DISTRIBUTION TO OWNERS

Dividends paid attributed to Lines Business            4,827           5,557
Dividends Paid attributable to "Other" business          671             691
Total Dividends Paid by Horizon Energy Distribution Limited  5,498           6,248

13 IMPUTATION CREDIT ACCOUNT

Opening Balance                                        4             471
Plus: Income Tax Paid                                2,704           2,610
Less: Imputation Credits attached to dividends paid for "Other" business  (2,377)         (2,737)
     Imputation Credits attached to dividends paid for Line Business     (330)           (340)
Balance as at 31 March                                 1               4


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 172


Gazette.govt.nz — PDF NZ Gazette 2004, No 172




✨ LLM interpretation of page content

🏭 Financial Statements Notes for Horizon Energy Distribution Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Term Loans, Dividends, Imputation Credit Account, Accounts Payable