New Zealand Gazette – 2004 – No. 172

Page 4307

✨ Financial Statements Notes

HORIZON ENERGY DISTRIBUTION LIMITED - Lines Business

NOTES TO THE FINANCIAL STATEMENTS

NOTE	Lines Business 2004 $000	Lines Business 2003 $000

14 OPERATING LEASES

Operating lease commitments fall due for repayment in the following periods:


Within One Year	45	47
Within One to Two Years	45	45
Within Two to Five Years	135	135
Within Five to Eight Years	75	120
Total	300	347

15 REMUNERATION OF AUDITORS

Amounts received, or due and receivable, by the principal auditors for:

Auditing the Financial Statements:

Other Services:

Assurance related

Total Payments to Auditors

16 RELATED PARTY TRANSACTIONS

The Company conducts business predominantly in the Eastern Bay of Plenty and undertakes transactions with shareholders, company officers and other related parties that reside in the region. All transactions with related parties have been carried out on a commercial and "arms length" basis.

Transactions

| Sales to Eastern Bay Energy Trust | 240 | 59 |
| Dividend paid to Eastern Bay Energy Trust | 4,250 | 4,829 |
| Transfers to and from "Other" business | (562) | 1,894 |

Balance

Amounts owed by "Other" business for re-allocations to and from "Other" business
1,622

Amounts owed by Eastern Bay Energy Trust
186

Eastern Bay Energy Trust owns 77.29% of the ordinary shares of Horizon Energy Distribution Limited.

During 2004, certain activities and assets identified as relating to non-lines business have been transferred to "Other" business at book values.

VUW Te Waharoa — NZ Gazette 2004, No 172

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

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✨ LLM interpretation of page content

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

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Operating Leases, Auditor Remuneration, Related Party Transactions, Eastern Bay Energy Trust

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