New Zealand Gazette – 2004 – No. 173

Page 4342

✨ Financial Statements Notes



4342

NEW ZEALAND GAZETTE, No. 173

22 DECEMBER 2004

TOP ENERGY LIMITED

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 2004

14 RELATED PARTY TRANSACTIONS

There have been no material related party transactions requiring disclosure in accordance with SSAP 22 \"Related Party Disclosures\", apart from the following:

i. Top Energy Consumer Trust:

Top Energy Ltd is wholly owned by Top Energy Consumer Trust. For the period ended 31 March 2004, Top Energy Ltd paid $5.35m (31 March 2003: $4.575m) in the form of a dividend to the above Trust. This payment is reflected in the Statement of movements in Equity of Top Energy Ltd.

During the period Top Energy processed transactions on an agency basis on behalf of the Trust in order to settle routine business dealings. As at 31 March 2004, a balance of $1,379 (31 March 2003: $22,430) owing by the Trust to the Company has been included in accounts receivable in the statement of financial position. All transactions with the Trust were made on normal business terms.

ii. Transfer Payments between Line & ‘Other’ business:

The following related party transactions occurred in the year between the Line & Other businesses.

Note 2004 2003
(Income)/cost (Income)/cost
Transfer Payment Cost to Line:
Asset maintenance services a 2,472,716 2,038,000
Avoided transmission charges b 609,000 468,000
Property rental c 37,456 46,900
Payment for meter data Nil Nil
Consumer based load control Nil Nil
Disconnection/reconnection services Nil Nil
Asset construction d
Subtransmission assets Nil Nil
Zone substations 934,935 226,106
Distribution lines & cable 1,478,895 1,747,061
Medium voltage switchgear - 27,394
Distribution transformers 17,936 73,024
Distribution substations - -
Low voltage lines & cables 706,772 1,362,778
Other system fixed assets - -


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 173


Gazette.govt.nz — PDF NZ Gazette 2004, No 173




✨ LLM interpretation of page content

🏭 Notes to the Special Purpose Financial Statements for Top Energy Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Related Party Transactions, Dividends, Asset Maintenance, Transfers