New Zealand Gazette – 2005 – No. 101

Page 2413

✨ Financial Reporting

WAIPA NETWORKS LIMITED - LINES BUSINESS

13 SEGMENTAL REPORTING

Waipa Networks operates predominantly in one industry, distribution of electricity. All operations are carried out within New Zealand, and are therefore within one geographical segment for reporting purposes.

14 RELATED PARTIES

At balance date, the Waipa Networks Trust held 100 per cent of the shares in Waipa Networks Limited

All related party transactions in the accounts of Waipa Networks have been conducted on a commercial and arms length basis.

The contracting department of Waipa Networks has provided the following services at cost, including overheads, for the year ended 31 March 2005

	2005	2004
Construction of distribution lines & cables	919,640	466,628
Construction of medium voltage switchgear	544,466	193,407
Construction of distribution transformers	557,739	360,255
Construction of distribution substations	235,251	227,021
Construction of low voltage lines and cables	262,153	281,533
Construction of other system fixed assets	206,485	338,425
Maintenance of assets	1,299,478	1,248,027
Consumer connections and reconnections	6,636	5,376
Other services	50,877	34,825

The following transactions occurred between the line business and other business.

Interest paid to Other: 796,000 (2004: 798,181)

The line business has a loan from the other business refer note 10.
The amount outstanding at balance date was $8,000,000 (2004: $8,000,000).

At year end there were no other outstanding balances for related parties (2004 Nil).
No related party debt has been written off or forgiven during 2005 or 2004.

No provision has been made in the accounts for payment of a final dividend to the Waipa Networks Trust. (2004: Nil). No interim dividends have been paid (2004: Nil).

VUW Te Waharoa — NZ Gazette 2005, No 101

Gazette.govt.nz — NZ Gazette 2005, No 101

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✨ LLM interpretation of page content

🏭 Notes to and forming part of the Financial Statements for Waipa Networks Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial statements, Segmental Reporting, Related Parties, Waipa Networks Limited

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