✨ Financial Statements




3 AUGUST 2005

NEW ZEALAND GAZETTE, No. 114

2745

WEL NETWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2005

Line Business 2005 ($000s) 2004 ($000s)

1 Operating Revenue

Revenue from Other

  • Line access charges | 43,838 | 42,566 |
  • Interest | 1,051 | 681 |
  • AC Rental Rebates | 1,234 | 1,728 |
  • Revenue from other business | - | - |
  • Other operating revenue | - | - |

Total Operating Income | 46,123 | 44,975 |

Deducted from Line access charges is $14.1M discount (2004 $11.4M)

2 Operating Expenditure

2005 ($000s) 2004 ($000s)
Transmission charges 11,755 10,615
Transfer payments to Other business for:
- Asset Maintenance 3,813 2,958
- Disconnections/Reconnection - -
- Meter data - -
- Consumer based load control - -
- Avoided transmission (own generation) - -
- Royalties & patents - -
- Other goods/services - -
Total 3,813 2,958

Expenses to entities that are not related parties for:
| - Asset Maintenance | - | - |
| - Disconnections/Reconnection | - | - |
| - Meter data | - | - |
| - Consumer based load control | - | - |
| - Royalties & patents | - | - |
| - Other goods/services | - | - |
| Total | - | - |

| Employee salaries and redundancies | 3,555 | 3,768 |
| Customer billing & Information System expense | - | - |
| Depreciation on: | | |
| - Distribution system | 5,690 | 5,351 |
| - Other assets | 748 | 892 |
| Total | 6,438 | 6,243 |

Amortisation of:
| - Goodwill | - | - |
| - Other Intangibles | - | - |
| Total | - | - |

| Corporate & administration | 467 | 199 |
| Human resource expenses | 248 | 239 |
| Marketing & advertising | 245 | 266 |
| Merger and acquisition | 0 | 2 |
| Takeover defence | - | - |
| Research & development | - | 1 |
| Consultancy & legal | 911 | 1,140 |



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Online Sources for this page:

VUW Te Waharoa PDF NZ Gazette 2005, No 114


Gazette.govt.nz PDF NZ Gazette 2005, No 114





✨ LLM interpretation of page content

🏭 Statement of Accounting Policies for WEL Networks Limited (continued from previous page)

🏭 Trade, Customs & Industry
3 August 2005
Accounting Policies, Expenditure Allocation, Bank Balances, Fixed Assets, Creditors, Leased Assets, Operating Leases, Changes in Accounting Policy, WEL Networks Limited