New Zealand Gazette – 2005 – No. 115

Page 2772

✨ Financial Statements



2772

NEW ZEALAND GAZETTE, No. 115

3 AUGUST 2005

13 SEGMENT INFORMATION

The predominant activity of Electricity Ashburton Limited is the distribution of electricity. All operations are conducted in New Zealand.

14 RELATED PARTIES

Electricity Ashburton Limited has a contracting division that provides services to the Lines Business. The services provided are for the maintenance of the network and capital construction of System Assets. The services are provided in an ongoing capacity. The standard charge for these services are:

Labour $22 to $32 per hour
External Purchase Charged at cost
Transport (light truck) $7.20 per hour
Transport (heavy truck) $18 to $27 per hour

The contracting division of Electricity Ashburton Limited has provided the following services at cost, including overheads, for the period 1 April 2004 to 31 March 2005

                                        2005        2004
                                        $           $

Construction of distribution lines & cables 3,920,506 3,236,950
Construction of medium voltage switchgear 0 0
Construction of distribution transformers 1,349,963 1,256,298
Construction of distribution substations 2,233,605 1,727,960
Construction of low voltage lines and cables 129,016 94,955
Construction of other system fixed assets 0 0
Maintenance of assets 797,538 862,560
Consumer connections and reconnections 0 0
Other services 24,504 30,819

No amounts have been forgiven or written off, and no amounts remain outstanding at the end of the period.

15 RECONCILIATION OF NET SURPLUS TO NET CASH FLOW FROM OPERATING ACTIVITIES

Reported Net Profit After Tax 1,253,059 4,010,482

Add Non Cash items:
Movement in Deferred Taxation 1,540,390 1,508,277
Capital Gain on Assets (341,523) (1,087,003)
Loss on Sale of Assets 0 774
Depreciation Recovered 4,191,224 3,475,888
6,643,150 7,770,856

Add (less) Movements in Working Capital Items:
Decrease (Increase) in Receivables (307,247) 298,954
Decrease (Increase) in Inventories (382,723) 421,808
(Decrease) Increase in Accounts Payable 109,840 136,643
(Decrease) Increase in Tax Payable (483,017) 985,139
(1,063,147) 1,842,544

Add (less) Items Classified as Investing Activities:
0 0
0 0

Net Cash Flows from Operating Activities 5,580,003 9,613,400



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 115


Gazette.govt.nz — PDF NZ Gazette 2005, No 115




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Electricity Ashburton Ltd (continued from previous page)

🏭 Trade, Customs & Industry
Financial statements, Segment information, Related parties, Reconciliation, Electricity, Ashburton