✨ Financial Statements




TOP ENERGY LIMITED

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 2005

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 2005, Top Energy Ltd paid $5.5m (31 March 2004: $5.35m) 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 2005, a balance of $93,277 (31 March 2004: $1,379 Account Receivable) owing by the Company to the Trust has been included in accounts payable 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 2005 (Income)/cost 2004 (Income)/cost
Transfer Payment Cost to Line:
a Asset maintenance services 3,629,789
b Avoided transmission charges 610,885
c Property rental 77,872
Payment for meter data Nil
Consumer based load control Nil
Disconnection/reconnection services Nil
d Asset construction Nil
Subtransmission assets Nil
Zone substations 34,200
Distribution lines & cable 2,360,412
Medium voltage switchgear -
Distribution transformers 1,635,801
Distribution substations -
Low voltage lines & cables 1,261,173
Other system fixed assets -


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Online Sources for this page:

VUW Te Waharoa PDF NZ Gazette 2005, No 129


Gazette.govt.nz PDF NZ Gazette 2005, No 129





✨ 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, Transfer payments