New Zealand Gazette – 2005 – No. 132

Page 3221

✨ Financial Transactions and Subvention Payments

19 AUGUST 2005 NEW ZEALAND GAZETTE, No. 132 3221

The company has provided directors and some specialised administrative support to Connectics. These have been charged on a commercial arms-length basis.

No debts have been written off or forgiven during the year. Amounts were due the 20th of the month following date of invoice.

| | 2005
$000’s | 2004
$000’s |
|------------------|------------------|
| Payments received from Connectics for services | 158 | 115 |
| Balance outstanding at 31 March | 10 | 29 |

The company has also made subvention payments to 100%-owned subsidiaries in order to utilise the tax losses of those companies.

Subvention payments made are as follows:

| Company | 2005
$000’s | 2004
$000’s |
|--------------------------------------|------------------|
| Transflux Limited | 98 | - |
| Orion New Zealand Ventures Limited | 8 | - |
| Orion (Whisper Tech) Limited | 10,761 | - |
| | 10,867 | - |

These amounts were owed by the company to those subsidiaries at 31 March 2005.

Significant events after balance date

There were no significant events between the preparation and authorisation of these accounts on 2 August 2005.

VUW Te Waharoa — NZ Gazette 2005, No 132

Gazette.govt.nz — NZ Gazette 2005, No 132

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

💰 Transactions with Related Businesses (continued from previous page)

Domain💰 Finance & Revenue
KeywordsIntercompany transactions, Revenue, Balances, Connetics Limited, Construction, Maintenance, Subvention payments, Tax losses

💰 Significant events after balance date

Domain💰 Finance & Revenue
Dated2 August 2005
KeywordsFinancial statements, No significant events

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