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New Zealand Gazette – 2005 – No. 134

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✨ Financial Commitments and Related Party Transactions

14. Commitments

Capital commitments

At balance date, there was $4,500 expenditure contracted for and approved by the company (2004 - $334,086).

Operating lease commitments

Lease commitment under non-cancellable operating leases

| | 2005
($000) | 2004
($000) |
|-----------------------|---------|---------|
| Not later than one year | 37 | 24 |
| Within one to two years | 12 | 24 |
| Within two to five years | - | 14 |
| | $49 | $62 |

15. Transactions with related parties

During the year the Company purchased construction and maintenance services from its wholly owned subsidiary, Electra Contracting Limited, to an amount of $3,348,000 (2004 - $2,912,000). The amount owed to Electra Contracting at year end is $430,000 (2004 - $339,000).

| | 2005
($000) | 2004
($000) |
|-----------------------------------|---------|---------|
| (a.) Construction of subtransmission assets | 194 | 37 |
| (b.) Construction of zone substations | 61 | 314 |
| (c.) Construction of distribution lines and cables | 360 | 119 |
| (d.) Construction of medium voltage switchgear | 254 | 173 |
| (e.) Construction of distribution transformers | 771 | 347 |
| (f.) Construction of distribution substations | - | - |
| (g.) Construction of low voltage reticulation | 144 | 52 |
| (h.) Construction of other system fixed assets | 1 | - |
| (i.) Maintenance of assets | 1,563 | 1,871 |
| (j.) Consumer connections and disconnections | - | - |

No related party debts have been written off or forgiven during this, or last year.

VUW Te Waharoa — NZ Gazette 2005, No 134

Gazette.govt.nz — NZ Gazette 2005, No 134

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✨ LLM interpretation of page content

💰 Capital Commitments

Domain💰 Finance & Revenue
KeywordsCapital expenditure, financial commitments, budgeting

💰 Operating Lease Commitments

Domain💰 Finance & Revenue
KeywordsLease agreements, financial obligations, operating leases

💰 Transactions with Related Parties

Domain💰 Finance & Revenue
KeywordsRelated party transactions, subsidiary services, financial disclosures

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