✨ Financial Statements
23 AUGUST 2005 NEW ZEALAND GAZETTE, No. 136
3307
2. Commitments and Contingent Liabilities
There were capital commitments at 31 March 2005 of $552,547 (2004 $380,500). The Lines Business has no contingent liabilities at the end of the period (2004 Nil).
3. Related Party Transactions
Associated Entity: Networks South Limited
Networks South Limited is 50% owned by Network Waitaki Limited and provided administrative, engineering and planning functions for the network from 1 April 2004 to 31 March 2005. These services are charged on a fixed contract basis.
During the period, this charge totalled $928,728 (2004 $985,200). The outstanding amount as at 31 March 2005 was $93,090 (2004 $238) payable on normal commercial terms.
No debts were written off or forgiven and no transactions took place at nil or nominal value. Transactions do not relate to the categories specified in the Disclosure Regulations.
Associated Entity: NetCon Limited
NetCon is wholly owned by Networks South Limited and provided asset maintenance and construction services for the network from 1 April 2004 to 31 March 2005. Services were charged on both a fixed price basis or "time and materials" basis.
During the period, this charge totalled $2,973,100 (2004 $1,675,229). The outstanding amount as at 31 March 2005 was $738,285 (2004 $173,138) payable on normal commercial terms.
No debts were written off or forgiven and no transactions took place at nil or nominal value.
During the period capital construction transactions totalled the following:
| Year to 31/3/2005 | Year to 31/3/2004 | |
|---|---|---|
| Subtransmission assets | $297,568 | $0 |
| Zone substations | $40,357 | $17,259 |
| Distribution lines | $695,224 | $403,534 |
| Medium voltage switchgear | $2,222 | $97,083 |
| Distribution transformers | $48,434 | $11,733 |
| Distribution substations | $347,719 | $68,663 |
| Low voltage lines | $246,210 | $215,205 |
| Other property, plant & equipment | $618,079 | $36,477 |
Other transactions totalled:
| Maintenance of System Property, Plant & Equipment | $1,178,085 | $825,275 |
| Cost of customer connections and disconnections | $0 | $0 |
4. Taxation
Surplus (Deficit) Before Taxation 1,084,547 1,500,349
Income tax expense at 33 cents in the dollar 357,901 495,115
Plus (Less) the Effect of:
| Realised capital gains | 0 | 0 |
| Non-assessable receipts | (287,300) | (216,256) |
| Non-deductible expenses | 670,687 | 536,976 |
| Unrecognised timing differences | 0 | 0 |
Taxation Charge is Represented by: 741,288 815,835
| Income Tax Liability (Benefit) in respect of the current year | 345,969 | 455,239 |
| Deferred Taxation | 395,319 | 360,596 |
| 741,288 | 815,835 |
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 136
Gazette.govt.nz —
NZ Gazette 2005, No 136
✨ LLM interpretation of page content
🏭
Network Waitaki Limited Statement of Cash Flows for the Year Ended 31 March 2005
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Cash Flows, Network Waitaki Limited