New Zealand Gazette – 2005 – No. 15

Page 341

✨ Financial Statements and Valuation Reports



18 JANUARY 2005 NEW ZEALAND GAZETTE, No. 15 341

Pylon Limited and Last Tango Limited. All transactions between OtagoNet Joint Venture and its joint venture parties relate to normal trading conditions and have been conducted on an “arms length” basis.

Otago Power Services Limited has the same ownership as the OtagoNet Joint Venture, and its control is governed by the same Joint Venture Agreement. All transactions between the OtagoNet Joint Venture and Otago Power Services Limited relate to normal trading conditions and have been conducted on an “arms length” basis.

No related party debts have been written off or forgiven during the year.

Goods and Services Provided by Otago Power Services Limited were:

Twelve Months Ended Nine Months Ended
31 March 2004 31 March 2003
$000 $000
Construction of:
▶ Subtransmission assets 134 358
▶ Zone substations 246 35
▶ Distribution lines and cables 814 430
▶ Medium voltage switchgear 32 10
▶ Distribution transformers 120 88
▶ Distribution substations - -
▶ Low voltage lines and cables 117 54
▶ Other system fixed assets - -
Maintenance of assets 1,289 799
Consumer connections and disconnections - -

Capital work is subject to open tender or competitive pricing.

Maintenance work is charged in accordance with a competitively priced facilities management contract established for a fixed term.

At year end $309,520 (2003 $258,000) was owing to Otago Power Services Limited.

Goods and Services Provided to Otago Power Services Limited were:

31 March 2004 31 March 2003
$000 $000
Rent 5 5

At year end $1,000 (2003 $1,000) was owing by Otago Power Services Limited.

No related party debts have been written off or forgiven during 2004 or 2003.

  1. ANNUAL VALUATION RECONCILIATION REPORT
31 March 2004 31 March 2003
$000 $000
System fixed assets at ODV – end of the previous financial year 66,709 53,143
Add system fixed assets acquired during the year at ODV 3,040 1,945
Less system fixed assets disposed of during the year at ODV (8) (69)
Less depreciation on system fixed assets at ODV (2,474) (1,958)
Add revaluations of system fixed assets 24,105 13,648
System fixed assets at ODV – end of the financial year 91,372 66,709


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 15


Gazette.govt.nz — PDF NZ Gazette 2005, No 15




✨ LLM interpretation of page content

🏭 OtagoNet Joint Venture Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Information Disclosure, Financial Statements, OtagoNet, Accounting Policies, Property, Plant and Equipment, Intangibles, Goodwill, Amortisation

💰 Annual Valuation Reconciliation Report

💰 Finance & Revenue
Valuation, Financial Report, System Fixed Assets, ODV, Depreciation, Revaluations