New Zealand Gazette – 2005 – No. 16

Page 367

✨ Financial Risk and Related Parties

18 JANUARY 2005 NEW ZEALAND GAZETTE, No. 16 367

Foreign Exchange Risk

The Line Business is not exposed to any foreign exchange risk.

Interest Rate Risk

Interest rate risk is the risk that the value of a financial instrument will fluctuate due to changed in market interest rates. The Line Business is exposed to normal fluctuations in market interest rates.

Fair Values

The estimated fair value of the Line Business’ financial instruments are represented by the carrying values.

Related Parties

The Power Company Limited “Line Business” consists of line activities conducted in The Power Company Limited and its joint venture company PowerNet Limited. The Power Company Limited “Other Business” consists of other or non-line activities conducted in The Power Company Limited and its joint venture company PowerNet Limited.

All related party transactions between The Power Company Limited Line Business and PowerNet Limited Line Business have been eliminated in the preparation of the financial statements.

During the year related party transactions took place between The Power Company Limited Line Business and The Power Company Limited Other Business. All related party transactions have been conducted on a commercial and arms length basis.

The Line Business purchased goods and services at cost, including overheads where applicable, from the Other Business. The value of the transactions, parties involved, and description of goods or services purchased were as follows:

The Power Company Limited Line Business purchased from PowerNet Limited Other Business:

	31 March 2004	31 March 2003
	$000	$000
Construction of:
> Subtransmission assets	1,676	1,405
> Zone substations	2,633	2,046
> Distribution lines and cables	700	3,940
> Medium voltage switchgear	543	150
> Distribution transformers	1,172	1,204
> Distribution substations	618	-
> Low voltage lines and cables	540	237
> Other system fixed assets	-	61

The above amounts represent the capital works programme undertaken by PowerNet Limited on behalf of The Power Company Limited.

Maintenance of assets
Consumer connections and disconnections

PowerNet Limited’s Line Business purchased from The Power Company Limited Other Business:

	31 March 2004	31 March 2003
Rent	20	16

The value of transactions owing at balance date were as follows:

The Power Company Limited Line Business owes PowerNet Limited Other Business $2,256,000 (2003: $1,320,000).

PowerNet Limited’s Line Business owes The Power Company Limited Other Business $2,000 (2003: $1,000).

VUW Te Waharoa — NZ Gazette 2005, No 16

Gazette.govt.nz — NZ Gazette 2005, No 16

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

💰 Foreign Exchange Risk Assessment

Domain💰 Finance & Revenue
KeywordsFinancial Instruments, Foreign Exchange Risk, Line Business

💰 Interest Rate Risk Assessment

Domain💰 Finance & Revenue
KeywordsFinancial Instruments, Interest Rate Risk, Market Fluctuations

💰 Fair Values of Financial Instruments

Domain💰 Finance & Revenue
KeywordsFinancial Instruments, Fair Values, Carrying Values

💰 Related Party Transactions

Domain💰 Finance & Revenue
KeywordsRelated Parties, Financial Transactions, Commercial Basis

💰 Line Business Purchases from Other Business

Domain💰 Finance & Revenue
KeywordsFinancial Transactions, Construction, Subtransmission, Substations, Switchgear, Transformers

💰 PowerNet Limited's Purchases from Other Business

Domain💰 Finance & Revenue
KeywordsFinancial Transactions, Rent, Maintenance, Consumer Connections

💰 Transactions Owing at Balance Date

Domain💰 Finance & Revenue
KeywordsFinancial Transactions, Balance Date, Outstanding Amounts

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NZ Gazette Sources

The primary sources for the issues of the NZ Gazette indexed by this project are:

New Zealand Gazette Archive, provided by Victoria University Library, copyright 2008 LexisNexis NZ Limited, Crown Copyright of New Zealand Gazette Office
- Issues from 1841-2008, including the New Munster, New Ulster, and Provincial Gazettes
New Zealand Gazettes by New Zealand Legal Information Institute (note: "NZLII is not the copyright owner in the source documents published on NZLII")
- Issues from 1913-1999
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Additional Sources

Wellington City Recollect have made available a comprehensive and excellent-quality scan of the Wellington Provincial Gazette which was used to fill in a number of issues missing from Victoria University's Gazette Archive; in particular, all 1856 issues, issues 22-34 for 1864 and issues 9-19 for 1870.
27 issues of The New Zealand Advertiser and Bay of Islands Gazette (1840) were sourced from Papers Past (public domain).
Gazette Extraordinary No. 1 (1840), held at the Alexander Turnbull Library, Wellington, New Zealand. Imaged by Luke Howison at the National Library reading rooms; PDF released into the public domain.

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Who made this?

I'm Luke Howison, a freelance web developer with an interest in genealogy. I have created several websites for genealogical research, such as NZ Ancestor Search Helper.

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