New Zealand Gazette – 2005 – No. 21

Page 471

✨ Financial Statements



Network Waitaki Limited Lines Business

Statement of Financial Performance for the Year Ended 31 March 2004

REVENUE Note 2004 2003
Operating revenue
Revenue from line/access charges 7,489,997 7,297,562
Revenue returned as Customer Discount (1,519,350) (1,221,561)
Revenue from "Other" business for services carried out by the line business 0 0
Interest on cash, bank balances and short term investments 453,586 368,473
AC loss-rental rebates 275,824 209,957
Other revenue not listed above
Capital Contributions 655,321 149,543
Use of Money Interest 0 0
Other 0 0
655,321 149,543

Total operating revenue | | 7,355,378 | 6,803,974 |

EXPENDITURE 2004 2003
Operating expenditure
Payment for transmission charges 2,201,995 2,222,878
Transfer payments to the "Other" business for:
Asset maintenance 3 913,645 629,791
Consumer disconnection/reconnection services 0 0
Meter data 0 0
Consumer-based load control services 0 0
Royalty and patent expenses 0 0
Avoided transmission charges on account of own generation 0 0
Other goods and services 493,967 686,153
Total transfer payment to the "Other" business 1,407,612 1,315,944

| Expense to entities that are not related parties for: | | | |
| Asset maintenance | | 146,722 | 143,701 |
| Consumer disconnection/reconnection services | | 0 | 0 |
| Meter data | | 0 | 0 |
| Consumer-based load control services | | 0 | 0 |
| Royalty and patent expenses | | 0 | 0 |
| Total of specified expenses to non-related parties | | 146,722 | 143,701 |

| Employee salaries, wages and redundancies | | 35,618 | 30,346 |
| Consumer billing and information system expense | | 19,408 | 19,257 |
| Depreciation on | | | |
| System Property, Plant and Equipment | | 1,623,414 | 2,156,486 |
| Other Property, Plant and Equipment | | 3,786 | 7,410 |
| Total depreciation | | 1,627,200 | 2,163,896 |

| Amortisation of: | | | |
| Goodwill | | 0 | 0 |
| Other Intangibles | | 0 | 0 |
| Total amortisation of intangibles | | 0 | 0 |

| Corporate and administration | | 195,299 | 182,540 |
| Human resource expenses | | 7,722 | 2,551 |
| Marketing/advertising | | 3,258 | 1,389 |
| Merger and acquisition expenses | | 0 | 0 |
| Takeover defence expenses | | 0 | 0 |
| Research and development expenses | | 0 | 0 |
| Consultancy and legal expenses | | 5,500 | 0 |
| Donations | | 0 | 0 |
| Directors' fees | | 74,233 | 54,731 |

| Auditors' fees | | | |
| Audit fees paid to principal auditors | | 13,043 | 13,876 |
| Audit fees paid to other auditors | | 0 | 0 |
| Fees paid for other services provided by principal and other auditors | | 0 | 0 |
| Total auditors' fees | | 13,043 | 13,876 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 21


Gazette.govt.nz — PDF NZ Gazette 2005, No 21




✨ LLM interpretation of page content

🏭 Network Waitaki Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
23 December 2004
Financial Statements, Electricity Information Disclosure Requirements, Network Waitaki Limited