✨ Financial Statements
NEW ZEALAND GAZETTE, No. 23
21 JANUARY 2005
545
UNISON NETWORKS - LINES BUSINESS
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2004
21 CAPITAL WORK IN PROGRESS
| 2004 | 2003* | |
|---|---|---|
| $000 | $000 | |
| Electrical Distribution Network | 3,338 | 7,391 |
| 3,338 | 7,391 |
22 ACCOUNTS PAYABLE AND ACCRUALS
| 2004 | 2003* | |
|---|---|---|
| $000 | $000 | |
| Trade creditors | 5,403 | 6,589 |
| Interest payable | 1,109 | 1,090 |
| 6,512 | 7,679 |
23 EVENTS SUBSEQUENT TO BALANCE DATE
On 10 November 2004 the Board of Directors passed a resolution to pay a dividend of $3,039,000 to its shareholders.
24 OTHER MATTERS
Unison is subject to the Commerce Commission’s Price Path Regime which applies to Electricity Lines Companies. Unison believe that this regime does not achieve its statutory purpose and, subsequent to balance date, commenced proceedings for a judicial review of the Commerce Commission’s regulatory regime in the High Court.
The Commerce Commission is currently undertaking an enquiry following a breach of the Price Path Regime by Unison. Irrespective of the judicial review proceedings, the Directors believe that any enquiry should find Unison’s prices to be fair and reasonable.
Comparisons for 2003 include the Hawke’s Bay area for the full year and Rotorua/Taupo for 5 months only.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 23
Gazette.govt.nz —
NZ Gazette 2005, No 23
✨ LLM interpretation of page content
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Notes to and Forming Part of the Financial Statements for Unison Networks - Lines Business
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial statements, Capital work in progress, Accounts payable, Accruals, Dividends, Regulatory regime, Judicial review, Commerce Commission, High Court