New Zealand Gazette – 2005 – No. 23

Page 548

✨ Financial Statements



NEW ZEALAND GAZETTE, No. 23

21 JANUARY 2005

UNION NETWORKS - LINES BUSINESS

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

For The Year Ended 31 March 2004

25 MANDATORY SPECIFIC DISCLOSURE...continued

The following information is required to be disclosed in the financial statements under requirement 6 of the Commerce Act Electricity Information Disclosure Requirements 2004.

| | 2004
| | $000 | 2003*
| | | $000 |
|---------------------------|-------|-------|
| (c) Auditors' fees: | | |
| (i) Audit fees paid to principal auditors: | 27 | 41 |
| (ii) Audit fees paid to other auditors: | - | - |
| (iii) Fees paid for other services provided by principal and other auditors: | - | - |
| (iv) Total auditors' fees: | 27 | 41 |
|
| (f) Costs of offering credit: | | |
| (i) Bad debts written off: | 25 | 145 |
| (ii) Increase in estimated doubtful debts: | (60) | 4 |
| (iii) Total cost of offering credit: | (35) | 149 |
|
| (s) Local authority rates expense: | 104 | 83 |
| (t) AC loss-rentals (distribution to retailers/customers) expense: | 2,634 | 4,091 |
| (u) Rebates to consumers due to ownership interest: | 35 | 3,461 |
| (v) Subvention payments: | - | - |
| (w) Unusual expenses: | - | - |
| (x) Other expenditure not listed in (a) to (w) | 796 | 276 |
| Total operating expenditure | 3,571 | 7,913 |
| | | |
| Total operating expenditure | 52,393 | 43,380 |
|
| Operating surplus before interest and income tax | 23,064 | 9,526 |

Interest expense

| | 2004
| | $000 | 2003*
| | | $000 |
|---------------------------|-------|-------|
| (a) Interest expense on borrowings: | 13,701 | 5,850 |
| (b) Financing charges related to financial leases: | - | - |
| (c) Other interest expense: | - | - |
| Total interest expense | 13,701 | 5,850 |
|
| Operating surplus before income tax | 9,363 | 3,676 |
|
| Income tax | (1,614) | (444) |
|
| Net Surplus after Tax | 7,749 | 3,232 |

*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 — PDF NZ Gazette 2005, No 23


Gazette.govt.nz — PDF NZ Gazette 2005, No 23




✨ LLM interpretation of page content

🏭 Notes to and Forming Part of the Financial Statements for Unison Networks - Lines Business (continued from previous page)

🏭 Trade, Customs & Industry
Financial statements, Operating revenue, Operating expenditure, Depreciation, Amortisation, Corporate administration