25 JANUARY 2005

NEW ZEALAND GAZETTE, No. 28

687

CENTRALINES LIMITED - LINES BUSINESS

Notes to the financial statements

For the year ended 31 March 2004

Note 17: Electricity Information Disclosure Requirements 2004 - Requirement 6 Information to be disclosed in Financial Statements: cont

11 Operating revenue
a Revenue from line/access charges 6,399 6,762
b Revenue from "Other" business for services carried out by the line
business (transfer payment) - -
c Interest on cash, bank balances and short term investments: 182 257
d AC loss-rental rebates 82 1,231
e Other revenue not listed in (a) to (d) 518 -
f Total operating revenue 7,181 8,250

12 Operating expenditure
a Payment for transmission charges 2,245 2,181
b Transfer payments to the "Other" business for:
(i) Asset maintenance 652 556
(ii) Consumer disconnection/reconnection services - -
(iii) Meter data - -
(iv) Consumer-based load control services - -
(v) Royalty and patent expenses - -
(vi) Avoided transmission charges on account of own generation 30 27
(vii) Other goods and services not listed in (i) to (vi) above - -
Total transfer payment to the "Other" business 682 583
c Expense to entities that are not related parties for
(i) Asset maintenance 207 222
(ii) Consumer disconnection/reconnection services - -
(iii) Meter data - 2
(iv) Consumer-based load control services - -
(v) Royalty and patent expenses - -
(vi) Total of specified expenses to non-related parties (sum of (i) to (v)) 207 224
d Employee salaries, wages and redundancies 145 130
e Consumer billing and information system expense - -
f Depreciation on:
(i) System fixed assets 1,038 1,013
(ii) Other assets not listed in (i) 31 3
(iii) Total depreciation 1,069 1,016
g Amortisation of:
(i) Goodwill - -
(ii) Other intangibles - -
(iii) Total amortisation of intangibles - -
h Corporate and administration 188 208
i Human resource expenses 5 8
j Marketing/advertising 35 81
k Merger and acquisition expenses - -
l Takeover defense expenses - -
m Research and development expenses 27 8
n Consultancy and legal expenses 0 -
o Donations 85 85
p Directors' fees
(i) Audit fees paid to principal auditors 50 29
(ii) Audit fees paid to other auditors 22 -
(iii) Fees paid for other services provided by principal and other auditors 1 11
(iv) Total auditors' fees 73 40
q Costs of offering credit
(i) Bad debts written off - -
(ii) Increase in estimated doubtful debts - -
(iii) Total cost of offering credit - -
r Local authority rates expense - -
s AC loss-rentals (distribution to retailers/customers) expense - -
t Rebates to consumers due to ownership interest 484 1,430
u Subvention payments - -
v Unusual expenses - -
w Other expenditure not listed in (a) to (w) 253 206
x Total operating expenditure 5,498 6,201

13 Operating surplus before interest and income tax 1,683 2,048