New Zealand Gazette – 2006 – No. 136

Page 3929

✨ Financial Statements

14 NOVEMBER 2006 NEW ZEALAND GAZETTE, No. 136 3929

WAIPA NETWORKS LIMITED - LINES BUSINESS

13 SEGMENTAL REPORTING

Waipa Networks operates predominantly in one industry, distribution of electricity. All operations are carried out within New Zealand, and are therefore within one geographical segment for reporting purposes.

14 RELATED PARTIES

At balance date, the Waipa Networks Trust held 100 per cent of the shares in Waipa Networks Limited

All related party transactions in the accounts of Waipa Networks have been conducted on a commercial and arms length basis.

The contracting department of Waipa Networks has provided the following services at cost, including overheads, for the year ended 31 March 2006

	2006	2005
Construction of distribution lines & cables	1,276,026	919,640
Construction of medium voltage switchgear	679,939	544,466
Construction of distribution transformers	728,884	557,739
Construction of distribution substations	354,416	235,251
Construction of low voltage lines and cables	317,808	262,153
Construction of other system fixed assets	157,130	206,485
Maintenance of assets	1,689,973	1,299,478
Consumer connections and reconnections	8,533	6,636
Other services	46,244	50,877

The following transactions occurred between the line business and other business.

	2006	2005
Interest paid to Other	816,000	796,000

The line business has a loan from the other business refer note 10. The amount outstanding at balance date was $9,000,000 (2005 $8,000,000).

At year end there were no other outstanding balances for related parties (2005 Nil). No related party debt has been written off or forgiven during 2006 or 2005.

No provision has been made in the accounts for payment of a final dividend to the Waipa Networks Trust. (2005 Nil). No interim dividends have been paid (2005 Nil).

VUW Te Waharoa — NZ Gazette 2006, No 136

Gazette.govt.nz — NZ Gazette 2006, No 136

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✨ LLM interpretation of page content

🏭 Notes to Financial Statements of Waipa Networks Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated24 October 2006
KeywordsSegmental Reporting, Related Parties, Financial Transactions, Waipa Networks Limited

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