New Zealand Gazette – 2006 – No. 145

Page 4171

✨ Financial Statements

Other Related Parties

West Coast Electric Power Trust

The Trust holds 100% of the shares in Westpower.
The following transactions occurred between Westpower and the Trust:

| | 2006
$000's | 2005
$000's |
|--------------------------|----------------|----------------|
| Amounts receivable from WCET | 0 | 0 |
| Dividends paid to the Trust | 156 | 156 |

Directors Interests

| Director Name and Role | 2006
$000's | 2005
$000's |
|---------------------------------------------|----------------|----------------|
| Hugh Little - Operations Manager - Westland Milk Products Ltd |
| - Owner/Director - Stations Restaurant, Bar & Accommodation |
| Services received from the group | 590 | 266 |
| Services provided to the group | 0 | 0 |

| Sue Merriman - Managing Director - Marshall and Heaphy Ltd |
| Services received from the group | 7 | 12 |
| Services provided to the group | 0 | 0 |

| Richard Cornelius - Director - CMP Kokiri Ltd |
| Services received from the group | 25 | 0 |
| Services provided to the group | 0 | 0 |

No related party debts have been written off or forgiven during the year.

Note 11. Cash Flows

Reconciliation of Net Cash Flows from Operating Activities

| | 2006
$000's | 2005
$000's |
|--------------------------------------|----------------|----------------|
| Net surplus After Income Tax | 3,270 | 2,972 |

Plus Non Cash Items:

| | 2006
$000's | 2005
$000's |
|--------------------------------------|----------------|----------------|
| Depreciation | 2,117 | 1,953 |
| Vested Assets | (1,054) | (664) |
| | 1,063 | 1,289 |

Movements in Working Capital:

| | 2006
$000's | 2005
$000's |
|--------------------------------------|----------------|----------------|
| Increase in Debtors | (77) | (288) |
| Increase in Creditors, Accrued Interest | 847 | (491) |
| Working Capital Transferred from Other Business | 0 | 0 |
| Increase in Income Tax Refund | (251) | 222 |
| Other | 519 | (557) |
| Decrease in Gratuities Provision |
| (Gain) Loss on Disposal of Assets | 323 | 552 |

| | 323 | 552 |

| Operating Cashflow | 5,175 | 4,256 |

VUW Te Waharoa — NZ Gazette 2006, No 145

Gazette.govt.nz — NZ Gazette 2006, No 145

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✨ LLM interpretation of page content

💰 Westpower Limited Financial Notes (continued from previous page)

Domain💰 Finance & Revenue
KeywordsRelated Party Transactions, Directors Interests, Cash Flows, Financial Instruments
👱🏽 Names

Hugh Little, Operations Manager - Westland Milk Products Ltd
Sue Merriman, Managing Director - Marshall and Heaphy Ltd
Richard Cornelius, Director - CMP Kokiri Ltd

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