✨ Financial Statements and Performance Measures
4614 NEW ZEALAND GAZETTE, No. 158 29 NOVEMBER 2006
Notes to the financial statements (continued)
For the year ended 31 March 2006
17 Transactions with related parties
EASTLAND COMMUNITY TRUST
Eastland Network Limited, Eastland Port Limited and Eastland Infrastructure Limited are related parties being 100% owned by Eastland Community Trust.
Other than payment of interest on Capital Notes and the payment of dividends there have been no significant transactions between company and the trust during the financial year.
EASTLAND INFRASTRUCTURE LIMITED
Eastland Infrastructure Limited provided management services to Eastland Network Limited for which management fees were paid to Eastland Infrastructure Limited. These fees amount to $2.890 million. The portion relating to the "Non-Lines Business" has been excluded from these financial statements.
EASTLAND PORT LIMITED
Eastland Network Limited leases land from Eastland Port Limited for a substation. Lease payments are $280 per annum.
18 Financial and efficiency performance measures under Requirement 14 of the Commerce Commission’s Electricity Information Disclosure Requirements 2004.
| 2006 | 2005 | 2004 | 2003 | |
|---|---|---|---|---|
| 1) Financial performance | ||||
| measures | ||||
| a) Return on funds | 10.9 | 9.6 | 9.7 | 12.9 |
| b) Return on Equity | 10.7 | 8.8 | 8.8 | 15.0 |
| c) Return on Investment | 7.5 | 6.4 | 23.2 | 9.3 |
| 2) Efficiency performance | | | | |
| measures | | | | |
| a) Direct line costs per | $647 | $675 | $744 | $646 |
| Kilometre | | | | |
| b) Indirect line costs per | $77 | $70 | $61 | $67 |
| electricity consumer | | | | |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 158
Gazette.govt.nz —
NZ Gazette 2006, No 158
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Notes to the Financial Statements for Eastland Network Limited
(continued from previous page)
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