✨ Financial Statements
3512
NEW ZEALAND GAZETTE, No. 134
30 NOVEMBER 2007
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
NOTES TO THE FINANCIAL STATEMENTS continued
FOR THE YEAR ENDED 30 JUNE 2007
21. SUBSIDIARIES OF TRANSPOWER GROUP
The subsidiaries that make up the lines business of the Transpower Group are as follows:
| Subsidiaries | 2007 Holding | 2006 Holding |
|---|---|---|
| Fighting Bay Finance Limited | 100% | 100% |
| Haywards Limited | 100% | 100% |
| Oteranga Bay Limited | 100% | 100% |
| Transpower Finance Limited | 100% | 100% |
| TB and T Limited | 100% | 100% |
| Aratatia Holdings Limited | 100% | 100% |
| Benmore Finance | 100% | 100% |
| Bunnythorpe Holdings | 100% | 100% |
| Benmore Trust | 100% | 100% |
| Halfway Bush Finance Limited | 100% | 100% |
The subsidiaries that make up the "Other Transpower Businesses" are as follows:
| Subsidiaries | 2007 Holding | 2006 Holding |
|---|---|---|
| Energy Market Services Limited | 100% | 100% |
| Risk Reinsurance Limited | 100% | 100% |
| Omaka Training Limited (non-trading) | 100% | 100% |
| Transpower Holdings Limited | 100% | - |
All subsidiary entities have a balance date of 30 June.
Risk Reinsurance Limited is incorporated in the Cayman Islands. All other subsidiary entities are incorporated in New Zealand.
All subsidiaries are direct subsidiaries of Transpower except for:
- Oteranga Bay Limited and Haywards Limited which are wholly owned by Fighting Bay Finance Limited.
- Benmore Finance in which Bunnythorpe Holdings has a 4% share.
- Benmore Trust which is wholly owned by Aratatia Holdings Limited and Benmore Finance.
The principal activity of the trading subsidiaries (excluding Energy Market Services Limited ("EMS") and Risk Reinsurance) is financing.
EMS was established in 1998 as a separate legal entity to provide reconciliation and metering services for both MARIA and NZEM parties.
Risk Reinsurance was established in 2001 to provide insurance services to the Transpower Group.
22. RELATED PARTY TRANSACTIONS
Transpower conducts transactions with other State-Owned Enterprises and Government Departments. These transactions are undertaken on a commercial and arm's length basis and it is considered that these do not fall within the intended scope of related party disclosure.
The subsidiaries identified in Note 21 are related parties of Transpower. Transactions with these parties are disclosed as "Other Business" transactions in Note 2 and 3.
All of these transactions are conducted on a commercial basis. No related party debts have been written off or forgiven during the year.
23. OTHER ITEMS REQUIRING SPECIFIC DISCLOSURE UNDER THE ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 2004
| 2007 | 2006 | |
|---|---|---|
| $000 | $000 | |
| Assets | ||
| Goodwill | 0 | 0 |
| Total intangible assets | 0 | 0 |
| Total tangible assets | 2,942,186 | 2,797,244 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2007, No 134
Gazette.govt.nz —
NZ Gazette 2007, No 134
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Transpower New Zealand Limited Lines Business Notes to the Financial Statements
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🏭 Trade, Customs & IndustrySubsidiaries, Holdings, Financial Statements, Transpower Group, Lines Business