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New Zealand Gazette – 2008 – No. 185

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✨ Financial Statements

NEW ZEALAND GAZETTE, No. 185

28 NOVEMBER 2008

NGC HOLDINGS LIMITED

GAS RETAILING ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2008

15. TRANSACTIONS WITH RELATED PARTIES

NATURE OF THE TRANSACTION	RELATED PARTY	2008
		$000
Sold gas based on standard terms and conditions.	Kapuni Energy Joint Venture	6,126
		6,381
Sold fuel gas based on standard terms and conditions.	Kapuni Gas Treatment Plant	1,620
		3,445
Sold gas for use in the compressors and line heaters based on
standard terms and conditions.	Gas Transmission Activities	3,280
		3,456
Purchased gas based on actual amounts billed and notional revenue
charged to gas retailing activities based on gas wholesaler’s cost
of gas.	Gas Wholesaling Activities	249,657
		277,157
Purchased gas transmission services based on actual revenue charged
and notional revenue charged to as retailing activities.	Gas Transmission Activities	32,720
		30,885
Purchased gas processing services based on notional revenue charged
to gas retailing activities.	Kapuni Energy Joint Venture and
	Kapuni Gas Treatment Plant	8,845
		7,615
Purchased distribution services based on standard terms and
conditions.	Gas Distribution Activities	3,780
		3,640
Purchased metering services based on standard terms and conditions.	NGC Metering Limited	589
		567
Purchased distribution services based on standard terms and
conditions.	Vector Limited	4,721
		4,583
Loan advance.	Vector Limited	3,984
		1,044

16. INTERNATIONAL FINANCIAL REPORTING STANDARDS

A detailed disclosure on the explanation of transition to IFRSs of the Vector group’s New Zealand equivalents to International Financial Reporting Standards (NZ IFRS) is available under Note 32 of the Vector group’s annual report for the year ended 30 June 2008. The restatement of comparatives under IFRSs has no impact on these financial statements.

Gazette.govt.nz — NZ Gazette 2008, No 185

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✨ LLM interpretation of page content

🏭 NGC Holdings Limited Balance Sheet for Gas Retailing Activities (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial statements, Related party transactions, Gas retailing, IFRS transition

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