✨ Financial Statements
600 NEW ZEALAND GAZETTE, No. 27 18 FEBRUARY 2008
16. RELATED PARTIES
16.1 Marlborough Electric Power Trust
The Trustees of the Marlborough Electric Power Trust hold all of the Company’s shares. The Company may from time to time advance funds of a short term nature to the Trust; the Company also pays dividends to the Trust.
Dividends Paid to the Trust 250 150
Administrative Costs Charged to the Trust - -
Amounts Owed by the Trust to the Company as at 31 March - -
16.2 Parties Associated with Directors
The company undertook two minor transactions with a party associated with a director of Marlborough Lines Limited. The transactions involved the provision of legal services. The transaction was at commercial rates.
D W R Dew (Dew and Company) <1 <1
16.3 Marlborough Lines’ Contracting business
The contracting division of Marlborough Lines Limited has provided the following services at commercial rates:
Construction of sub transmission assets 797 91
Construction of zone substations 1,348 44
Construction of distribution lines and cables 3,542 575
Construction of medium voltage switchgear 90 28
Construction of distribution substations 129 240
Construction of low voltage reticulation 129 136
Maintenance of assets 2,311 1,406
Consumer Connections & Disconnections - -
Other services 788 486
The Contracting Division of Marlborough Lines Limited has paid for the following:
Other services - 4
At year end there were no outstanding balances (2006: $nil)
17. EVENTS SUBSEQUENT TO BALANCE DATE
The May 2007 New Zealand Government budget signalled changes to the company tax rate, providing for a rate of 30 cents in the dollar from 1 April 2007. This will reduce the levels of deferred tax liability and deferred tax benefit provided on timing differences in the Company’s tax reconciliation.
The Directors are not aware of any other matter or circumstances since the end of the financial year not otherwise dealt with in these financial statements that has or may significantly affect the operations of the Marlborough Lines Parent or Group operations.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 27
Gazette.govt.nz —
NZ Gazette 2008, No 27
✨ LLM interpretation of page content
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Marlborough Lines Limited Financial Statements
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Related Parties, Dividends, Administrative Costs, Contracting Services, Tax Rate Changes
- D W R Dew, Associated with director, legal services