New Zealand Gazette – 2008 – No. 33

Page 761

✨ Financial Statements Notes

22 FEBRUARY 2008 NEW ZEALAND GAZETTE, No. 33 761

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:

| | 2007
$000's | 2006
$000's |
|---------------------|----------------|----------------|
| Amounts receivable from WCEPT | 0 | 0 |
| Dividends paid to the Trust | 156 | 156 |

Directors Interests

| Director | 2007
$000's | 2006
$000's |
|----------------------------------|----------------|----------------|
| Hugh Little - Operations Manager - Westland Milk Products Ltd

Owner/Director - Stations Restaurant, Bar & Accommodation |
| Services received from the group | 62 | 590 |
| Services provided to the group | 0 | 0 |

| Sue Merriman - Managing Director - Marshall and Heaphy Ltd |
| Services received from the group | 3 | 7 |
| Services provided to the group | 0 | 0 |

| Richard Cornelius - Director - CMP Kokiri Ltd |
| Services received from the group | 75 | 25 |
| 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

| | 2007
$000's | 2006
$000's |
|-----------------------------------|----------------|----------------|
| Net surplus After Income Tax | 11,343 | 3,270 |

| Plus Non Cash Items: | | |
| Depreciation | 2,334 | 2,117 |
| Vested Assets | (942) | (1,054) |
| | 1,392 | 1,063 |

| Movements in Working Capital: | | |
| Increase in Debtors | (414) | (77) |
| Decrease in Creditors, Accrued Interest | 1,168 | 847 |
| Increase in Income Tax Refund | (181) | (251) |
| Other | 573 | 519 |
| Decrease in Gratuities Provision |
(Gain) Loss on Disposal of Assets | 301 | 323 |

| Operating Cashflow | 13,609 | 5,175 |

VUW Te Waharoa — NZ Gazette 2008, No 33

Gazette.govt.nz — NZ Gazette 2008, No 33

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Westpower Limited Financial Statements Notes (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsRelated Parties, Transactions, Directors Interests, Cash Flows, Westpower Limited, West Coast Electric Power Trust
👱🏽 Names

Hugh Little, Director with financial interests
Sue Merriman, Director with financial interests
Richard Cornelius, Director with financial interests

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