✨ Financial Statements
HORIZON ENERGY DISTRIBUTION LIMITED - Lines Business
NOTES TO THE FINANCIAL STATEMENTS
| Lines Business 2007 | Lines Business 2006 | |
|---|---|---|
| $000 | $000 |
2. OPERATING SURPLUS BEFORE TAXATION ITEMS
Operating revenue includes the following items:
Revenue Disclosure Items:
- Revenue from Line / Access Charges: 23,935 | 23,682
- Gain on Sale of Fixed Assets: - | 0
- AC Loss-rental Rebates: 264 | 335
- Other Operating Revenue: 1,308 | 838
Total operating revenue: 25,507 | 24,855
Operating expenditure comprises the following items:
- Payment for Transmission Charges: 9,056 | 7,899
- Expenses to Non-related Entities for Asset Maintenance: 1,969 | 1,258
- Services / Total Specified Expenses to Non-related Parties: -
- AC Loss Rental Rebates Expense: 169 | 214
- Employee Salaries, Wages and Redundancies: 1,474 | 1,145
- Increase in Estimated Doubtful Debts: (5) | 11
- Bad Debts Written Off: - | -
- Total Cost of Offering Credit: (5) | 11
- Directors' Fees / Remuneration: 123 | 120
- Rental and Operating Lease Obligations (refer note 14): 87 | 82
- Depreciation on System Fixed Assets: 2,812 | 2,779
- Depreciation on Other Fixed Assets: 215 | 204
Total Depreciation: 3,027 | 2,983
- Local Authorities Rates Expense: 124 | 122
- Other Expenditure: 332 | (1,120)
- Auditors Remuneration (Note 15): 149 | 90
- Consumer Billing and Information System: 115 | 148
- Corporate and Administration Expenses: 326 | 405
- Marketing / Advertising: 73 | 5
- Human Resource Expenses: 180 | 80
- Research and Development Expenses: 27 | 18
- Consultancy and Legal Expenses: 926 | 533
Total Operating Expenditure: 18,152 | 13,993
☐ The comparative figure for 2006 includes the reduction in expenses of $1.43m relating to the resolution of Arbitration Proceedings as described in Note 22 of the Company's 2005-06 Information for Disclosure (Regulatory Accounts).
☑ The comparative figure for 2006 includes the reduction Consultancy and Legal Expenses of $0.20m relating to the resolution of Arbitration Proceeding as described in Note 22 of the Company’s 2005-06 Regulatory Accounts.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 34
Gazette.govt.nz —
NZ Gazette 2008, No 34
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Financial Statements for Horizon Energy Distribution Limited
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