✨ Financial Statements
HORIZON ENERGY DISTRIBUTION LIMITED - Lines Business
NOTES TO THE FINANCIAL STATEMENTS
| Lines Business 2007 $000 | Lines Business 2006 $000 | |
|---|---|---|
| 11 TERM LOANS |
Term loans fall due for repayment in the following periods:
Within One Year | - | -
Within One to Two Years | - | 28,470
Within Two to Three Years | 15,000 | -
Within Three to Four Years | - | -
Within Four to Five Years | 11,400 | -
Balance as at 31 March | 26,400 | 28,470
Disclosed in Balance Sheet as:
Current Portion of Term Loans | - | -
Term Loans | 26,400 | 28,470
Balance as at 31 March | 26,400 | 28,470
All term loans are unsecured and are subject to negative pledge undertakings. The weighted average interest rate, inclusive of margins on term loans is 7.13% (2005 7.26%), taking into account the hedging undertaken by the Company as disclosed in Note 18. For that portion of term loans not hedged the loan is at the floating 90 day bank bill rate plus margin.
The Company currently has $40 million rolling loan facilities confirmed at the following levels:
| Facility Maximum $000 | Expiry Date |
|---|---|
| 10,000 | 22-Nov-08 |
| 15,000 | 23-Nov-09 |
| 15,000 | 23-Nov-11 |
12 DISTRIBUTION TO OWNERS
Dividends Paid Attributed to Lines Business | 2,529 | 4,859
Dividends Paid attributable to "Other" Business | 1,844 | 2,014
Total Dividends Paid by Horizon Energy Distribution Limited | 4,373 | 6,873
Dividends paid to "Other" business in 2006 includes a special dividend relating to a one off tax benefit that arose from the sale of the Company’s interest in the Kapuni Cogeneration Joint Venture in 1999.
13 IMPUTATION CREDIT ACCOUNT
| Group 2007 $000 | Group 2006 $000 | |
|---|---|---|
| Opening Balance | 10 | 3 |
| Plus: Income Tax Paid | 3,445 | 2,900 |
| Less: Imputation Credits attached to dividends paid for "Other" business | (908) | (500) |
| Less: Imputation Credits attached to dividends paid for Line Business | (1,246) | (2,393) |
Balance as at 31 March | 1,301 | 10
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 34
Gazette.govt.nz —
NZ Gazette 2008, No 34
✨ LLM interpretation of page content
🏭
Financial Statements for Horizon Energy Distribution Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Term Loans, Dividends, Imputation Credits, Horizon Energy Distribution Limited