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New Zealand Gazette – 2008 – No. 35

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✨ Financial Statements

820

NEW ZEALAND GAZETTE, No. 35

25 FEBRUARY 2008

11 COMMITMENTS

Estimated capital expenditure contracted for at balance date is $206,000 (2006: $444,672)

The company entered into a two year lease agreement in February 2007 for rental premise to house the Network Line Store. Lease payments not later than 1 year $123,154 (2006: Nil). Lease payments later than 1 year and not later than 2 years $102,628 (2006: Nil)

12 CONTINGENT LIABILITIES

As at 31 March 2007 there were no material contingent liabilities (2006 Nil)

13 SEGMENT INFORMATION

The predominant activity of Electricity Ashburton Limited is the distribution of electricity. All operations are conducted in New Zealand.

14 RELATED PARTIES

Electricity Ashburton Limited has a contracting division that provides services to the Lines Business. The services provided are for the maintenance of the network and capital construction of System Assets. The services are provided in an ongoing capacity. The standard charge for these services are:

Labour $37.00 per hour
External Purchase Charged at cost
Transport (light truck) $14.22 per hour
Transport (heavy truck) $21 to $42 per hour

The contracting division of Electricity Ashburton Limited has provided the following services at cost, including overheads, for the period 1 April 2006 to 31 March 2007:

	2007	2006
Construction of distribution
lines & cables	6,610,305	3,790,386
Construction of medium voltage
switchgear	0	0
Construction of distribution
transformers	1,735,739	2,450,853
Construction of distribution
substations	1,017,748	2,710,523
Construction of low voltage
lines and cables	550,671	117,228
Construction of other system
fixed assets	0	0
Maintenance of assets	1,703,531	1,316,750
Consumer connections and
reconnections	0	0
Other services	0	0

No amounts have been forgiven or written off, and no amounts remain outstanding at the end of the period.

VUW Te Waharoa — NZ Gazette 2008, No 35

Gazette.govt.nz — NZ Gazette 2008, No 35

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✨ LLM interpretation of page content

🏭 Electricity Ashburton Ltd Financial Statements Notes (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated31 March 2007
KeywordsFinancial Statements, Commitments, Contingent Liabilities, Segment Information, Related Parties, Labour Costs, Construction Costs, Maintenance Costs

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