✨ Financial Statements
Eastland Network Limited – Electricity Lines Business
Notes to the financial statements (continued)
For the year ended 31 March 2007
| 2007 | 2006 | |
|---|---|---|
| $'000 | $'000 | |
| (h) Corporate and administration: | 504 | 380 |
| (i) Human resource expenses: | 65 | 144 |
| (j) Marketing/advertising: | 24 | 22 |
| (k) Merger and acquisition expenses: | – | – |
| (l) Takeover defence expenses: | – | – |
| (m) Research and development expenses: | – | – |
| (n) Consultancy and legal expenses: | 194 | 174 |
| (o) Donations: | – | – |
| (p) Directors' fees: | 160 | 167 |
| (q) Auditors' fees: | ||
| (i) Audit fees paid to principal auditors: | 45 | 41 |
| (ii) Audit fees paid to other auditors: | – | – |
| (iii) Fees paid for other services provided by principal and other auditors | – | – |
| (iv) Total auditors' fees: | 45 | 41 |
| (r) Costs of offering credit: | ||
| (i) Bad debts written off: | 66 | 63 |
| (ii) Increase in estimated doubtful debts: | – | – |
| (iii) Total cost of offering credit: | 66 | 63 |
| (s) Local authority rates expense: | 125 | 97 |
| (t) AC loss-rentals (distribution to retailers/customers) expense: | 1,290 | 1,048 |
| (u) Rebates to consumers due to ownership interest: | – | – |
| (v) Subvention payments: | – | – |
| (w) Unusual expenses: | – | – |
| (x) Other expenditure not listed in (a) to (w) | 218 | 207 |
| Total operating expenditure | 15,409 | 17,104 |
In accordance with the Basis of Preparation, as noted in the Standard of Significant Accounting Policies, the expenses above include the expenses of the Electricity Lines Business excluding the management fee line item and the detailed breakdown of the management fee extracted from Eastland Infrastructure Limited’s financial information.
4 Interest expense
| 2007 | 2006 | |
|---|---|---|
| $'000 | $'000 | |
| (a) Interest expense on borrowings | 3,220 | 3,499 |
| (b) Financing charges related to finance leases | – | – |
| (c) Other interest expense | – | – |
| (d) Total interest expense | 3,220 | 3,499 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 55
Gazette.govt.nz —
NZ Gazette 2008, No 55
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Eastland Network Limited – Electricity Lines Business
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