← Page 1592

New Zealand Gazette – 2008 – No. 56

Page 1593

Page 1594 →

✨ Financial Statements

THE LINES COMPANY LIMITED - LINES BUSINESS ACTIVITY

2007
$000's

2006
$000's

NOTE 17 : RELATED PARTY TRANSACTIONS

a) The period covered in these statements are 1st April 2006 to 31st March 2007.

b) There are no outstanding balances and no related party debts have been written off.

c) There are two related parties to the Electricity Lines Business of The Lines Company Limited, being the contracting division and the revenue collection division. Details of transactions are given below.

Contracting division of The Lines Company Limited

Maintenance work is recorded on the basis of material at cost plus 15% and labour & plant at $75 per hour. Capital expenditure is recorded at ODV values.

Construction of the following types of assets were undertaken for the lines business.

	2007	2006
Construction of subtransmission assets	-	33
Construction of zone substations	374	332
Construction of distribution lines and cables	3,251	3,628
Construction of medium voltage switchgear	883	596
Construction of distribution substations	1,228	823
Construction of low voltage reticulation	184	186
Construction of other assets	185	97
Consumer connections & disconnections	22	24
Maintenance of distribution system	1,430	1,492
	7,557	7,077

Revenue collection division of The Lines Company Limited

From 1 October 2005, billing and revenue collection is carried out for the Electricity Lines Business by the revenue collection division within The Lines Company Limited. Prior to this date revenue was collected on behalf of The Lines Company by energy retailers, who operated on the network.

For this function a flat monthly fee of $30,000 is charged to the Electricity Lines Business. This quantum of fee is based on commercial arms length basis, as evidenced by a tendering process for this function, which occurred prior to commencement of direct customer billing.

| Billing and collection charges | 360 | 180 |
| | | |

Interest and dividends paid to Waitomo Energy Services Customer Trust

During the year company paid interest (on subordinated debt) and dividends, of the following amounts to its controlling entity, the Waitomo Energy Services Customer Trust.

	2007	2006
Interest paid	76	68
Dividends paid	99	197
	175	266

Interest and dividends paid to King Country Electric Power Trust

King Country Electric Power Trust has significant influence over the Group. The following transactions occurred during the year.

	2007	2006
Dividends paid	33	66

VUW Te Waharoa — NZ Gazette 2008, No 56

Gazette.govt.nz — NZ Gazette 2008, No 56

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

💰 Notes to the Financial Statements for The Lines Company Limited (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Instruments, Interest Swap Contracts, Employee Entitlements, ODV Reconciliation, Share Capital, Related Party Transactions, Contracting Division, Revenue Collection Division, Interest and Dividends

As the Gazette has been published for more than 185 years, copyright status depends on the publication date of each issue:

1840–1925 (Public Domain): Issues of the New Zealand Gazette and Provincial Gazettes from this period are in the public domain, as the term of Crown copyright (100 years) has expired. Mechanical reproductions (e.g., scanned PDFs) of these public domain documents do not attract new copyright.
1926–1999 (Crown Copyright): Issues from this period remain subject to Crown copyright. Usage of these issues in this project is "Fair Dealing" for research purposes and consistent with the spirit of the open-access principles championed by NZGOAL, ie, "The default licensing position under ... NZGOAL is the Creative Commons Attribution 4.0 International licence ... [t]o the greatest extent possible, agencies should apply this licence to copyright material on their websites"
2000–Present (CC-BY 3.0 NZ): Gazette issues published on gazette.govt.nz are Crown copyright but are explicitly licensed by the Department of Internal Affairs under the Creative Commons Attribution 3.0 New Zealand licence (CC-BY 3.0 NZ). This project redistributes this content in accordance with those terms.

Nothing in this project is intended to infringe copyright, trademark law or personal privacy. Please contact me immediately if you have any concerns.

Third-Party Content

Where third-party content (e.g., notices submitted by external organisations) is identified within the Gazette, users should satisfy themselves regarding the copyright status of that specific content, as it may be subject to different ownership terms than the Gazette itself.

Sources and Attribution

NZ Gazette Sources

The primary sources for the issues of the NZ Gazette indexed by this project are:

New Zealand Gazette Archive, provided by Victoria University Library, copyright 2008 LexisNexis NZ Limited, Crown Copyright of New Zealand Gazette Office
- Issues from 1841-2008, including the New Munster, New Ulster, and Provincial Gazettes
New Zealand Gazettes by New Zealand Legal Information Institute (note: "NZLII is not the copyright owner in the source documents published on NZLII")
- Issues from 1913-1999
Gazette.govt.nz, Crown copyright / licensed by the Department of Internal Affairs under CC-BY 3.0 NZ
- Issues from 2000-2017

Additional Sources

Wellington City Recollect have made available a comprehensive and excellent-quality scan of the Wellington Provincial Gazette which was used to fill in a number of issues missing from Victoria University's Gazette Archive; in particular, all 1856 issues, issues 22-34 for 1864 and issues 9-19 for 1870.
27 issues of The New Zealand Advertiser and Bay of Islands Gazette (1840) were sourced from Papers Past (public domain).
Gazette Extraordinary No. 1 (1840), held at the Alexander Turnbull Library, Wellington, New Zealand. Imaged by Luke Howison at the National Library reading rooms; PDF released into the public domain.

PDF Icon

The PDF PDF Icon was made by Good Ware, CC BY-SA 4.0.

Masthead

The logo in the header is an edited version of “Winning Coat of Arms Competition Entry, 1908” by Archives New Zealand, CC BY 2.0 (found via Wikipedia).

Who made this?

I'm Luke Howison, a freelance web developer with an interest in genealogy. I have created several websites for genealogical research, such as NZ Ancestor Search Helper.

New Zealand Gazette Index