✨ Financial Statements and Related Party Transactions
4390 NEW ZEALAND GAZETTE, No. 182 9 DECEMBER 2009
2008
Interest rate risk
Financial assets
Cash and cash equivalents
Other financial assets
Financial liabilities
Borrowings
- bank overdraft
- net loans from related parties
| Distribution | ~100bps | Retail | ~100bps | |
|---|---|---|---|---|
| Profit $ | Other Equity $ | Profit $ | Other Equity $ | |
| --------------------- | --------------- | ------------- | ----------------- | --------------- |
| $ 24,120 | - | |||
| Total sensitivity to interest rate risk | $ 58,915 | $ - | $ 24,120 | $ - |
11. Related Party Transactions
The following transactions occurred during the period with Related Parties:
Energy Direct NZ Limited and GasNet Limited are wholly owned subsidiaries of Wanganui Gas Limited.
Wanganui Gas Ltd is a wholly owned subsidiary of Wanganui District Council Holdings Ltd (WDCHL), a Council Controlled Organisation of Wanganui District Council.
| Distribution 2009 $ | Distribution 2008 $ | Retail 2009 $ | Retail 2008 $ | |
|---|---|---|---|---|
| Wanganui District Council (rent, rates IT services, other) | $ 130,607 | $ 162,090 | $ 117,287 | $ 87,763 |
| Subvention Payment | $ - | $ (824,173) | $ - | $ (57,420) |
| Total | $ 130,607 | $ (662,083) | $ 117,287 | $ 30,343 |
| Distribution 2009 $ | Distribution 2008 $ | Retail 2009 $ | Retail 2008 $ | |
|---|---|---|---|---|
| Wanganui Gas Limited | ||||
| Services provided by Wanganui Gas Limited | $ 387,179 | $ 100 | $ 474,297 | - |
| Shares issued to Wanganui Gas Limited | $ - | $ - | ||
| Net loans / (advances) with Wanganui Gas Limited | $ 3,075,896 | $ - | $ 9,016,527 | - |
| Total | $ 3,463,175 | $ - | $ 9,690,759 | $ - |
| | | | | |
| Mr Doyle is a principal of Doyle & Associates | | | |
| Doyle & Associates | Consulting | $ - | $ - | $ 4,861 | $ 3,726 | $ 4,861 |
| Mr Warburton is a beneficiary of the Four P International Trust |
| Four P International Trust | Consulting | $ - | $ - | $ 3,713 | $ - | $ 3,713 |
| Mr Reidy is Chief Executive, Global Consulting Services for Downer EDI Limited |
| Downer EDI Works Limited | Drain laying | $ 140,832 | $ 107,935 | $ - | $ - |
| Employers and Manufacturers Association (Central) Inc (2009 Nil) | $ - | $ 2,351 | $ - | $ 2,351 |
Amounts Owed to Related Parties at Balance date were:
| Wanganui District Council | $ 13,807 | $ 31,288 | $ 11,588 | $ (1,434) |
| Wanganui Gas Limited | $ 62,022 | $ - | $ 112,809 | $ - |
| Energy Direct NZ Limited | $ 11,088 | $ - | $ - | |
| GasNet Limited | $ - | $ 3,000 | $ 428,490 | $ 3,000 |
| Doyle & Associates | $ - | $ - | $ - | $ - |
| Four P International Trust | $ - | $ 3,713 | $ - | $ 3,713 |
| Downer EDI Works Limited | $ (6,835) | $ 3,034 | $ - | $ - |
All Transactions were conducted on normal commercial terms.
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NZ Gazette 2009, No 182
✨ LLM interpretation of page content
💰
Notes to the Financial Statements
(continued from previous page)
💰 Finance & Revenue3 December 2009
Financial liabilities, Creditors, Borrowings, Credit risk, Bank guarantees, Interest rate risk, Currency risk, Liquidity risk, Maturity analysis, Sensitivity analysis
- Doyle (Mr), Principal of Doyle & Associates
- Warburton (Mr), Beneficiary of the Four P International Trust
- Reidy (Mr), Chief Executive, Global Consulting Services for Downer EDI Limited