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notes to the financial Statements
for the year ended 31 March 2012
21. Investments in subsidiaries
Name
Principal Activity
Ownership Interest
2012
%
2011
%
2012
$’000
2011
$’000
Financial Corporation
Limited
Meter and relay assets
100
100
7,200
7,200
Clearwater Hydro Limited Developer and promoter
of small hydro-electricity
schemes throughout the
North Island
100
100
-
-
Scope Infrastructure Limited Transformer oil refining
services operating in
100
100
-
-
John Deere Electrical Limited Electricity contracting
business operating in Te Kuiti
100
100
1,846
1,846
Speedy’s Road Hydro
Limited
Hydro generation scheme
93.75
93.75
3,218
3,218
Matawai Hydro Limited Hydro generation scheme
100
100
6,250
6,250
18,514 18,514
The subsidiaries have been fully consolidated with intercompany transactions eliminated. All subsidiaries have
a reporting date of 31 March and are incorporated and operate in New Zealand.
Impairment
There has been no impairment of the investment in subsidiaries recognised in the 2012 financial year.
(2011: $ Nil)
22. Trade and other payables
Group
Parent
2012
2011
2012
2011
$’000
$’000
$’000
$’000
Trade creditors and accruals
2,121
2,305
1,888
2,019
Other accruals
1,613
1,635
1,259
1,430
3,734
3,940
3,147
3,449
Trade and other payables principally comprise amounts outstanding for trade purchases and on-going costs.
The Directors consider that the carrying amount of trade and other payables approximates to their fair value
because apart from some employee benefit items the amounts due will be settled within one year’s time for
their carrying value.
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