1
2006
$000's
2005
$000's
16. Commitments
Capital commitments
225
2
Non-cancellable operating lease commitments
Due within one year
1,222
1,22
Due within one to two years
723
4
Due within two to five years
1,176
4
Total lease commitment
3,121
2,0
17. Contingent assets and liabilities
The company has arranged with Bank of New Zealand for the issue of performance related bonds in favour of:
Local Authorities
3,220
3,032
Transit New Zealand
217
182
Others
362
48
3,799
3,22
The directors know of no reason why these contingent liabilities would be required to be recognised. There are no
other contingent assets or liabilities as at balance date.
18. Related party transactions
Christchurch City Holdings Limited, a wholly-owned subsidiary of the Christchurch City Council, owns 100% of the
issued share capital of City Care Limited. All transactions with the Christchurch City Council have been conducted
on normal commercial terms.
During the year the company engaged the services of Option One Limited to furnish professional advice to the
company. Director Tony King is a director and majority shareholder of Option One Limited. The total cost of services
rendered was $11, (200: Nil)
During the year the company entered into various transactions with the Christchurch City Council and its subsidiary
companies. The value of transactions and balances with the Christchurch City Council (CCC) and its related entities
were as follows:
Services provided to CCC and their subsidiaries
58,659
42,4
Goods and services received from CCC and their subsidiaries
984
2,014
Rent and rates paid to CCC and their subsidaries
661
3
Accounts receivable from CCC and their subsidaries
7,024
,304
Accounts payable to CCC and subsidiaries
81
11
During the year the company made a subvention payment totaling $44,2 (200: $83,4) to the Christchurch
City Council.
Refer to note 1 for details of the sale of the refuse station business to the Christchurch City Council effective 1 July 200.
19. Segmental information
City Care Limited operates predominantly in the maintenance of infrastructure and amenity assets and provision of
associated asset management services. All operations are conducted within New Zealand.
