Port Nelson Annual Report 2012 (pdf)
Port Nelson Annual Report 2012 (pdf) Port Nelson Annual Report 2012 (pdf)
statutory information to the shareholders, on the affairs of port nelson limited for the year ended 30 june 2012 statutory information directors’ loans There were no loans by Port Nelson to Directors. shareholding by directors No Directors hold shares in Port Nelson. use of company information During the year the Board received no notices from Directors requesting to use Company information received in their capacity as Directors that would not otherwise have been available to them. committees of the board The Board has established a Finance and Risk Committee to assist the Board in carrying out its responsibilities under the Companies Act 1993 and the Financial Reporting Act 1993 and a Remuneration Committee. auditors Under section 14 of the Public Audit Act 2001 and section 19 of the Port Companies Act 1988, the Auditor-General is the Auditor of Port Nelson. The Auditor-General has appointed Audit New Zealand to undertake the audit on its behalf. Fees paid to the Auditors are disclosed in the Financial Statements. performance indicators As required under Section 16 of the Port Companies Act 1988, performance indicators in the Statement of Corporate Intent are given on page 19. donations Donations made during the year are disclosed in the Financial Statements. employee remuneration Port Nelson has remunerated employees in excess of $100,000 per annum in the following bands: Remuneration Number of employees Number of employees 2012 2011 2012 2011 $100,000 to $110,000 1 1 $170,000 to $180,000 1 2 $110,000 to $120,000 1 - $180,000 to $190,000 1 1 $120,000 to $130,000 - 2* $190,000 to $200,000 1 - $130,000 to $140,000 2 2 $210,000 to $220,000 - 1 $140,000 to $150,000 1 - $220,000 to $230,000 1 - $150,000 to $160,000 - - $320,000 to $330,000 - 1 $160,000 to $170,000 - - $340,000 to $350,000 1 - * Includes employment cessation payments. changes in accounting policies FRS-44 New Zealand Additional Disclosures and Amendments to NZ IFRS was adopted during the year to harmonise with source IFRS and Australian Accounting Standards (Harmonisation Amendments). The purpose being to eliminate many of the differences between the accounting standards in each jurisdiction. Apart from this additional policy adoption there have been no other changes in accounting policies during the financial year disclosed in the Financial Statements. Nick Patterson Chairman of Directors For and on behalf of the Board Date: 28 September 2012 Peter Schuyt Director 18
statement of corporate intent mission statement • To operate Port Nelson as a successful business providing cost efficient, effective and competitive services and facilities for port users and shippers. • To provide for the present and future needs of Port Nelson in ways that are sensitive to people, use resources wisely, and are in harmony with the environment of an export port. objectives 1. To operate as a successful business. 2. To be a good employer. 3. The debt equity ratio not to exceed 45.0% (31/69). 4. To aim to grow the business through stimulation of throughput, added value services and related business activities, so leading to increased revenue. 5. To achieve a commercially acceptable rate of return on shareholders’ funds in accordance with meeting the objectives herein. 6. To ensure that port development takes place which meets the needs of the region. 7. To ensure that high environmental standards are maintained. 8. To strive for continuous improvement in everything that we do. measure of performance against objectives Target 2012 2011 2010 Target Met? Lost Time Injury Frequency Rate *
- Page 1 and 2: annual report 2012
- Page 3 and 4: content Directors’ Report........
- Page 5 and 6: directors’ report As Chairman of
- Page 7 and 8: financial results A sustainable bus
- Page 9 and 10: community governance highlights Som
- Page 11 and 12: Photo: Nelson Mail environment A le
- Page 13 and 14: our vision port people Percentage o
- Page 15 and 16: 2012 financial report customers An
- Page 17: statutory information to the shareh
- Page 21 and 22: alance sheet as at 30 june 2012 Not
- Page 23 and 24: statement of cash flows for the yea
- Page 25 and 26: summary of significant accounting p
- Page 27 and 28: summary of significant accounting p
- Page 29 and 30: notes to the accounts note 4: defer
- Page 31 and 32: notes to the accounts note 9: equit
- Page 33 and 34: notes to the accounts note 14: prop
- Page 35 and 36: notes to the accounts note 16: fina
- Page 37 and 38: notes to the accounts note 16: fina
- Page 39 and 40: notes to the accounts note 23: rela
statutory information<br />
to the shareholders, on the affairs of port nelson limited<br />
for the year ended 30 june <strong>2012</strong><br />
statutory information<br />
directors’ loans<br />
There were no loans by <strong>Port</strong> <strong>Nelson</strong> to Directors.<br />
shareholding by directors<br />
No Directors hold shares in <strong>Port</strong> <strong>Nelson</strong>.<br />
use of company information<br />
During the year the Board received no notices from Directors requesting to use Company information received in their capacity as<br />
Directors that would not otherwise have been available to them.<br />
committees of the board<br />
The Board has established a Finance and Risk Committee to assist the Board in carrying out its responsibilities under the Companies<br />
Act 1993 and the Financial <strong>Report</strong>ing Act 1993 and a Remuneration Committee.<br />
auditors<br />
Under section 14 of the Public Audit Act 2001 and section 19 of the <strong>Port</strong> Companies Act 1988, the Auditor-General is the Auditor of<br />
<strong>Port</strong> <strong>Nelson</strong>. The Auditor-General has appointed Audit New Zealand to undertake the audit on its behalf. Fees paid to the Auditors<br />
are disclosed in the Financial Statements.<br />
performance indicators<br />
As required under Section 16 of the <strong>Port</strong> Companies Act 1988, performance indicators in the Statement of Corporate Intent are given<br />
on page 19.<br />
donations<br />
Donations made during the year are disclosed in the Financial Statements.<br />
employee remuneration<br />
<strong>Port</strong> <strong>Nelson</strong> has remunerated employees in excess of $100,000 per annum in the following bands:<br />
Remuneration Number of employees Number of employees<br />
<strong>2012</strong> 2011 <strong>2012</strong> 2011<br />
$100,000 to $110,000 1 1 $170,000 to $180,000 1 2<br />
$110,000 to $120,000 1 - $180,000 to $190,000 1 1<br />
$120,000 to $130,000 - 2* $190,000 to $200,000 1 -<br />
$130,000 to $140,000 2 2 $210,000 to $220,000 - 1<br />
$140,000 to $150,000 1 - $220,000 to $230,000 1 -<br />
$150,000 to $160,000 - - $320,000 to $330,000 - 1<br />
$160,000 to $170,000 - - $340,000 to $350,000 1 -<br />
* Includes employment cessation payments.<br />
changes in accounting policies<br />
FRS-44 New Zealand Additional Disclosures and Amendments to NZ IFRS was adopted during the year to harmonise with source<br />
IFRS and Australian Accounting Standards (Harmonisation Amendments). The purpose being to eliminate many of the differences<br />
between the accounting standards in each jurisdiction. Apart from this additional policy adoption there have been no other changes<br />
in accounting policies during the financial year disclosed in the Financial Statements.<br />
Nick Patterson<br />
Chairman of Directors<br />
For and on behalf of the Board<br />
Date: 28 September <strong>2012</strong><br />
Peter Schuyt<br />
Director<br />
18
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