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ANNUAL REPORT (1)
FOR THE PERIOD
Beginning January 1, 1994 and Ending December 31, 1994
TO THE
US SECURITIES AND EXCHANGE COMMISSION
OF
UNITIL RESOURCES, INC.
Date of Incorporation May 26, 1993
State of Incorporation New Hampshire
Location of Principal Executive Offices of Reporting Company:
216 Epping Road
Exeter, New Hampshire 03833-4571
Name, Title and address of officer to whom correspondence
concerning this report should be addressed:
Gail A. Siart, Vice President and Treasurer
216 Epping Road
Exeter, New Hampshire 03833-4571
Name of Principal Holding Company:
UNITIL Corporation
(1) This report is being filed pusuant to the requirements of H.C.A.R. Number
35-25816, which specifies that UNITIL Resources, Inc. must file an annual
report using, where applicable, Form U-13-60 reporting format.
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
LISTING OF SCHEDULES AND ANALYSIS OF ACCOUNTS Page
Number
Description of Schedules and Accounts Schedule or
Account
Number
COMPARATIVE BALANCE SHEET Schedule I 4-5
SERVICE COMPANY PROPERTY Schedule II 6-7
ACCUMULATED PROVISION FOR
DEPRECIATION
AND AMORTIZATION OF SERVICE COMPANY Schedule III 8
PROPERTY
INVESTMENTS Schedule IV 9
ACCOUNTS RECEIVABLE FROM ASSOCIATE
COMPANIES Schedule V 10
FUEL STOCK EXPENSES UNDISTRIBUTED Schedule VI 11
STORES EXPENSE UNDISTRIBUTED Schedule VII 12
MISCELLANEOUS CURRENT AND ACCRU Schedule VIII 13
ASSETS
MISCELLANEOUS DEFERRED DEBITS Schedule IX 14
RESEARCH, DEVELOPMENT, OR
DEMONSTRATION
EXPENDITURES Schedule X 15
PROPRIETARY CAPITAL Schedule XI 16
LONG-TERM DEBT Schedule XII 17
CURRENT AND ACCRUED LIABILITIES Schedule 18
XIII
NOTES TO FINANCIAL STATEMENTS Schedule XIV 19
COMPARATIVE INCOME STATEMENT Schedule XV 20
ANALYSIS OF BILLING - ASSOCIATE Account 457 21
COMPANIES
ANALYSIS OF BILLING - NONASSOCIATE Account 458 22
COMPANIES
ANALYSIS OF CHARGES FOR SERVICE -
ASSOCIATE AND NONASSOCIATE COMPANIES Schedule XVI 23
SCHEDULE OF EXPENSE BY DEPARTMENT OR
SERVICE FUNCTION Schedule XVII 24-25
DEPARTMENTAL ANALYSIS OF SALARIES Account 920 26
OUTSIDE SERVICES EMPLOYED Account 923 27
EMPLOYEE PENSIONS AND BENEFITS Account 926 28
GENERAL ADVERTISING EXPENSES Account 930.1 29
MISCELLANEOUS GENERAL EXPENSES Account 930.2 30
RENTS Account 931 31
TAXES OTHER THAN INCOME TAXES Account 408 32
DONATIONS Account 426.1 33
OTHER DEDUCTIONS Account 426.5 34
NOTES TO STATEMENT OF INCOME Schedule XVIII 35
FINANCIAL DATA SCHEDULE Schedule XIX 36
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
LISTING OF INSTRUCTIONAL FILING REQUIREMENTS Page
Number
Description of Reports or Statements
ORGANIZATION CHART 36
METHODS OF ALLOCATION 37
ANNUAL STATEMENT OF 38
COMPENSATION FOR USE
OF CAPITAL BILLED
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE I - COMPARATIVE BALANCE SHEET
Give balance sheet of the Company as of December 31 of the current
and prior year.
ACCOUNT ASSETS AND OTHER DEBITS AS OF DECEMBER 31
CURRENT PRIOR
SERVICE COMPANY PROPERTY
------------------------
101 Service company property (Schedule II) 0 0
107 Construction work in progress (Schedule II) 0 0
Total Property 0 0
108 Less accumulated provision
for depreciation
and amortization of service
company property (Schedule III) 0 0
Net Company Property 0 0
INVESTMENTS
-----------
123 Investments in associate 0 0
companies (Schedule IV)
124 Other investments (Schedule IV) 0 0
Total investments 0 0
CURRENT AND ACCRUED ASSETS
--------------------------
131 Cash 98,715 4,376
134 Special deposits 0 0
135 Working funds 0 0
136 Temporary cash investments (Schedule IV) 0 0
141 Notes receivable 0 0
143 Accounts receivable 65,565 129,074
144 Accumulated provision for
uncollectable accounts 0 0
146 Accounts receivable from
associate companies (Schedule V) 0 0
152 Fuel stock expense 0 0
undistributed (Schedule VI)
154 Materials and supplies 0 0
163 Stores expense undistributed (Schedule VII) 0 0
165 Prepayments 0 0
173 Unbilled and Accrued Revenues
(Schedule VIII) 8,948 23,186
Total Current and Accrued Assets 173,228 156,636
DEFERRED DEBITS
---------------
181 Unamortized debt expense 0 0
184 Clearing accounts 0 0
186 Miscellaneous deferred debits (Schedule IX) 1,483 62,362
188 Research, development, or demonstration
expenditures (Schedule X) 0 0
190 Accumulated deferred income tax 0 0
Total Deferred Debits 1,483 1,483
TOTAL ASSETS AND OTHER DEBITS 174,711 218,998
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE I - COMPARATIVE BALANCE SHEET
ACCOUNT LIABILITIES AND PROPRIETARY CAPITAL AS OF DECEMBER 31
CURRENT PRIOR
PROPRIETARY CAPITAL
-------------------
201 Common stock issued (Schedule XI) 100 100
211 Miscellaneous paid-in-capital (Schedule XI) 9,900 9,900
215 Appropriated retained earnings (Schedule XI) 0 0
216 Unappropriated retained 130,264 55,400
earnings (Schedule XI)
Total Proprietary Capital 140,264 65,400
LONG-TERM DEBT
--------------
223 Advances from associate 0 0
companies (Schedule XII)
224 Other long-term debt (Schedule XII) 0 0
225 Unamortized premium on long-term debt 0 0
226 Unamortized discount on long-term dbt-debit 0 0
Total Long-Term Debt 0 0
227 Obligations under capital 0 0
leases - non-current
CURRENT AND ACCRUED LIABILITIES
-------------------------------
231 Notes payable 0 0
232 Accounts payable 0 0
233 Notes payable to associate
companies (Schedule XIII) 0 0
234 Accounts payable to associate
companies (Schedule XIII) 52,003 128,693
236 Taxes accrued (17,556) 24,905
237 Interest accrued 0 0
238 Dividends declared 0 0
241 Tax collections payable 0 0
242 Miscellaneous current and accrued
liabilities (Schedule XIII) 0 0
243 Obligations under capital leases - current 0 0
Total Current and Accrued Liabilities 34,447 153,598
DEFERRED CREDITS
----------------
253 Other deferred credits 0 0
255 Accumulated deferred investment tax credits 0 0
Total Deferred Credits 0 0
282 ACCUMULATED DEFERRED INCOME TAXES 0 0
TOTAL LIABILITIES AND PROPRIETARY CAPITAL 174,711 218,998
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE II - SERVICE COMPANY PROPERTY
BALANCE RETIREMENTS OTHER BALANCE
AT OR CHANGES 1/ AT CLOSE
DESCRIPTION BEGINNING OF YEAR ADDITIONS SALES OF YEAR
COMPANY PROPERTY
Account None
301 ORGANIZATION
303 MISCELLANEOUS INTANGIBLE PLANT
304 LAND AND LAND RIGHTS
305 STRUCTURES AND IMPROVEMENTS
306 LEASEHOLD IMPROVEMENTS
307 EQUIPMENT 2/
308 OFFICE
FURNITURE AND EQUIPMENT
309 AUTOMOBILES,OTHER
VEHICLES AND
RELATED GARAGE
EQUIPMENT
310 AIRCRAFT AND
AIRPORT EQUIPMENT
311 OTHER
COMPANY PROPERTY 3/
SUB-TOTAL 0 0 0 0 0
107 CONSTRUCTION
WORK IN
PROGRESS
TOTAL 0 0 0 0 0
1/ PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE II - CONTINUED
2/ SUBACCOUNTS ARE REQUIRED FOR EACH CLASS OF EQUIPMENT OWNED. THE SERVICE
COMPANY SHALL PROVIDE A LISTING BY SUBACCOUNT OF EQUIPMENT ADDITIONS DURING
THE YEAR AND THE BALANCE AT THE CLOSE OF THE YEAR:
SUBACCOUNT DESCRIPTION ADDITIONS BALANCE AT
CLOSE OF
YEAR
TOTAL 0 0
3/ DESCRIBE OTHER COMPANY PROPERTY:
NONE
4/ DESCRIBE CONSTRUCTION WORK IN PROGRESS:
NONE
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE III
ACCUMULATED PROVISION FOR DEPRECIATION AND
AMORTIZATION OF SERVICE COMPANY PROPERTY
BALANCE AT ADDITIONS OTHER
BEGINNING CHARGED CHANGES BALANCE AT
DESCRIPTION OF YEAR TO ACCOUNT RETIRE- ADD CLOSE OF
403 MENTS (DEDUCT)1/ YEAR
Account
301 ORGANIZATION
303 MISCELLANEOUS
INTANGIBLE PLANT
304 LAND AND LAND
RIGHTS
035 STRUCTURES
AND IMPROVEMENTS
306 LEASEHOLD
IMPROVEMENTS
307 EQUIPMENT
308 OFFICE
FURNITURE
AND EQUIPMENT
309 AUTOMOBILES,
OTHER
VEHICLES
AND RELATED
GARAGE
EQUIPMENT
310 AIRCRAFT
AND AIRPORT
EQUIPMENT
311 OTHER
COMPANY PROPERTY
TOTAL 0 0 0 0 0
1/ PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE IV - INVESTMENTS
INSTRUCTIONS: Complete the following schedule concerning investments.
Under Account 124 "Other Investments" state each investment
separately, with description, including, the name of issuing
company, number of shares or principal amount.
Under Account 136, "Temporary Cash Investments", list each
investment separately.
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
ACCOUNT 123 - INVESTMENT IN ASSOCIATE 0 0
COMPANIES
ACCOUNT 124 - OTHER INVESTMENTS 0 0
ACCOUNT 136 - TEMPORARY CASH INVESTMENTS 0 0
TOTAL 0 0
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE V - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
INSTRUCTIONS: Complete the following schedule listing accounts receivable
from each associate company. Where the service company has
provided accomodation or convenience payments for associate
companies, a separate listing of total payments for each
company, number of shares or principal amount associate
company by subaccount should be provided.
BALANCE BALANCE
AT AT
DESCRIPTION BEGINNING CLOSE
OF YEAR OF YEAR
ACCOUNT 146 - ACCOUNTS RECEIVABLE FROM
ASSOCIATE COMPANIES
NONE
TOTAL 0 0
ANALYSIS OF CONVENIENCE OR ACCOMMODATION
PAYMENTS:
TOTAL PAYMENTS 0
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE VI - FUEL STOCK EXPENSES UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and
expenses incurred with respect
to fuel stock expense during the year
and indicate amount
attributable to each associate
company. Under the section
headed "Summary" listed below give an
overall report of the
fuel functions performed by the
service company.
DESCRIPTION LABOR EXPENSE TOTAL
ACCOUNT 152 - FUEL STOCK EXPENSE 0 0 0
UNDISTRIBUTED
TOTAL 0 0 0
SUMMARY:
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE VII - STORES EXPENSE UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and expenses
incurred with respect stores expense during the
year and indicate amount attributable to each
associate company.
DESCRIPTION LABOR EXPENSE TOTAL
ACCOUNT 163 - STORES EXPENSE 0 0 0
UNDISTRIBUTED
TOTAL 0 0 0
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE VIII
UNBILLED AND ACCRUED REVENUE
INSTRUCTIONS: Provide detail of items in this account. Items
less than $10,000 may be grouped, showing the number
of items in each group.
BALANCE AT BALANCE AT
DESCRIPTION BEGINNING CLOSE
OF YEAR OF YEAR
ACCOUNT 173 - ACCRUED AND
UNBILLED REVENUE 23,186 8,948
TOTAL 23,186 8,948
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE IX - MISCELLANEOUS DEFERRED DEBITS
INSTRUCTIONS: Provide detail of items in this account. Items less
than $10,000 may be grouped by class showing the number
of items in each class.
BALANCE AT BALANCE AT
DESCRIPTION BEGINNING CLOSE
OF YEAR OF YEAR
ACCOUNT 186 - MISCELLANEOUS DEFERRED
DEBITS
Deferred Billings 62,362 1,483
TOTAL 62,362 1,483
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE X
RESEARCH, DEVELOPMENT OR DEMONSTRATION EXPENDITURES
INSTRUCTIONS: Provide a description of each material research,
project which incurred costs by the service
corporation during the year.
BALANCE AT
DESCRIPTION CLOSE
OF YEAR
ACCOUNT 188 - RESEARCH, DEVELOPMENT OR
DEMONSTRATION EXPENDITURES 0
TOTAL 0
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE XI - PROPRIETARY CAPITAL
PAR OR OUTSTANDING CLOSE
NUMBER OF STATED OF PERIOD
CLASS OF SHARES VALUE NO. OF TOTAL
ACCOUNT STOCK AUTHORIZED PER SHARE SHARES AMOUNT
NUMBER
201 COMMON 10,000 1.00 100 100
STOCK ISSUED
INSTRUCTIONS: Classify amounts in each account with brief
explanation, disclosing the general
nature of transactions which gave rise to the
reported amounts.
DESCRIPTION AMOUNT
ACCOUNT 207 - PREMIUM ON COMMON STOCK 9,900
ACCOUNT 215 - APPROPRIATED RETAINED EARNINGS
TOTAL 9,900
BALANCE NET BALANCE
AT INCOME AT
DESCRIPTION BEGINNING OR DIVIDENDS CLOSE
OF YEAR (LOSS) PAID OF YEAR
ACCOUNT 216 -
UNAPPROPRIATED
RETAINED
EARNINGS 55,400 74,864 0 130,264
TOTAL 55,400 74,864 0 130,264
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1994
SCHEDULE XII - LONG-TERM DEBT
INSTRUCTIONS: Advances from associate companies should be reported separately
for advances on notes, and advances on open account.
Names of associate companies from which advances were
received shall be shown under the class and series of
obligation column. For Account 224 - Other long-term
debt provide the name of creditor company or organization,
terms of the obligation,date of maturity, interest
rate, and the amount authorized and outstanding.