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New Zealand Gazette – 1995 – No. 101

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✨ Financial Statements Notes

18 SEPTEMBER NEW ZEALAND GAZETTE 3187

Plant and Equipment

10% to 50% Diminishing Value/
Straight Line

Dams and Headworks

1% Straight Line

Office Furniture & EDP Equipment

4% to 40% Diminishing Value/
Straight Line

Motor Vehicles

13.5% to 25% Diminishing Value/
Straight Line

Globo Distribution System

4% Straight Line

Distribution System Assets

5 to 10% Diminishing Value/
Straight Line

110kV Transmission Line

4% Straight Line

(iii) ACCOUNTS RECEIVABLE

Accounts Receivable are stated at estimated realisable value after providing against debts where collection is doubtful. All known bad debts have been written off during the year.

(iv) INVENTORIES

Inventories are valued at weighted average cost price as landed in the store. Obsolete items of inventory have been written off.

(v) INVESTMENTS

The investments are recorded at cost, except for the investment in Equiticorp Holdings Ltd debentures which was written down to 35 cents in the dollar in accordance with the Statutory Manager's assessment of net realisable value.

(vi) VALUATION OF FIXED ASSETS

Land is valued at the most recent Government Valuation, or at cost, whichever is the greater. Buildings have been revalued to market value as at 1 April 1992. The building valuations were determined by the registered valuers, Larmers of New Plymouth.

The distribution system has been revalued to its Optimised Deprival Value (ODV) as at 30 September 1993 by Catherall Taylor Associates and this value is not in excess of the recoverable value.

The Patea dam and generation assets were revalued as at 31 March 1995 up to a value determined by the Southpac Corporation Limited of Wellington, using the net current value method.

All other Fixed Assets are shown at cost less accumulated depreciation calculated as stated in Policy B(ii).

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VUW Te Waharoa — NZ Gazette 1995, No 101

NZLII — NZ Gazette 1995, No 101

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

💰 Notes to the Financial Statements for Egmont Electricity Limited (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Accounting Policies, Revenue Recognition, Depreciation, Egmont Electricity Limited

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