New Zealand Gazette – 1995 – No. 108

Page 3431

✨ Financial Statements Notes

29 SEPTEMBER NEW ZEALAND GAZETTE 3431

NOTES TO THE FINANCIAL STATEMENTS

1. STATEMENT OF ACCOUNTING POLICIES

1.1 Accounting Entity

The Financial Statements are those of the Line Business and Energy Business of Eastland Energy Limited. The Retail and Contracting business is included in Energy Business as require by Regulation 6(5) of the Electricity (Information Disclosure) Regulations 1994.

The period reported is 1 April 1994 to 31 March 1995.

These Financial Statements are prepared in accordance with Regulations 6(2) and 6(3) of the Electricity (Information Disclosure) Regulations 1994. The Financial Statements have not been prepared for the purpose of the Financial Reporting Act 1993, or the Energy Companies Act 1992.

1.2 Principal Activities

The Line Business operates a line business activity, as defined by regulation 2 of the Electricity (Information Disclosure) Regulations 1994, in the Gisborne district.

Included in Energy Business are all the other electricity activities (including the electricity trading and consultancy activities) of Eastland Energy Limited.

1.3 Accounting Convention

The Financial Statements are based on the general principles of historical cost accounting, including the going concern concept and the accrual basis of accounting. These policies have been followed on a consistent basis.

1.4 Methodology of Separation of Businesses

Eastland Energy Limited has generally followed the Electricity Disclosure Guidelines as issued by the Ministry of Commerce dated 23 June 1994 with the exceptions noted below:

Description	Allocator
Income:
Disconnection Fees	Electricity Revenue
Meter Check Readings	Electricity Revenue
Expenses:
Meter Reading	Shared Equally
Admin Salaries	Staff Numbers (F.T.E)
Advertising (Tariffs)	Shared Equally
Audit Costs	Staff Numbers (F.T.E)
Bank Fees	Electricity Revenue
Directors' Fees	Staff Numbers (F.T.E)
Insurances (General)	Staff Numbers (F.T.E)
Marketing Research	Electricity Revenue
Postages	Equal Shares
Printing and Stationery	Electricity Revenue

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VUW Te Waharoa — NZ Gazette 1995, No 108

NZLII — NZ Gazette 1995, No 108

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🏭 Notes to the Financial Statements for Eastland Energy Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsAccounting Policies, Financial Statements, Eastland Energy Limited, Electricity Regulations

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