New Zealand Gazette – 1995 – No. 112

Page 3556

✨ Financial Performance Statement



3556 NEW ZEALAND GAZETTE No. 112

WEL ENERGY GROUP LIMITED

LINES BUSINESS

Fixed Assets

Fixed assets used by both the line business and another activity have been allocated to the line business in proportion to the level of use of those assets (where this is not known the level of expenditure is used as a proxy).

Creditors

Creditors not directly attributable to the line business have been allocated in proportion to the expenditure allocation as noted above.

Provision for Annual and Long Service Leave

The amount of the provision attributable to employees working on both the line business and other activities has been allocated to the line business in proportion to wages expenditure.

Equity Reserves

Equity reserves unable to be directly allocated have been allocated based on net assets, with the exception of retained earnings which has been allocated in proportion to total equity reserves.

Except for line losses, where a departure has occurred for the reason explained in note 2, the Directors consider the principles outlined above are in accordance with the methodologies set out in the Electricity Disclosure Guidelines.

C. Comparatives

Comparatives are not available for previous years and have not been disclosed. This is in accordance with guidance from the Energy and Resources Division of the Ministry of Commerce.



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🏭 Financial Performance Statement for WEL Energy Group Limited (continued from previous page)

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Financial Performance, Revenue, Expenses, Profit, Taxation, Dividends, WEL Energy Group Limited