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New Zealand Gazette – 1995 – No. 89

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✨ Financial Statement Disclosure

30 AUGUST NEW ZEALAND GAZETTE 2563

Electro Power Limited

Line Business

Statement Of Accounting Policies

Fixed assets are depreciated on the following basis:

i. Assets acquired since 31 December 1992:

	Rate	Method
Distribution	2.5%	Straight Line
Buildings	2.0%	Straight Line
Computers	25%	Straight Line
Motor Vehicles	25%	Diminishing Value
Mobile Plant	15%	Straight Line
Furniture & Fittings	15%	Straight Line
Plant & Equipment	10%	Straight Line

ii. Assets purchased from Palmerston North City Council:

Management have assessed the remaining useful lives of these assets and they have been depreciated accordingly.

Land and Capital work in progress are not depreciated.

Depreciation of distribution lines commences when the assets are physically complete and livened.

When depreciated assets are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts and any gains or losses on disposal are recognised in the Statement of Financial Performance.

(d) Investments

Investments are stated at cost.

(e) Inventories

Inventories are comprised principally of materials held for the self construction of network assets, and critical maintenance spares. They are stated at the lower of cost and net realisable value after due consideration for excess and obsolete items. Cost is determined on a weighted average cost basis.

(f) Accounts Receivable

Accounts receivable are recorded at expected realisable value after adequate provision for doubtful debts. Bad debts are written off in the period they are identified.

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VUW Te Waharoa — NZ Gazette 1995, No 89

NZLII — NZ Gazette 1995, No 89

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✨ LLM interpretation of page content

🏭 Financial Statement Disclosure for Electro Power Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Financial Statements, Information Disclosure, Line Business, Accounting Policies

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