✨ Financial Statements
4 SEPTEMBER NEW ZEALAND GAZETTE 2855
TAURANGA ELECTRICITY LIMITED
Page 9
1. STATEMENT OF ACCOUNTING POLICIES
Accounting Entity
The Financial Statements are those of the line business and other business of Tauranga Electricity Limited.
Tauranga Electricity Limited is 100% owned by Tauranga Civic Holdings which, in turn, is 100% owned by the Tauranga District Council. There are four subsidiary companies of Tauranga Civic Holdings Limited - Aspen Contractors Ltd, Kaimai Hydropower Ltd, Tauranga Electricity Ltd and Testing Station Services Ltd. All are in a "prescribed" business relationship as defined by Regulation 3[i][a][iii] of the Electricity [Information Disclosure] Regulations 1994. However, Kaimai Hydropower Limited is the only entity carrying out activities in terms of Regulation 6 and is therefore the only entity which has been consolidated.
The period reported on 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 and have not been prepared for the purposes of the Financial Reporting Act 1993 or the Energy Companies Act 1992.
Principal Activities
The line business operates a line business activity as defined by Regulation 2 of the Electricity [Information Disclosure] Regulations 1994 in and around Tauranga.
Included in Other Businesses are all the other electricity activities [including the electricity trading and contracting activities] of Tauranga Electricity Limited which includes the operation of the Omanawa Power Station at 150kW output.
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 operating. These policies have been followed on a consistent basis.
Methodology of Separation of Businesses
Tauranga Electricity Limited has generally followed the Electricity Disclosure Guidelines issued by the Ministry of Commerce dated 23 June 1994, with the exceptions in the Allocation Methodologies Disclosure which are available on request in accordance with Regulation 19.
The Guidelines were issued by the Energy Policy Group of the Ministry of Commerce as guidance to assist electricity companies to comply with the Electricity [Information Disclosure] Regulations 1994.
Particular Accounting Policies
The following particular accounting policies which materially affect the measurements of profit and financial position have been applied:
Specific Accounting Policies
The following specific accounting policies which materially affect the measurement of financial performance and the financial position have been applied.
The accompanying Statement of Accounting Policies and Notes form part of and are to be read in conjunction with these Financial Statements.
The Financial Statements have been prepared solely for the purpose of complying with Regulations 6[2] and 6[3] of the Electricity [Information Disclosure] Regulations 1994 and are not intended for any other purpose.
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VUW Te Waharoa —
NZ Gazette 1995, No 93
NZLII —
NZ Gazette 1995, No 93
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Tauranga Electricity Limited 1995 Financial Statements
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🏭 Trade, Customs & Industry31 March 1995
Financial Statements, Shareholders' Funds, Liabilities, Assets, Electricity, Tauranga