New Zealand Gazette – 1995 – No. 93

Page 2870

✨ Financial Statements and Accounting Policies



2870 NEW ZEALAND GAZETTE No. 9

WAIPA POWER LIMITED - LINE BUSINESS

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1995

1 STATEMENT OF ACCOUNTING POLICIES

General Accounting Policies

The financial statements have been prepared for the purpose of complying with the requirements of the Electricity (Information Disclosure) Regulations 1994 (the Regulations) on an historical cost basis. As this is the first year that the regulations have been in effect, comparative information is not required, and therefore no comparative information has been prepared.

Particular Accounting Policies

The following particular accounting policies which materially affect the measurement of profit and the financial position have been applied:

a) Network Charges

Income from Network charges includes an estimated amount for accrued sales from meters unread as at 31 March 1995.

b) Investments

Investments are stated at the lower of cost plus accrued interest and net realisable value.

c) Fixed Assets

The Board has five classes of fixed assets as follows:

Freehold Land
Freehold Buildings
Reticulation Assets
Motor Vehicles
Plant and Equipment

Fixed assets are recorded at cost less accumulated depreciation.

Assets constructed by the company are capitalised at direct cost plus a proportion of indirect overheads.

d) Infrastructure Asset

The Infrastructure asset comprises the reticulation network

Expenditure on the infrastructure asset which increases the operating capability of, or which enhances or develops, the network is capitalised.

Expenditure incurred to maintain the operating capability of the infrastructure asset is charged as maintenance.


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✨ LLM interpretation of page content

🏭 Financial Performance Statement for Waipa Power Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Accounting Policies, Network Charges, Investments, Fixed Assets, Infrastructure Asset, Electricity Regulations