New Zealand Gazette – 1996 – No. 113

Page 2865

✨ Financial Statements



NEW ZEALAND GAZETTE

10 SEPTEMBER

CENTRAL ELECTRIC LIMITED

LINE BUSINESS STATEMENT OF ACCOUNTING POLICIES

FOR THE YEAR ENDED 31 MARCH 1996

GENERAL ACCOUNTING POLICIES

The general policies adopted in the preparation of these financial statements are:

  • Unless otherwise stated, the measurement base adopted is historical cost.

  • Reliance has been placed on the assumption that the Line Business is a going concern.

  • Revenues earned are matched with expenses incurred using accrual accounting.

SPECIAL PURPOSE FINANCIAL STATEMENTS

These financial statements have been prepared for the purpose of complying with the requirements of the Electricity (Information Disclosure) Regulations 1994.

The methodology for allocating costs, revenues, assets and liabilities between activities used in the preparation of these financial statements is that as set out in the Guidelines to the Regulations.

These financial statements relate to the Line Business of Central Electric Limited and incorporate the conveyance of electricity, ownership of works for the conveyance of electricity and the supply of line function services.

SPECIFIC ACCOUNTING POLICIES

Revenue

The revenue shown in the Profit and Loss Account includes the line component of power sales, capital contributions, interest and miscellaneous and sundry income.

All revenue is directly attributable to the Line Business except capital contributions and interest which are allocated on the basis of the relative net asset values.



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✨ LLM interpretation of page content

🏭 Certification of Financial Statements for Central Electric Limited (continued from previous page)

🏭 Trade, Customs & Industry
13 August 1996
Electricity, Financial Statements, Audit, Central Electric Limited, Certification