New Zealand Gazette – 1997 – No. 111

Page 2616

✨ Financial Statements



2616 NEW ZEALAND GAZETTE No. 111

CENTRAL ELECTRIC LIMITED

ENERGY BUSINESS STATEMENT OF ACCOUNTING POLICIES

FOR THE YEAR ENDED 31 MARCH 1997

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 Energy Business of Central Electric Limited and incorporate the retailing of electricity, the retailing of electrical appliances and the maintenance and installation of electrical appliances, fittings and associated equipment.

SPECIFIC ACCOUNTING POLICIES

Revenue

The revenue shown in the Profit and Loss Account includes the electricity unit consumption component of power sales, electrical appliance sales (including the maintenance and installation thereof), capital contributions, interest and miscellaneous and sundry income.

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

Expenditure

The expenditure shown in the Profit and Loss Account is derived as follows:

  • Electricity purchases, operating costs, depreciation and the cost of electrical appliance goods sold are directly attributable to the Energy Business.

  • Overheads relating to Corporate Services are allocated on the basis of the relative net asset values.

  • Overheads relating to Engineering Services are allocated on the basis of the relative book values of the Energy Business’ fixed assets.



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🏭 Central Electric Limited Line Business Financial Performance (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Revenue, Expenditure, Taxation, Profit, Dividends, Retained Earnings, ODV Valuation, KPMG Peat Marwick, Electricity (Information Disclosure) Regulations 1994, CAIDI, Interruption Statistics