New Zealand Gazette – 1997 – No. 127

Page 2987

✨ Financial Statements



15 SEPTEMBER NEW ZEALAND GAZETTE 2987

DUNEDIN ELECTRICITY LTD

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 is placed on the assumption that the Company is a going concern.
  • Accrual accounting is used to match revenues with related expenses.

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.

These financial statements relate to:

  • The Company’s Line Business incorporating the conveyance of electricity, ownership of works for conveyance of electricity and provision of line function services.
  • The Company’s Contracting Business incorporating the maintenance of electrical appliances, fittings and associated equipment, the management of a hydro-electricity generating complex, and provision of street lighting services.
  • An Electricity Generating Business being the financial accounts of Waipori Power Generation Ltd prepared by Dunedin Electricity Ltd pursuant to section 6 (5)(a) of the Electricity (Information Disclosure) Regulations 1994.

SPECIFIC ACCOUNTING POLICIES

In accordance with clause 19 of the Regulations, the methodology adopted to allocate costs, revenues, assets and liabilities among the businesses is in accordance with the Guidelines.

Specific accounting policies which materially affect the measurement of profit and financial position which have been consistently applied, are:

(a) Revenue

Revenue shown in the Operating Statement for:

  • The Line Business relates to the provision of electricity distribution.
  • The Contracting Business relates to the construction and maintenance of electrical appliances, fittings and associated equipment, the management of a hydro-electricity generating complex, and the provision of street lighting services.
  • The Electricity Generating Business relates to the sale of electricity generated.


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✨ LLM interpretation of page content

💰 Statement of Accounting Policies for Dunedin Electricity Ltd

💰 Finance & Revenue
Accounting Policies, Financial Statements, Electricity, Dunedin Electricity Ltd, Electricity (Information Disclosure) Regulations 1994