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New Zealand Gazette – 1997 – No. 165

Page 3899

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✨ Financial Statements Notes

26 NOVEMBER NEW ZEALAND GAZETTE 3899

TRANSPOWER NEW ZEALAND LIMITED GROUP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 1997

1. STATEMENT OF ACCOUNTING POLICIES

Reporting Entity

These consolidated financial statements are for the Transpower Group (the "Group"), which includes all the
subsidiary and associate companies as disclosed in Note 21.

The financial statements are presented in accordance with the Electricity (Information Disclosure) Regulations
and have been prepared in accordance with the Financial Reporting Act 1993.

Special Purpose Financial Statements.

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

For the purpose of the Regulations, only Group financial statements are relevant, and therefore no Parent
Company information has been disclosed.

Measurement Base

The measurement basis is historical cost except as modified by the revaluation of certain assets and investments.

Accounting Policies

The following accounting policies have been applied:

(a) Principles of Consolidation

The Group financial statements are prepared from the audited financial statements of the Parent Company
and its subsidiaries as at 30 June 1997. The purchase method is used to consolidate subsidiary companies.
All significant transactions between group companies are eliminated on consolidation.

The equity method is used for the associate company. An associate company is one over which the
Group exercises significant influence, but does not have control.

(b) Revenue

Revenue shown in the Statements of Financial Performance comprises the amounts received and receivable
by the Group for transmission services, wholesale market services and lease revenue. Dividends
received and interest income from investments are included within net finance costs.

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VUW Te Waharoa — NZ Gazette 1997, No 165

NZLII — NZ Gazette 1997, No 165

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 TRANSPower New Zealand Limited Information Disclosure (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Financial Statements, Accounting Policies, Reporting Entity, Measurement Base

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