✨ Financial Statements Disclosure
2668 NEW ZEALAND GAZETTE No. 108
Accounts Receivable
Accounts receivable are valued at net realisable value.
Accounts receivable shown in the Balance Sheet are those which are directly attributable to the Line Business.
Stock
Stock is valued at the lower of cost and net realisable value. In determining cost, weighted average cost has been used.
The stock shown in the Balance Sheet is that which is directly attributable to the Line Business.
Other Current Assets
The other current assets shown in the Balance Sheet have been allocated on the basis of total revenue share per respective business, except for income tax refund which is allocated based on taxation charged.
Current Liabilities
The current liabilities shown in the Balance Sheet include those which are directly attributable to the Line Business and an allocation of Corporate Services current liabilities. These have been allocated on the respective share of total revenue of each activity.
Cash at Bank and Investments
Investments are recorded at cost. Cash at Bank are the balances held at the bank. Investments and Cash at Bank have been allocated on the basis of relative funding requirements per Business.
Fixed Assets and Depreciation
Distribution and substation assets in place prior to 1 April 1987 have been valued in accordance with Inland Revenue Department guidelines prior to that date and subsequently depreciated. All other assets are valued at cost less accumulated depreciation. Depreciation has been charged at the following rates:
| Asset Description | % | Method |
|---|---|---|
| Globo distribution system | 5.0 | S.L. |
| Transmission lines and cables | 5.0-6.3 | DV |
| Distribution lines and cables | 5.0-6.3 | DV |
| Substation - transformers, switch gear etc | 7.5-9.4 | DV |
| Substation - other | 10.0 | DV |
| Distribution transformers | 7.5-9.4 | DV |
| Public lighting | 7.5-9.4 | DV |
| Meters | 10.0-12.5 | DV |
| Motor Vehicles | 20.0-25.0 | DV |
| Plant | 10.0-12.5 | DV |
| Furniture and Fittings | 20.0-25.0 | DV |
| Office and computer equipment | 20.0-40.0 | DV |
Fixed assets shown in the Balance Sheet include those which are directly attributable to the Line Business and an allocation of Corporate Services fixed assets. The allocation of the fixed assets is based on the respective share of total revenue of each business.
Term Liabilities
The term liabilities shown in the Balance Sheet are those which are directly attributable to the Line Business.
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VUW Te Waharoa —
NZ Gazette 1998, No 108
NZLII —
NZ Gazette 1998, No 108
✨ LLM interpretation of page content
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Central Electric Limited Information Disclosure
(continued from previous page)
🏭 Trade, Customs & Industry23 July 1998
Electricity, Information Disclosure, Central Electric Limited, Financial Statements, Certification, Auditor's Report, Accounts Receivable, Stock, Current Assets, Current Liabilities, Cash at Bank, Investments, Fixed Assets, Depreciation, Term Liabilities