✨ Financial Report Explanation
2682 NEW ZEALAND GAZETTE No. 108
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 Generation Business.
Other Current Assets
The other current assets shown in the Balance Sheet have been allocated on the basis of the share of total revenue 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 Generation Business and an allocation of Corporate Services and Engineering Services current liabilities. These have been allocated in proportion to the 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
Fixed assets have been valued at cost less accumulated depreciation. Depreciation has been charged at the following rates:
| % | |
|---|---|
| Dams and associated headworks | 1.0-1.3 |
| Plant | 10.0-12.5 |
| Transmission lines | 5.0-6.3 |
Investigation work on new hydro electric schemes has been capitalised.
Fixed assets shown in the Balance Sheet include those which are directly attributable to the Generation Business and an allocation of Corporate Services fixed assets. The allocation of the fixed assets is based on the relative share of total revenue of each business activity.
Term Liabilities
The term liabilities shown in the Balance Sheet are those which are directly attributable to the Generation 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 Financial Performance
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