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New Zealand Gazette – 1998 – No. 133

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✨ Electricity Financial Disclosure

4 SEPTEMBER NEW ZEALAND GAZETTE

3243

LINE AND ENERGY AND OTHERS BUSINESSES ACTIVITIES

Accounting Policies Specific To The Line Business Activity

a) Revenue

Line revenue is recognised as actual amounts invoiced during the period.
Capital contributions are recognised as revenue in the year of receipt.

b) Depreciation

Depreciation has been provided on the Distribution Network at 1.4% to 6.7% straight line which amortises the cost of the asset over its economic life.

c) Transmission Charges

Transmission charges are recognised as a direct cost to the line business activity.

Accounting Policies Specific To The Energy and Other Business Activities

a) Revenue

Electricity sales are recognised as actual amounts invoiced during the period together with an accrual for the estimated value of unread consumption.

b) Depreciation

Depreciation has been provided on all tangible fixed assets other than freehold land on the following basis and at the following rates which amortise the cost of the asset over their economic lives.

Generation Assets:

Dams, headworks, roads etc ... 1.5% straight line
Buildings ... 1.5% straight line
Generating plant and equipment ... 3% straight line

c) Investments

Investments are shown at cost plus accumulated interest.

d) Transmission Charges

Transmission charges are not recognised as a cost to the energy business activity.

e) Goodwill

Goodwill, representing the excess of the cost paid for Ashburton Refrigeration (1997) Limited over the fair value of net assets acquired, is shown as an intangible asset. Goodwill is amortised on a straight line basis over the period of expected benefit. This period has been assessed as five years from the date of acquisition.

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VUW Te Waharoa — NZ Gazette 1998, No 133

NZLII — NZ Gazette 1998, No 133

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Electricity Information Disclosure for Ashburton Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated10 August 1998
KeywordsElectricity, Financial Statements, Audit, Ashburton Limited, Accounting Policies

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