✨ Financial Statements
3342 NEW ZEALAND GAZETTE No. 138
STATEMENT OF ACCOUNTING POLICIES
FOR THE PERIOD ENDED 31 MARCH 1998
ACCOUNTING ENTITY:
The Financial Statements are those of the “Network Division” and the Energy, Retail, Contracting and Servicing Divisions shown as a combined amount called “Other” of CHB Power Holdings Limited.
The Financial Statements are prepared in accordance with Regulations 6(2) of the Electricity (Information Disclosure) Regulations 1994. The Financial Statements have not been prepared for the purpose of the Financial Reporting Act 1993, or the Energy Companies Act 1992. The period reported is 1 April 1997 to 31 March 1998.
PRINCIPAL ACTIVITIES:
The Network Business operates the network business activity, as defined by the Regulation 2 of the Electricity (Information Disclosure) Regulations 1994, in the area bounded by the Ruahine Ranges, the east coastline, Te Aute in the north and Herbertville in the south.
ACCOUNTING CONVENTION:
The historical cost method as modified by the revaluation of network assets to the optimised deprival value, has been followed.
The principles of a going concern, accrual and periodic reporting have been used as the underlying basis of the reports as defined by the Statement of Concepts issued by the Institute of Chartered Accountants of New Zealand.
METHODOLOGY OF SEPARATION OF BUSINESS:
CHB Power Holdings Limited has generally followed the Electricity Disclosure guidelines as issued by the Ministry of Commerce dated 23 June 1994 with the exceptions noted below. These guidelines were issued by the Energy Policy Group of the Ministry of Commerce as guidance to assist Electricity Companies to comply with the Electricity (Information Disclosure) Regulations 1994.
Exceptions to the guidelines are:
(a) Allocation of these amounts marked (A) in the Financial Statements, to the Network Division is on the basis of percentage of turnover calculated as:
$$
rac{4,545,660}{12,081,794} = 38%
$$Next Page →
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VUW Te Waharoa —
NZ Gazette 1998, No 138
NZLII —
NZ Gazette 1998, No 138
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Statement of Accounting Policies for CHB Power Holdings Limited
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💰 Finance & RevenueAccounting Policies, Financial Statements, CHB Power Holdings Limited, Network Division, Energy, Retail, Contracting, Servicing Divisions, Electricity (Information Disclosure) Regulations 1994, Financial Reporting Act 1993, Energy Companies Act 1992, Historical Cost Method, Revaluation of Network Assets, Going Concern, Accrual, Periodic Reporting, Ministry of Commerce, Energy Policy Group