New Zealand Gazette – 1998 – No. 160

Page 3839

✨ Financial Performance Statement



28 SEPTEMBER

NEW ZEALAND GAZETTE

b) Recognition of Revenue

Income from electricity sales includes the value of units assessed as being recorded on meters as at 31 March 1998, but for which invoices had not been rendered.

c) Fixed Assets

The Group has the following classes of fixed assets:

  • Freehold Land
  • Freehold Buildings
  • Distribution System
  • Generation Plant and Buildings
  • Other Plant and Equipment
  • Computer and Telecommunication Equipment
  • Motor Vehicles and Mobile Equipment

All fixed assets, other than the distribution system are recorded at cost less accumulated depreciation. The distribution system has been revalued to its Optimised Deprival Value. Distribution assets have useful lives of 15-70 years.

d) Depreciation

Depreciation is provided to allocate the assets' cost over their estimated useful lives as follows:

  • Buildings on Freehold Land ... Straight line basis over 50 years
  • Generation Plant and Buildings ... Straight line basis over life of the project, 13-20 years
  • Other Plant and Equipment ... Diminishing value method at 18% per annum
  • Computer and Telecommunication Equipment ... Straight line basis over 3-40 years
  • Motor Vehicles and Mobile Equipment ... Diminishing value method at 20% per annum

e) Accounts Receivable

Receivables are valued at their estimated realisable value.



Next Page →

PDF embedding disabled (Crown copyright)

View this page online at:


VUW Te Waharoa — PDF NZ Gazette 1998, No 160


NZLII — PDF NZ Gazette 1998, No 160




✨ LLM interpretation of page content

🏭 Mercury Energy Limited Financial Performance Statement (continued from previous page)

🏭 Trade, Customs & Industry
Financial Performance, Electricity, Mercury Energy Limited, Regulations