✨ Financial Report Notes
3878
NEW ZEALAND GAZETTE
No. 161
Horowhenua Energy Limited Line and Energy Businesses - Annual Report 1998
Notes to the financial statements
1. Statement of accounting policies
Accounting entity
The Financial Statements are those of the Line and Energy Businesses of Horowhenua Energy Limited. Information in respect of subsidiaries is included in the financial statements to the extent required by Regulation 6(5) of the Electricity (Information Disclosure) Regulations 1994. Horowhenua Energy Limited and it’s subsidiary, Linework Limited, are in a “Prescribed Business Relationship” as defined by Regulation 3(1)(a)(iii) of the Electricity (Information Disclosure) Regulations 1994.
The period reported is 1 April 1997 to 31 March 1998.
These Financial Statements are prepared in accordance with Regulations 6(2) and 6(3) of the Electricity (Information Disclosure) Regulations 1994. These Financial Statements have not been prepared for the purpose of the Financial Reporting Act 1993, or the Energy Companies Act 1992.
Principal activities
The Line Business operates a line business activity, as defined by regulation 2 of the Electricity (Information Disclosures) Regulations 1994, in and around the Horowhenua and Kapiti Coast area.
The Energy Business operates a retail electricity business activity, as defined by the regulation 2 of the Electricity (Information Disclosure) Regulations 1994, in and around the Horowhenua and Kapiti Coast area.
Methodology of separation of business
Horowhenua Energy Limited has generally followed the Electricity Disclosure Guidelines as issued by the Ministry of Commerce dated 23 June 1994 with the exceptions noted below.
The 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 noted in the Allocation Methodologies Disclosure which will be publicly disclosed.
Measurement base
The accounting principles recognised as appropriate for the measurement and reporting of earnings and financial position on a historical cost basis are followed by the company, with the exception that certain fixed assets have been re-valued.
Specific accounting policies
The following specific accounting policies which materially affect the measurement of financial performance and the financial position have been applied:
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VUW Te Waharoa —
NZ Gazette 1998, No 161
NZLII —
NZ Gazette 1998, No 161
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Horowhenua Energy Limited Line and Energy Businesses - Annual Report 1998
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🏭 Trade, Customs & Industry29 May 1998
Financial Performance, Annual Report, Horowhenua Energy Limited, Line Business, Energy Business, Financial Statements, Balance Sheet