New Zealand Gazette – 1999 – No. 105

Page 2501

✨ Financial Statements



31 AUGUST NEW ZEALAND GAZETTE 2501

notes to and forming part of the financial statements CentralPower Limited

(h) Financial Instruments

Financial instruments recognised in the statement of financial position include deposits with banks, trade receivables, other receivables, investments and debt. These instruments are entered into in the normal course of business.

The Company does not undertake speculative trading transactions. Accordingly, financial instruments are "marked to market" for disclosure purposes but are not adjusted for in the financial statements.

(i) Changes In Accounting Policies

There have been no material changes in accounting policies during the year. All policies have been applied on a consistent basis with previous years.

(j) Disclosure of Methodologies for Allocation of Costs, Revenues, Assets and Liabilities

The Electricity (Information Disclosure) Regulations 1994 were replaced by the Electricity (Information Disclosure) Regulations 1999 as from 29 April 1999. The electricity costs, revenues, assets and liabilities of the Company have been allocated using the mandatory avoidable cost allocation methodology as prescribed by the new 1999 Regulations. Under the 1994 Regulations, cost allocation guidelines were optional, and a number of allocation methodologies were followed. The change in allocation methodology from the previous year has resulted in a decrease in the opening equity of the line business by $7,683,008.



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✨ LLM interpretation of page content

🏭 Financial Statements of CentralPower Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Instruments, Accounting Policies, Cost Allocation, Electricity Regulations, Financial Disclosure