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New Zealand Gazette – 1999 – No. 117

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✨ Financial Statements

NEW ZEALAND GAZETTE

No. 117

Central Electric Limited

Line Business Unit

Statement of Accounting Policies for the year ended 31 March 1999

Reporting entity

Central Electric Limited is wholly owned by the Otago Central Electric Power Trust and is registered under the Companies Act 1993.

Measure base

The financial statements have been prepared on an historical cost basis.

Special purpose financial statements

The financial statements have been prepared for the purpose of complying with the requirements of the Electricity (Information Disclosure) Regulations 1999 ("the regulations").

These financial statements relate to the company's line business incorporating the provision and operation of works for the conveyance of electricity, in accordance with section 6 of the regulations.

Specific accounting policies

Avoidable cost allocation methodology

The avoidable cost allocation methodology has been used to separate "other" activities from Central Electric Limited. Other activities include energy retailing, generation and operations.

Fixed assets

Distribution and substation assets in place prior to 1 April 1987 have been valued in accordance with the Inland Revenue Department guidelines. All other fixed assets are recorded at historical cost.

Depreciation

Depreciation rates used are as follows:

Asset Type	Rate %
Globo distribution systems	5.0 SL
Transmission lines and cables	5.0-6.3 DV
Distribution lines and cables	5.0-6.3 DV
Substation – transformers, switchgear, etc	7.5-9.4 DV
Substation – other	10.0 DV
Distribution transformers	7.5-9.4 DV
Public lighting	7.5-9.4 DV
Meters	10.0-12.5 DV
Motor vehicles	20.0-25.0 DV
Plant	10.0-12.5 DV
Furniture and fittings	20.0-25.0 DV
Office and computer equipment	20.0-40.0 DV

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VUW Te Waharoa — NZ Gazette 1999, No 117

NZLII — NZ Gazette 1999, No 117

The General Assembly Library (on the right) was completed in 1899 and survived the 1907 fire. Now the oldest remaining original Parliament building, still used as the Parliamentary Library.

✨ LLM interpretation of page content

🏭 Central Electric Limited Statement of Accounting Policies (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsAccounting Policies, Financial Statements, Electricity Regulations, Fixed Assets, Depreciation Rates

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