New Zealand Gazette – 1999 – No. 128

Page 3080

✨ Financial Statements Notes



3080 NEW ZEALAND GAZETTE No. 128

MAINPOWER NEW ZEALAND LTD

Notes to and Forming Part of the Financial Statements
For The Year Ended 31 March 1999

1.4 Goods and Services Tax
All items in the financial statements are net of Goods and Services Tax except for Receivables and Accounts Payable which are shown in the Statement of Financial Position inclusive of Goods and Services Tax.

1.5 Allocation of Costs, Revenues, Assets and Liabilities
The allocation of costs, revenues, assets and liabilities are in accordance with Regulation 6 of the Electricity (Information Disclosure) Regulations 1999.

1.6 Business Accounting Separation
Lines Business
The Lines business provides and maintains the electricity distribution network throughout the North Canterbury and Kaikoura regions.

1.7 Rebate Shares

i) Redemption
Rebate Shares are only held by Qualifying Customers and the Trustees of the MainPower Trust. They are not transferable and are subject to compulsory redemption at a nominal value of ten (10) cents when a person ceases to be a Qualifying Customer of MainPower.

ii) Rebates
The Rebate Share entitles a Qualifying Customer to a rebate of fixed and variable distribution line charges. The accumulated rebate paid to Qualifying Customers is disclosed separately in the Statement of Financial Performance.

1.8 Comparative Figures
Change in Electricity (Information Disclosure) Regulations
The information relating to 1998 was prepared in accordance with the Electricity (Information Disclosure) Regulations 1994.

The information relating to 1999 was prepared in accordance with the Electricity (Information Disclosure) Regulations 1999.

Change in Statement of Financial Performance and Statement of Financial Position in respect of Kaiapoi Electricity Ltd
The Lines business Statement of Financial Performance and Statement of Financial Position for the financial year ended 31 March 1999 exclude the Financial Performance and Financial Position of Kaiapoi Electricity Ltd.

The Lines business Statement of Financial Performance and Statement of Financial Position for the financial year ended 31 March 1998 include the Financial Performance and Financial Position of Kaiapoi Electricity Ltd.

1.9 Changes in Accounting Policies
There have been no changes in accounting policies. All policies have been applied on a basis consistent with those used in previous years.



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🏭 Notes to and Forming Part of the Financial Statements for MainPower New Zealand Ltd (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Accounting Policies, Goods and Services Tax, Allocation of Costs, Business Accounting Separation, Rebate Shares, Comparative Figures, MainPower New Zealand Ltd