✨ Financial Statements
8 OCTOBER
NEW ZEALAND GAZETTE
3451
BAY OF PLENTY ELECTRICITY LIMITED
Financial Statements for the purposes of the
Electricity (Information Disclosure) Regulations 1999
NOTES TO THE FINANCIAL STATEMENTS
18 FINANCIAL INSTRUMENTS (Continued)
(b) Fair Values
Financial instruments in the current section of the balance sheet, with the exception of the current portion of term loans, are shown at values equivalent to their fair values. The fair value of term loans is disclosed in section (a) (i) above. Investments are shown at cost which is not significantly different from their fair values.
19 SEGMENTAL
The Company operates predominantly in one industry, the distribution of electricity. Its operations are carried out solely in New Zealand and are therefore within one geographical segment for reporting purposes.
20 EVENTS OCCURRING AFTER BALANCE DATE
On 1 April 1999 the Company changed its name to Horizon Energy Distribution Ltd. On the same date the purchaser of the Retail and Generation businesses assumed the company name Bay of Plenty Electricity Ltd.
On 12 April 1999 Horizon Energy Distribution Ltd entered into an agreement to sell its Commerce St building for an amount in excess of book value. As the agreement was entered into after balance date the financial effect has not been recognised in these financial statements.
21 ITEMS WITH NIL BALANCES REQUIRING SPECIFIC DISCLOSURE UNDER THE ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 1999
| Revenue : | Lines Business 1999 $000 | Lines Business 1998 $000 |
|---|---|---|
| Revenue from line / access charges invoiced to customers by electricity retailers | Nil | |
| Revenue from "Other" business or services | Nil | |
| Electricity hedges | Nil |
| Expenditure : | ||
|---|---|---|
| Asset maintenance carried out by "Other" business (transfer payment) | Nil | |
| Consumer disconnections and reconnections carried out by "Other" business (transfer payment) | Nil | |
| Charges for meter data carried out by "Other" business (transfer payment) | Nil | |
| Charges for providing consumer-based load control services carried out by "Other" business (transfer payment) | Nil |
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VUW Te Waharoa —
NZ Gazette 1999, No 144
NZLII —
NZ Gazette 1999, No 144
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Financial Statements for Bay of Plenty Electricity Limited
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