New Zealand Gazette – 1999 – No. 98

Page 2365

✨ Financial Statements and Notes

20 AUGUST NEW ZEALAND GAZETTE 2365

CHANGES IN ACCOUNTING POLICIES

These Accounts are prepared with a 31 March balance date for the sole purpose of complying with the requirements of the Electricity (Information Disclosure) Regulations 1999. Accrual Accounting methodology as recognised by the New Zealand Institute of Chartered Accountants has been used in the preparation of these accounts. Assumptions have been made which may subsequently prove to be incorrect. These Accounts are not comparable with the consolidated financial statements prepared at 30 June and published with the Company’s Annual Report. Depreciation of Network Assets (last ODV valuation at 31 March, 1998) is included for the first time. Metering and contracting equipment, associated revenue and costs have been eliminated from these Accounts.

NOTE 2. RECEIVABLES

	1999 $
Trade Debtors	1,332,858
Accruals	105,780
	$ 1,438,638

NOTE 3. FIXED ASSETS

| | ODV/
| | Cost Price $ | Accumulated Depreciation $ | Carrying Value $ | Carrying Value $ |
|--------------------|----------------|-------------------------------|------------------|------------------|
| System Fixed Assets| 33,903,889 | 1,365,436 | 32,538,453 | 33,279,630 |
| Motor Vehicles | 54,754 | 26,009 | 28,745 | 37,516 |
| Office Equipment & | 653,643 | 447,811 | 205,832 | 243,575 |
| Furniture | | | | |
| Land & Buildings | 308,665 | 54,108 | 254,557 | 255,541 |
| Plant & Equipment | 166,328 | 107,668 | 58,660 | 39,150 |
| | 35,087,279 | 2,001,032 | 33,086,247 | 33,855,412 |

NOTE 4. CAPITAL WORK IN PROGRESS

	1999 $
Subtransmission	274,390
Zone Substations	379,956
Distribution Lines and Cables	100,746
Switchgear	35,125
Distribution Transformers	147,174
LV Lines and Cables	364,858
Other System Fixed Assets	443,803
	$ 1,746,052

NOTE 5. UNITED ELECTRICITY LIMITED

Electricity Invercargill Limited’s 13% interest in United Electricity Limited was sold on 1 October, 1998; funds from this transaction are excluded from the Line Business.

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VUW Te Waharoa — NZ Gazette 1999, No 98

NZLII — NZ Gazette 1999, No 98

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✨ LLM interpretation of page content

💰 Financial Statements for Electricity Invercargill Limited (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Accounting Policies, Electricity Invercargill Limited, Depreciation, Fixed Assets

💰 Changes in Accounting Policies

Domain💰 Finance & Revenue
KeywordsAccounting Policies, Balance Date, Accrual Accounting, Depreciation, Network Assets

💰 Receivables

Domain💰 Finance & Revenue
KeywordsTrade Debtors, Accruals

💰 Fixed Assets

Domain💰 Finance & Revenue
KeywordsSystem Fixed Assets, Motor Vehicles, Office Equipment, Furniture, Land & Buildings, Plant & Equipment

💰 Capital Work in Progress

Domain💰 Finance & Revenue
KeywordsSubtransmission, Zone Substations, Distribution Lines and Cables, Switchgear, Distribution Transformers, LV Lines and Cables, Other System Fixed Assets

💰 United Electricity Limited

Domain💰 Finance & Revenue
KeywordsUnited Electricity Limited, Interest Sale

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