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New Zealand Gazette – 2000 – No. 102

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✨ Financial Statements Notes

2536 NEW ZEALAND GAZETTE No. 102

Counties Power Limited – Line Business

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2000

1. STATEMENT OF ACCOUNTING POLICIES

These financial statements are presented in accordance with Regulation 6 of the Electricity (Information Disclosure) Regulations 1999.

REPORTING ENTITY

Counties Power’s electricity business for the year ended 31 March 2000 consisted of line business activities, electrical construction, garage workshop services and other related activities. To provide the best service to customers these activities were undertaken as a single operation. Accordingly statutory financial reporting and management reporting do not distinguish between line business and other business activities. For the purposes of these financial statements the reporting entity has been established using the prescribed allocation methodology to provide accounting separation.

GENERAL ACCOUNTING POLICIES

The general accounting policies recognised as appropriate for the measurement and reporting of results, cash flows and the financial position based on historical cost, have been followed. Accrual accounting is used to match expenses and revenues.

Reliance is placed on the fact that the Company is a going concern.

PARTICULAR ACCOUNTING POLICIES

The following particular accounting policies which materially affect the measurement of financial performance and financial position are consistently applied:

Sales

Sales shown in the statement of financial performance comprise the amounts received and receivable by the company for goods supplied to customers in the ordinary course of business. The sales are shown exclusive of Goods and Services Tax collected from customers.

VUW Te Waharoa — NZ Gazette 2000, No 102

Gazette.govt.nz — NZ Gazette 2000, No 102

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✨ LLM interpretation of page content

🏭 Counties Power Limited Financial Performance (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Financial Performance, Revenue, Expenditure, Surplus, Tax, Equity, Dividend

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