✨ Financial Statements
22 AUGUST NEW ZEALAND GAZETTE 2537
Line Revenue
Line revenue is mainly charged to Electricity Retailers based upon the volume of energy transmitted through lines. The volume of energy upon which invoicing is based, is advised to the Company by Electricity Retailers. This information is in turn based upon a combination of actual meter reads and assessments.
In the year ended 31 March 1999 line revenue was derived from direct billing of end use customers.
Accounts Receivable
Accounts receivable are stated at expected net realisable value after providing against debts where collection is doubtful.
Statement of Cash Flows
The following are the definitions of the terms used in the statement of cash flows:
a) Cash is considered to be cash on hand, current accounts in banks net of bank overdrafts and short term deposits with banks.
b) Investing activities are those activities relating to the acquisition, holding and disposal of fixed assets and investments. Investments include securities not falling within the definition of cash.
c) Financing activities are those activities which result in changes in the size and composition of the equity and debt structure of the Company. Dividends paid in relation to the capital structure are included in financing activities.
d) Operating activities include all transactions and other events that are not investing or financing activities.
Fixed Assets
Fixed assets are stated at cost less accumulated depreciation, less any amount written off for permanent impairment in value.
The cost of purchased fixed assets is the value of the consideration given to acquire the assets and the value of other directly attributable costs which have been incurred in bringing the assets to the location and condition necessary for their intended service.
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 102
Gazette.govt.nz —
NZ Gazette 2000, No 102
✨ LLM interpretation of page content
🏭
Counties Power Limited Financial Performance
(continued from previous page)
🏭 Trade, Customs & IndustryElectricity, Financial Performance, Revenue, Expenditure, Surplus, Tax, Equity, Dividend