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New Zealand Gazette – 2000 – No. 111

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✨ Financial Statements Notes

2790 NEW ZEALAND GAZETTE No. 111

UnitedNetworks Limited

2.5 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

For the year ended 31 March 2000

1) Statement of Accounting Policies

Special Purpose Financial Statements
These financial statements are made pursuant to UnitedNetworks’ obligations under the Electricity (Information Disclosure) Regulations 1999 read with Electricity (Information Disclosure) Amendment Regulations 2000. They are in addition to the company’s financial statements published pursuant to the company’s obligations under the Companies Act 1993 and the Financial Reporting Act 1993.

The Line business unit is treated as the core business activity and corporate activities are accounted for through the Line and other business unit financial statements.

In these statements UnitedNetworks has adopted the avoidable cost allocation methodology stipulated in the Electricity Information Disclosure Handbook issued on 30th June 2000.

General Accounting Policies
The general accounting principles as recommended by the Institute of Chartered Accountants of New Zealand for the measurement and reporting of operating surplus on a historical cost basis have been followed by the company with the exception of Distribution Network System Assets, which have been revalued to their Optimised Deprival Value (ODV) in accordance with the treatment outlined in the Electricity Information Disclosure Handbook. This is more fully explained within the particular accounting policy for Fixed Assets.

Particular Accounting Policies
The following particular accounting policies which materially affect the measurement of the financial performance and position have been applied:

Consolidation
These financial statements include the results of Horizon Energy Distribution Limited, a 52% owned subsidiary, as an aggregation of the line business components only until the effective date of disposal.

VUW Te Waharoa — NZ Gazette 2000, No 111

Gazette.govt.nz — NZ Gazette 2000, No 111

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✨ LLM interpretation of page content

🏭 Notes to Financial Statements of UnitedNetworks Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial, Statements, Notes, Accounting Policies, UnitedNetworks Limited, Electricity, Information Disclosure

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