✨ Financial Statement
30 AUGUST
NEW ZEALAND GAZETTE
2915
WEL ENERGY GROUP LIMITED
Expenditure
Where a segment of the Group performs line activities in addition to other functions each item of expenditure incurred by that segment has been allocated to the line business in proportion to the total level of line business activity undertaken by the segment. This has been achieved using the following methodologies:
Customer services/billing 10% Lines
Marketing Revenue
Bank Balances
Cash and bank balances have been allocated based on cash movements as per the cash flow statement.
Fixed Assets
Fixed assets used by both the line and another activity have been allocated to the line business on the following basis:
Motor vehicles Weighted staff numbers
Plant, Furniture and equipment Weighted staff numbers
Items have been weighted by multiplying the value attributable to Other by 33%
Creditors
Creditors not directly attributable to the line business have been allocated in proportion to the expenditure allocation as noted above.
Provision for Annual and Long Service Leave
The amount of the provision attributable to employees working on both the line business and other activities has been allocated to the line business in proportion to wages expenditure.
C. Changes in Accounting Policy
There have been no changes in accounting policies during the year.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 116
Gazette.govt.nz —
NZ Gazette 2000, No 116
✨ LLM interpretation of page content
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Wel Energy Group Limited Statement of Accounting Policies
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🏭 Trade, Customs & Industry19 July 2000
Financial Statement, Accounting Policies, Income Tax, Trade Debtors, Revenue Recognition, Inventories, Wel Energy Group Limited, Fixed Assets, Depreciation, Line Business Split