New Zealand Gazette – 2000 – No. 120

Page 3048

✨ Electricity Financial Statements



3048 NEW ZEALAND GAZETTE No. 120

Future tax benefits attributable to tax losses or timing differences are only realised when there is virtual certainty of realisation.

e) Valuation of Assets

Land is stated at cost, all other fixed assets (except distribution assets) are stated at cost less accumulated depreciation.

All distribution system assets were revalued on an Optimised Deprival Value (ODV) basis by PriceWaterhouseCoopers as at 31 March 2000. All additions to the distribution network are recorded at cost. Distribution system assets will be revalued at least once every three years.

f) Accounts Receivable

Receivables are shown at net realisable value. All known bad debts have been written off during the year.

g) Inventories

Inventories are valued at the lower of cost, determined on a weighted average cost basis, and net realisable value.

h) Goods and Services Tax (GST)

These financial statements have been prepared exclusive of GST with the exception of accounts receivable and accounts payable which are shown inclusive of GST.

i) Allocation Methodologies

Allocation of costs, revenues, assets and liabilities have been allocated in accordance with the Electricity (Information Disclosure) Regulations 1999.

Changes in Accounting Policies

There have been no material changes in accounting policies. All accounting policies have been applied on bases consistent with those used in the previous year.

2 REVENUE

2000 1999
a) Line / access charges 13,011,293 11,686,443
b) Other services carried out by the line business 0 0
c) Interest on cash, bank balance and short term investments 251,980 334,220
d) AC loss - rental rebates 0 0
e) Other Revenue not listed in (a to d) 493,435 142,274
f) Total Operating Revenue 13,756,705 12,162,937

3 OPERATING EXPENDITURE

2000 1999
a) Transmission Charges 3,954,322 3,454,518
b) Transfer Payments to the "Other" Business for -
i) Asset Maintenance 1,117,141 1,540,284
ii) Consumer Disconnection and Reconnection Services 0 5,062
iii) Meter Data 0 10,742
iv) Consumer-based load control Services 22,361 5,004
v) Royalty and Patent expense 0 0
vi) Avoided transmission charges for own generation 0 0
vii) Other Goods and Services not listed in (i to vi) 0 0
Total transfer payment to the "Other" Business 1,139,502 1,561,092


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 120


Gazette.govt.nz — PDF NZ Gazette 2000, No 120




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🏭 Electricity Ashburton Limited Notes to Financial Statements (continued from previous page)

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Electricity, Financial Statements, Accounting Policies, Revenue, Depreciation, Income Taxation, Ashburton