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New Zealand Gazette – 2000 – No. 162

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✨ Financial Statements Notes

NEW ZEALAND GAZETTE

No. 162

TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2000

1. STATEMENT OF ACCOUNTING POLICIES

Reporting Entity

These financial statements are for the reporting entity of Transpower New Zealand Limited’s Line Business (The Transpower Lines Business).

The financial statements are presented in accordance with the State-Owned Enterprises Act 1986, the Financial Reporting Act 1993 and the Electricity (Information Disclosure) Regulations 1999 as amended by the Electricity (Information Disclosure) Amendment Regulations 2000.

The Electricity Information Disclosure Handbook has been followed in the preparation of these financial statements.

Measurement Base

The measurement basis is historical cost except as modified by the revaluation of certain assets and investments.

The avoidable cost allocation methodology is used for allocating costs and assets and liabilities between the Lines business and other businesses.

Accounting Policies

The following accounting policies have been applied.

(a) Principles of Consolidation

The Transpower Lines Business financial statements are prepared from the financial statements of Transpower and its subsidiaries which undertake lines business activities, as at 30 June 2000. The purchase method is used to consolidate subsidiary companies. All significant transactions between group companies are eliminated on consolidation.

(b) Revenue

Revenue shown in the Statement of Financial Performance comprises the amounts received and receivable by the Transpower Lines Business for transmission services and lease revenue. Dividends received and interest income from investments are included within net finance costs.

The Statements of Financial Performance and the Statements of Cash Flows have been prepared so that all components are stated exclusive of GST. All items in the Statements of Financial Position are stated net of GST with the exception of receivables and payables which include GST invoiced.

VUW Te Waharoa — NZ Gazette 2000, No 162

Gazette.govt.nz — NZ Gazette 2000, No 162

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Transpower New Zealand Limited Statement of Cashflows (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Accounting Policies, Transpower, 2000

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