New Zealand Gazette – 2000 – No. 83

Page 1973

✨ Financial Statements Notes



26 JULY NEW ZEALAND GAZETTE 1973

WAIPA NETWORKS LIMITED - LINES BUSINESS

NOTES TO AND FORMING PART OF THE
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2000

1 STATEMENT OF ACCOUNTING POLICIES

General Accounting Policies

Waipa Networks Limited (Formerly Waipa Power Limited to the 30 June 1999) is a company registered under the Companies Act 1993. The financial statements have been prepared for the purpose of complying with the requirements of the Electricity (Information Disclosure) Regulations 1999 (the Regulations) as amended by the Electricity (Information Disclosure) Amendment Regulations 2000.

The general accounting policies recognised as appropriate for the measurement and reporting of performance, cash flows and financial position under the historical cost method, as modified by the revaluation of certain assets, have been followed in the preparation of these financial statements.

Particular Accounting Policies

The following particular accounting policies which materially affect the measurement of profit and the financial position have been applied:

a) Network Charges

Income from Network charges includes an estimated amount for accrued sales from meters unread as at 31 March 2000.

b) Fixed Assets

The Company has five classes of fixed assets as follows:
Freehold Land
Freehold Buildings
Reticulation Assets
Motor Vehicles
Plant, Furniture & Fittings

The Reticulation Assets were revalued on an optimised depreciated replacement cost basis by independent valuers on 1 April 1998 and subsequently will be revalued at least every 3 years. Additions to the Reticulation Assets since revaluation are stated at cost.

Assets constructed by the company are capitalised at direct cost plus a proportion of indirect overheads.

All other fixed assets are recorded at cost less accumulated depreciation.

c) Capital Contributions

Contributions towards the cost of additions to the Reticulation Assets are recognised as income when received.


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2000, No 83


Gazette.govt.nz — PDF NZ Gazette 2000, No 83




✨ LLM interpretation of page content

🏭 Notes to Financial Statements for Waipa Networks Limited (continued from previous page)

🏭 Trade, Customs & Industry
31 March 2000
Financial Statements, Accounting Policies, Network Charges, Fixed Assets, Capital Contributions, Waipa Networks Limited