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New Zealand Gazette – 2000 – No. 97

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✨ Financial Statements

21 AUGUST NEW ZEALAND GAZETTE 2427

HORIZON ENERGY DISTRIBUTION LIMITED

Financial Statements for the purposes of the Electricity (Information Disclosure) Regulations 1999 and the Electricity (Information Disclosure) Amendment Regulations 2000

NOTES TO THE FINANCIAL STATEMENTS

9 FIXED ASSETS (Continued)

Valuation of Distribution Assets

Distribution assets are revalued on a cyclical basis with each class being revalued at least every three years.

Distribution assets were revalued at 31 March 2000. The value adopted is the Optimised Deprival Value of the distribution system as at 31 March 2000. The valuation report was prepared by Worley Consultants Limited (Registered Engineers) and independently verified by PricewaterhouseCoopers (Chartered Accountants). The valuation was performed in accordance with generally accepted valuation techniques.

The Optimised Deprival Value of the Distribution System as at 31 March 2000 was $65,563,818. This includes Land and Buildings of $435,502 which are separately disclosed in these accounts.

Useful lives and Depreciation Methods

	Useful Lives 2000 In Years	Useful Lives 1999 In Years
Land Improvements	3-40	3-40
Other Buildings	40-100	40-100
Distribution System	8-70	8-70
Plant and Equipment	2-10	2-10
Motor Vehicles	5-10	5-10
Furniture and Fittings	10	10

All assets are depreciated on a straight line basis.

	Lines Business 2000 $'000	Lines Business 1999 $'000

10 ACCOUNTS PAYABLE AND ACCRUALS

Accounts Payable and Accruals comprise:


Trade Creditors and Accruals	1,899	1,400
Employee Entitlements	122	179
Balance as at 31 March	2,021	1,579

VUW Te Waharoa — NZ Gazette 2000, No 97

Gazette.govt.nz — NZ Gazette 2000, No 97

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Financial Statements for Horizon Energy Distribution Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Financial Performance, Accounting Policies, Revenue, Depreciation, Fixed Assets, Inventories, Accounts Receivable, Taxation, Cash Flows, Financial Instruments

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