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New Zealand Gazette – 2001 – No. 118

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✨ Electricity Financial Statements

ELECTRICITY ASHBURTON LIMITED - LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2001

1 STATEMENT OF ACCOUNTING POLICIES

Statutory Base

Electricity Ashburton Limited is a Co-operative company registered under the Co-operative Companies Act 1996.

These financial statements have been prepared for the purpose of complying with the requirements of the Electricity (Information Disclosure) Regulations 1999 from the financial statements of Electricity Ashburton Limited as at 31 March 2001.

Measurement Base

The accounting principles recognised as appropriate for the measurement and reporting of financial performance and financial position on a modified historic cost basis have been followed.

Accounting Policies

a) Revenue

Line revenue is recognised as actual amounts invoiced during the period.
Capital contributions are recognised as revenue in the year of receipt.

b) Transmission Charges

Transmission charges are recognised as a direct cost to the line business activity.

c) Depreciation

Depreciation has been provided on all tangible fixed assets other than freehold land on the following basis and at the following rates which amortise the cost of the asset over their economic lives.

Fixed Assets:

Distribution Network 1.4% to 6.7% straight line
Buildings
- concrete 1% straight line
- brick 2% straight line
- wooden 2.5% straight line
Motor Vehicles 14.4% to 31.2% diminishing value
Plant & Equipment 7.5% to 60.0% diminishing value

Depreciation has been charged on a monthly basis on assets acquired and which became operational during the month.

VUW Te Waharoa — NZ Gazette 2001, No 118

Gazette.govt.nz — NZ Gazette 2001, No 118

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

✨ LLM interpretation of page content

🏭 Certification of Financial Statements, Performance Measures, And Statistics Disclosed by Line Owners other than Transpower (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated22 August 2001
KeywordsElectricity, Financial Statements, Performance Measures, Certification, Ashburton Limited

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