✨ Financial Statements Notes
NEW ZEALAND GAZETTE
No. 163
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2001
1. STATEMENT OF ACCOUNTING POLICIES
Reporting Entity
These financial statements are for the reporting entity of Transpower New Zealand Limited's Lines 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 are 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 2001. 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 receivable by the Transpower Lines Business for transmission services. Dividends received and interest income from investments are included within net finance costs.
(c) Goods and Services Tax (GST)
The Statement 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 Statement of Financial Position are stated net of GST with the exception of receivables and payables which include GST invoiced.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 163
Gazette.govt.nz —
NZ Gazette 2001, No 163
✨ LLM interpretation of page content
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Transpower New Zealand Limited Lines Business Financial Position
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🏭 Trade, Customs & Industry20 November 2001
Financial Position, Transpower, Lines Business, Assets, Liabilities, Equity