New Zealand Gazette – 2001 – No. 87

Page 2239

✨ Financial Statements

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 Depreciated Replacement Cost (which was the same as Optimised Deprival Value for that valuation) of the distribution system as at 31 March 2000. The valuation report was prepared by Meritec Limited (Registered Engineers). These Statements also reflect a revision of the 31 March 2000 valuation due to compliance with the 4th edition of the Handbook for Optimised Deprival Valuation of System Fixed Assets of Electricity Line Businesses.

Useful lives and Depreciation Methods

	Useful Lives 2001 In Years	Useful Lives 2000 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 2001 $'000	Lines Business 2000 $'000

10 ACCOUNTS PAYABLE AND ACCRUALS

Accounts Payable and Accruals comprise:

	$'000	$'000
Trade Creditors and Accruals	3,462	1,899
Employee Entitlements	115	122
Balance as at 31 March	3,577	2,021

VUW Te Waharoa — NZ Gazette 2001, No 87

Gazette.govt.nz — NZ Gazette 2001, No 87

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✨ LLM interpretation of page content

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

Domain🏗️ Infrastructure & Public Works
KeywordsElectricity, Financial Statements, Revenue, Expenditure, Horizon Energy Distribution Limited, Fixed Assets, Land, Buildings, Plant and Equipment, Furniture and Fittings, Motor Vehicles, Consumer Billing and Information System Equipment, Office Equipment, System Fixed Assets, Valuation, Depreciation, Accounts Payable, Accruals, Trade Creditors, Employee Entitlements

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