✨ Financial Statements Notes
THE LINES COMPANY LIMITED
Lines Business Activity
Notes to the Financial Statements
For the Year Ended 31st March 2002
(f) Basis of Allocations to Business Units
In general the Ministry of Economic Development guidelines for allocation of income and expenditure have been applied. Deviations from the guidelines have been used where assumptions made in the guidelines have not held true for The Lines Company Limited. These are as follows:
Various overhead costs that are an integral part of operating each business and have been allocated according to relative fixed assets involved in each business.
Interest costs allocated to the Lines Business reflects those costs associated with the Subordinated Debt and the Swap loan. The Subordinated Debts were set up to ensure the fair cost allocation of low density customers.
(j) Comparative Figures
Comparative figures have not been changed from those reported in prior periods, despite changes to the Financial Statements preparation basis as set by the Ministry of Economic Development.
(k) Changes in Accounting Policies
There have been no changes in the accounting policies during the year.
(l) Statement of Cash Flows
The Statement of Cash Flows is prepared exclusive of GST, which is consistent with the method used in the Statement of Financial Performance.
Definitions of the terms used in the Statement of Cash Flows:
"Cash" includes coins and notes, demand deposits and other highly liquid investments readily convertible into cash and includes at call borrowings such as bank overdrafts, used by the company and the group as part of their day-to-day cash management.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 95
Gazette.govt.nz —
NZ Gazette 2002, No 95
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Notes to the Financial Statements for The Lines Company Limited
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