✨ Financial Statements Notes
13 AUGUST
NEW ZEALAND GAZETTE
2703
MAINPOWER NEW ZEALAND LTD
Notes to and Forming Part of the Financial Statements
For The Year Ended 31 March 2002
method. Deferred tax assets attributable to timing differences or tax losses are only recognised if there is virtual certainty of realisation.
1.3 Goods and Services Tax
The financial statements have been prepared exclusive of goods and services tax (GST) with the exception of receivables and payables which include GST invoiced.
1.4 Allocation of Costs, Revenues, Assets and Liabilities
The allocation of costs, revenues, assets and liabilities are in accordance with Regulation 6 of the Electricity (Information Disclosure) Regulations 1999 (as amended).
1.5 Business Accounting Separation
Lines Business
The Lines business provides and maintains the electricity distribution network throughout the North Canterbury and Kaikoura regions.
1.6 Rebate Shares
i) Redemption
Rebate Shares are only held by Qualifying Customers and the Trustees of the MainPower Trust. They are not transferable and are subject to compulsory redemption at a nominal value of ten (10) cents when a person ceases to be a Qualifying Customer of MainPower.
ii) Rebates
The Rebate Share entitles a Qualifying Customer to a rebate of fixed and variable distribution line charges. The accumulated rebate paid to Qualifying Customers is disclosed separately in the Statement of Financial Performance.
1.7 Changes in Accounting Policies
There have been no changes in accounting policies. All policies have been applied on a basis consistent with those used in previous years.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 99
Gazette.govt.nz —
NZ Gazette 2002, No 99
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Mainpower New Zealand Limited Financial Statements
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