New Zealand Gazette – 2003 – No. 106

Page 2799

✨ Financial Statements



19 AUGUST

NEW ZEALAND GAZETTE

2799

f) Accounts Receivable

Receivables are shown at net realisable value. All known bad debts have been written off during the year.

g) Inventories

Inventories are valued at the lower of cost, determined on a weighted average cost basis, and net realisable value.

h) Goods and Services Tax (GST)

These financial statements have been prepared exclusive of GST with the exception of accounts receivable and accounts payable, which are shown inclusive of GST.

i) Allocation Methodologies

Allocations of costs, revenues, assets and liabilities have been allocated in accordance with the Electricity (Information Disclosure) Regulations 1999.

Changes in Accounting Policies

There have been no material changes in accounting policies. All accounting policies have been applied on bases consistent with those used in the previous year.

2 REVENUE

2003 2002
$ $
a) Revenue from line / access charges:
i) Revenue invoiced to customers by electricity retailer 16,013,596 14,608,728
ii) Revenue invoiced to customers by line owner 0 0
b) Revenue for services carried out by the line business 0 0
c) Income from interest on cash, bank balance and short term investments 5,413 34,093
d) AC loss – rental rebates 555,743 1,005,169
e) Other Revenue not listed in (a to d) 612,285 436,057
f) Total Operating Revenue 17,187,037 16,084,047

3 OPERATING EXPENDITURE

2003 2002
$ $
a) Transmission Charges 4,696,763 4,416,966
b) Transfer Payments to “Other” Business
i) Asset Maintenance 1,471,873 681,950
ii) Consumer Disconnection and Reconnection Services 0 0
iii) Meter Data 0 0
iv) Consumer – based load control Services 24,068 15,497
v) Royalty and Patent expense 0 0
vi) Avoided transmission charges for own generation 0 0
vii) Other Goods and Services not listed in (i to vi)
Total transfer payment to the “Other” Business 1,495,941 697,447
c) Expense to entities that are not related parties for -
i) Asset Maintenance 106,533 56,713
ii) Consumer Disconnection and Reconnections Services 0 0
iii) Meter Data 0 0
iv) Consumer – based load control Services 21,061 7,163
v) Royalty and Patent expense 0 0
Total of specified expenses to non-related parties 127,594 63,876


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 106


Gazette.govt.nz — PDF NZ Gazette 2003, No 106




✨ LLM interpretation of page content

🌾 Certification of Financial Statements for Electricity Ashburton Limited (continued from previous page)

🌾 Primary Industries & Resources
30 July 2003
Financial statements, Certification, Electricity Ashburton Limited, Audited, Compliance