New Zealand Gazette – 2003 – No. 116

Page 3159

✨ Financial Statements



POWERCO LIMITED

Notes to the Financial Statements

For the year ended 31 March 2003

  1. Statement of Accounting Policies

Reporting Entity

Powerco Limited is a company registered under the Companies Act 1993. The group consists of Powerco Limited and its subsidiaries.

The following activities were the principal activities undertaken by Powerco Limited throughout the period:

  • Distribution of electricity and value added services.
  • Distribution of gas and value added services.

These financial statements have been prepared to comply with the provisions of Section 44 of the Energy Companies Act 1992, the Companies Act 1993, and the Financial Reporting Act 1993 and the Gas (Information Disclosure) Regulations 1997.

Measurement Basis

The Group follows the accounting principles recognised as appropriate for the measurement and reporting of earnings and financial position on an historical cost basis.

Specific Accounting Policies

The following specific accounting policies, which materially affect the measurement of financial performance and the financial position, have been applied:

a) Basis of Consolidation

The consolidated financial statements include those of Powerco Limited and its subsidiaries, accounted for using the purchase method.

b) Property, Plant and Equipment

All property, plant and equipment values are stated at cost, less accumulated depreciation.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 116


Gazette.govt.nz — PDF NZ Gazette 2003, No 116




✨ LLM interpretation of page content

🏭 Powerco Limited Financial Performance Statement (continued from previous page)

🏭 Trade, Customs & Industry
21 August 2003
Financial Performance, Operating Revenue, Taxation, Powerco Limited