New Zealand Gazette – 2003 – No. 3

Page 92

✨ Financial Statements



92

NEW ZEALAND GAZETTE

No. 3

Cashflows From Investing Activities
Cash was provided from:
Sale of assets

  •                -

    Cash was disbursed to:
    Purchase of fixed assets
    9,229 6,501
    Net cash inflows/(outflows) from investing activities
    (9,229) (6,501)

Cashflows From Financing Activities
Cash was provided from:
Proceeds of borrowings
3,200 -
3,200 -
Cash was disbursed to:
Repayment of term liabilities

  •                1,200

    Dividend distributions
    7,666 6,000
    7,666 7,200
    Net cash inflows/(outflows) from financing activities
    (4,466) (7,200)
    Net increase/(decrease) in cash held
    (235) (21)
    Cash at beginning of year
    (75) (54)
    Cash at End of Year
    (310) (75)

STATEMENT OF ACCOUNTING POLICIES

SPECIAL PURPOSE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with the requirements of the Electricity (Information Disclosure) Regulations 1999 and Amendment Regulations 2000 and 2001, and relate to:

  • The Company’s Line Business incorporating the conveyance of electricity, ownership of works for conveyance of electricity and provision of line function services.
  • DELTA Utility Services Ltd is a 100% owned subsidiary of Dunedin Electricity Ltd.

SPECIFIC ACCOUNTING POLICIES

In accordance with clause 6 of the Regulations, the methodology adopted to allocate costs, revenues, assets and liabilities among the businesses is in accordance with the Guidelines.

The particular accounting policies adopted in the preparation of these financial statements are:

(a) Revenue
Revenue shown in the Statement of Financial Performance for the Line Business relates to the provision of electricity distribution.

(b) Expenditure
Expenditure shown in the Statement of Financial Performance is derived as follows:

Line Business

  • Transmission charges, employee remuneration, administration and operating expenses are directly attributable to the Line Business.
  • Maintenance and operation is provided in accordance with a 10 year Asset Management Services Contract with DELTA Utility Services Ltd.
  • Other costs are allocated in accordance with the avoidable cost allocation methodology.


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2003, No 3


Gazette.govt.nz — PDF NZ Gazette 2003, No 3




✨ LLM interpretation of page content

💰 Financial Statements and Equity Movements (continued from previous page)

💰 Finance & Revenue
10 January 2003
Operating Surplus, Interest Expense, Income Tax, Equity, Cashflows, Investing Activities, Financing Activities, Accounting Policies