New Zealand Gazette – 2004 – No. 119

Page 2883

✨ Financial Statements and Accounting Policies

14 SEPTEMBER 2004
NEW ZEALAND GAZETTE, No. 119
2883

POWERCO LIMITED
Notes to the Financial Statements
For the year ended 31 March 2004

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.

VUW Te Waharoa — NZ Gazette 2004, No 119

Gazette.govt.nz — NZ Gazette 2004, No 119

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✨ LLM interpretation of page content

🏭 Powerco Limited Gas Information Disclosure Certification (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated30 August 2004
KeywordsGas, Information Disclosure, Regulations, Powerco, Financial Statements, Certification, Deloitte

🏭 Notes to the Financial Statements of Powerco Limited

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Accounting Policies, Powerco Limited, Companies Act 1993, Energy Companies Act 1992, Gas Information Disclosure Regulations 1997

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