New Zealand Gazette – 2005 – No. 19

Page 433

✨ Financial Statements



19 JANUARY 2005 NEW ZEALAND GAZETTE, No. 19 433

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 Requirements 2004.

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

2004 2003
$ $
a) Revenue from line / access charges;
i) Revenue invoiced to customers by electricity retailer 17,204,593 16,013,596
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 10,435 5,413
d) AC loss – rental rebates 754,182 555,743
e) Other Revenue not listed in (a to d) 1,837,515 612,285
f) Total Operating Revenue 19,806,725 17,187,037

3 OPERATING EXPENDITURE

2004 2003
$ $
a) Transmission Charges 5,130,031 4,696,763
b) Transfer Payments to “Other” Business
i) Asset Maintenance 862,550 1,471,873
ii) Consumer Disconnection and Reconnection Services 0 0
iii) Meter Data 0 0
iv) Consumer – based load control Services 35,802 24,068
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) 0 0
Total transfer payment to the “Other” Business 698,352 1,495,941
c) Expense to entities that are not related parties for -
i) Asset Maintenance 112,729 106,533
ii) Consumer Disconnection and Reconnections Services 0 0
iii) Meter Data 0 0
iv) Consumer – based load control Services 11,775 21,061
v) Royalty and Patent expense 0 0
Total of specified expenses to non-related parties 124,504 127,594


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 19


Gazette.govt.nz — PDF NZ Gazette 2005, No 19




✨ LLM interpretation of page content

🏭 Electricity Ashburton Ltd Notes to Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Financial Statements, Accounting Policies, Revenue, Operating Expenditure, Ashburton