New Zealand Gazette – 2006 – No. 143

Page 4137

✨ Financial Statements



20 NOVEMBER 2006
NEW ZEALAND GAZETTE, No. 143
4137

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

a) Revenue from line / access charges;

i) Revenue invoiced to customers by electricity retailer  20,942,004    19,071,738

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 24,366 4,226

d) AC loss – rental rebates 1,085,155 470,939

e) Other Revenue not listed in (a to d) 1,328,416 1,075,676

f) Total Operating Revenue 23,379,941 20,622,579

3 OPERATING EXPENDITURE

a) Transmission Charges 5,919,780 5,639,487

b) Transfer Payments to "Other" Business

i) Asset Maintenance                                  1,270,005    797,538

ii) Consumer Disconnection and Reconnection Services        0            0

iii) Meter Data                                         0            0

iv) Consumer – based load control Services               46,745      38,433

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          1,316,750    835,971

c) Expense to entities that are not related parties for -

i) Asset Maintenance                                    875       76,845

ii) Consumer Disconnection and Reconnections Services       0            0

iii) Meter Data                                         0            0

iv) Consumer – based load control Services                  0        5,362

v) Royalty and Patent expense                             0            0

Total of specified expenses to non-related parties        875       82,207


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 143


Gazette.govt.nz — PDF NZ Gazette 2006, No 143




✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
Financial statements, Accounting policies, Revenue recognition, Depreciation, Income taxation, Asset valuation, Electricity, Ashburton