New Zealand Gazette – 2006 – No. 166

Page 4790

✨ Financial Statements



Network Tasman Limited

Line Business Financial Statements

Notes to and forming part of the financial statements
For the year ended 31 March 2006

1. Statement of accounting policies

Reporting entity

The reporting entity is Network Tasman Limited.

Statutory base

Network Tasman Limited is a company registered under the Companies Act 1993.

The financial statements have been prepared in accordance with, and for the purposes of, complying with the requirements of the Electricity Information Disclosure Requirements 2004.

Measurement base

The financial statements have been prepared on the basis of historical cost with the exception of distribution system assets, which are stated at valuation.

The financial statements comprise statements of financial performance, movements in equity, financial position, cash flows and notes to these statements.

Accounting policies

The financial statements have been prepared in accordance with generally accepted accounting practice in New Zealand. The accounting policies that materially affect the measurement of financial performance, financial position and cash flows are set out below:

(a) Revenue

Line revenue
Retailer-owned electricity meters are read on the basis of constant cycles each year. Line revenues include an estimated amount for accrued sales as at 31 March 2005.

Customer contributions
Distribution system assets vested from consumers to the company are credited to the statement of financial performance at fair value.

(b) Property, plant and equipment

Recognition of property, plant and equipment
The company has the following classes of property, plant and equipment:

  • Distribution system assets
    • Primary distribution assets
    • Secondary distribution assets
    • Substation assets
    • Load control plant
    • Streetlights
    • Consumer connection assets
    • Communication assets


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 166


Gazette.govt.nz — PDF NZ Gazette 2006, No 166




✨ LLM interpretation of page content

🏭 Network Tasman Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
15 November 2006
Financial Statements, Accounting Policies, Revenue, Property, Plant and Equipment, Network Tasman Limited