New Zealand Gazette – 2008 – No. 35

Page 815

✨ Financial Statements



25 FEBRUARY 2008

NEW ZEALAND GAZETTE, No. 35

815

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.

REVENUE

2007 2006
$ $
a) Revenue from line / access charges:
i) Revenue invoiced to customers by electricity retailer 22,786,978 20,942,004
ii) Revenue invoiced to customers by line owner 0 0
b) Revenue for services carried out by the line business
c) Income from interest on cash, bank balance and short term investments 27,881 24,366
d) AC loss – rental rebates 867,785 1,085,155
e) Other Revenue not listed in (a to d) 1,022,215 1,328,416
f) Total Operating Revenue 24,704,859 23,379,941

OPERATING EXPENDITURE

2007 2006
$ $
a) Transmission Charges 6,163,883 5,919,780
b) Transfer Payments to "Other" Business
i) Asset Maintenance 1,689,990 1,270,005
ii) Consumer Disconnection and Reconnection Services 0 0
iii) Meter Data 0 0
iv) Consumer – based load control Services 13,541 46,745
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 1,703,531 1,316,750
c) Expense to entities that are not related parties for -
i) Asset Maintenance 1,123,982 875
ii) Consumer Disconnection and Reconnections Services 0 0
iii) Meter Data 0 0
iv) Consumer – based load control Services 0 0
v) Royalty and Patent expense 0 0
Total of specified expenses to non-related parties 1,123,982 875


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VUW Te Waharoa — PDF NZ Gazette 2008, No 35


Gazette.govt.nz — PDF NZ Gazette 2008, No 35




✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
31 March 2007
Financial Statements, Accounting Policies, Revenue, Depreciation, Income Taxation, Asset Valuation, Electricity Ashburton Ltd