New Zealand Gazette – 1995 – No. 108

Page 3434

✨ Financial Statements Notes



3434
NEW ZEALAND GAZETTE
No. 108

NOTES TO THE FINANCIAL STATEMENTS

(k) Foreign Currencies

Transactions in foreign currencies are converted at the New Zealand rate of exchange ruling at the date of the transaction.

At balance date foreign monetary assets and liabilities are translated at the closing rate, and exchange variations arising from these translations are included in the Statement of Financial Performance.

(l) Statement of Movements in Equity

The company has elected to apply the provisions of FRS-2 in this reporting period which is prior to the specified application date of the standard.

(m) Cash

Cash includes cash on hand, net cash at bank, call deposits and securities which may be converted to cash at the company's option within no more than two working days.

(n) Changes in Accounting Policies

There were no significant changes in Accounting Policies.

  1. REVENUE
TOTAL $000 LINE $000 ENERGY $000
Appliance Sales and Servicing 1,651 0 1,651
Sales of Electricity 25,798 14,113 11,685
Other Miscellaneous Income 1,749 467 1,282
Total Revenue 29,198 14,580 14,618
  1. NET SURPLUS BEFORE TAXATION

Is stated after taking into account the following :

Income from :

Interest received 389 357 32

Charges in respect of :

Audit Fees and expenses 30 23 7
Depreciation 1,402 1,303 99
Directors' Fees 70 54 16
Interest on Borrowings 336 336 0
Rental and operating lease costs 135 117 18
Research and Development 113 0 113
Foreign Currency Losses 11 11 0



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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Eastland Energy Limited (continued from previous page)

🏭 Trade, Customs & Industry
Foreign Currencies, Exchange Rates, Equity, Cash, Accounting Policies, Revenue, Appliance Sales, Electricity Sales, Interest, Audit Fees, Depreciation, Directors' Fees, Borrowings, Lease Costs, Research and Development