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New Zealand Gazette – 1995 – No. 112

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✨ Financial Statements Notes

9 OCTOBER
NEW ZEALAND GAZETTE
3529

MERCURY ENERGY LIMITED AND SUBSIDIARIES

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 1995

Electricity (Information Disclosure) Regulations 1994.

STATEMENT OF ACCOUNTING POLICIES

Reporting Entity

Mercury Energy Limited is a public company registered under the Companies Act 1955.

The group consists of Mercury Energy Limited and its subsidiaries.

The Financial Statements are prepared pursuant to Regulation 6 of the Electricity (Information Disclosure) Regulations 1994.

The methodology for the allocation of revenues, costs, assets and liabilities between Line and Other activities is publicly disclosed in accordance with Regulation 19 of the Regulations.

Generally Accepted Accounting Principles

There is no G.A.A.P. for activity reporting.

Measurement Base

The accounting principles recognised as appropriate for the measurement and reporting of earnings and financial position on an historical cost basis are followed by the group.

The activity reporting has been prepared on the basis of a notional 50:50 debt equity ratio in the Lines Business.

All costs have been allocated in accordance with either the guidelines issued, or as disclosed by the company.

Specific Accounting Policies

The following specific accounting policies which materially affect the measurement of financial performance and the financial position have been applied :

a) Basis of Consolidation
The consolidated financial statements include the holding company and its subsidiaries, accounted for by the purchase method. All significant inter-company transactions are eliminated on consolidation.

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VUW Te Waharoa — NZ Gazette 1995, No 112

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✨ LLM interpretation of page content

🏭 Notes to Financial Statements of Mercury Energy Limited and Subsidiaries (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial statements, Accounting policies, Electricity regulations, Consolidation

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