New Zealand Gazette – 1995 – No. 82

Page 2264

✨ Financial Statements



2264 NEW ZEALAND GAZETTE No. 82

ALPINE ENERGY LIMITED

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1995
(CONTINUED)

1995
$’000

  1. OPERATING REVENUE

Operating revenue comprises:

Transmission & Distribution Charges 13,223
Contracting Revenue 2,538
Consumer Contributions 334
Rent 89
Miscellaneous 78

                                           16,262
  1. ELECTRICITY SALES ADJUSTMENT

The Company sold its energy trading business to United Electricity on 31 January 1994. Part of the value of the business related to the accrual of unbilled sales as at that date. The figure taken into the Company’s financial statements for the period to 31 March 1994 was the best estimate available at that time. In preparing financial statements for the period ended 30 June 1994, United Electricity Limited amended the methodology for estimating the accrual of unbilled sales.

Consequently the estimate for 31 January 1994 was revised, after the Company’s financial statements for the period to 31 March 1994 had been finalised and published. The increase in the value of the accrual for unbilled sales ($400,295) is recorded as income in the current year. This is a non-recurring item.

  1. TAXATION

4.1 Taxation Charge

Net Profit before Tax 4,642
Add/(Deduct)
Non Deductible Costs 219
Deductible Expenditure Provided for in Prior Years (66)

Taxable Income 4,795

Taxation Charge @ 33% 1,582
Prior Year Under Provisions 12

Tax Expense 1,594



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🏭 Alpine Energy Limited Financial Statements (continued from previous page)

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Financial Statements, Operating Revenue, Electricity Sales Adjustment, Taxation Charge, Alpine Energy Limited