✨ Financial Statements Notes
1 SEPTEMBER NEW ZEALAND GAZETTE 2751
TOP ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 1995
STATEMENT OF ACCOUNTING POLICIES
The financial statements are those of the Line and Energy Trading businesses of Top Energy Limited. Top Energy Limited is owned 100% by the Bay of Islands Electric Power Trust and are in a “Prescribed Business Relationship” as defined by Regulation 3(1)(a)(ii) of the Electricity (Information Disclosure) Regulations 1994.
The period reported is 1 April 1994 to 31 March 1995.
These financial statements are prepared in accordance with Regulations 6(2) and 6(3) of the Electricity (Information Disclosure) Regulations 1994. The financial statements have not been prepared for the purpose of the Financial Reporting Act 1993, or the Energy Companies Act 1992.
As this is the first year that the Regulations have been in effect, comparative information is not available and therefore no comparative information has been provided.
Principal Activities
The Line Business operates a line business activity, as defined by Regulation 2 of the Electricity (Information Disclosure) Regulations 1994, in and around the mid and far North.
The Energy Trading Business operates an energy business activity as defined by Regulation 2 of the Electricity (Information Disclosure) Regulations 1994, in and around the mid and far North.
GENERAL ACCOUNTING POLICIES
The general accounting policies recognised as appropriate for the measurement and reporting of results and financial position under the historical cost method have been followed in the preparation of these financial statements.
Reliance is placed on the fact that the Company is a going concern.
Accrual accounting is used to match revenues and expenses.
Methodology of Separation of Business
Top Energy Limited has generally followed the Electricity Disclosure Guidelines dated 23 June 1994, as issued by the Ministry of Commerce, with the exceptions in the Allocation Methodologies Disclosure which is available on request in accordance with Regulation 19.
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VUW Te Waharoa —
NZ Gazette 1995, No 91
NZLII —
NZ Gazette 1995, No 91
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Certification of Financial Statements, Performance Measures and Statistics
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💰 Finance & Revenue25 August 1995
Financial Statements, Performance Measures, Statistics, Energy Delivery, Electricity Disclosure