New Zealand Gazette – 1995 – No. 91

Page 2752

✨ Financial Statements and Accounting Policies



2752 NEW ZEALAND GAZETTE No. 91

TOP ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 1995

STATEMENT OF ACCOUNTING POLICIES

The guidelines were issued by the Energy Policy Group of the Ministry of Commerce as guidance to assist electricity companies to comply with the Electricity (Information Disclosure) Regulations 1994.

Except for specific instances, the assets and liabilities of the Company, are owned by the Line Business. The Line Business bears the cost of all transmission costs, including line losses from its own system. These costs are recovered directly from the customers connected to its network.

PARTICULAR ACCOUNTING POLICIES

The following particular accounting policies which significantly affect the measurement of financial performance, and financial position have been applied.

  1. Sales

    Sales shown in the Statement of Financial Performance comprise the amounts received and receivable by the Company for electricity and goods and services supplied to customers in the ordinary course of business. Sales are stated exclusive of Goods and Services Tax collected from customers.

  2. Joint Venture Accounting

    The Company’s interest in joint venture activities where material is recognised in the respective classification categories at the amount of:

    a) The Company’s share in each of the individual assets employed in the joint venture;

    b) Liabilities incurred in relation to the joint venture, including the Company’s share of liabilities for which it is severally liable; and

    c) The Company’s share of net expenses incurred in relation to the joint venture.

    Continued...

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✨ LLM interpretation of page content

💰 Certification of Financial Statements, Performance Measures and Statistics (continued from previous page)

💰 Finance & Revenue
25 August 1995
Financial Statements, Performance Measures, Statistics, Energy Delivery, Electricity Disclosure