Financial Statements




1 SEPTEMBER
NEW ZEALAND GAZETTE
2757

TOP ENERGY LIMITED
FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 1995

  1. INCOME

Sales of electricity 13,817,218 13,308,122
Other sales revenue 1,494,133
Total sales revenue 15,311,351 13,308,122

Other income 344,739
Capital contributions 291,197

Total income 15,947,287 13,308,122

  1. NET PROFIT BEFORE TAXATION

The net profit before taxation is stated after charging:

Loss on disposal of fixed assets 61,606
Audit fees 21,065 3,717
Depreciation 677,890 259
Directors’ fees 52,700 9,300

Additional depreciation of $50,372 on transformers previously not depreciated but now adjusted for the prior year value of depreciation, has been included in depreciation expense for the current year.

  1. NET FINANCE COSTS

Comprise:
Interest - term debt 1,985,482 0
Interest - other 553
Gross finance costs 1,986,035 0
Less- investment income 529,140 0
Net Finance costs 1,456,895 0

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💰 Financial Statements for Top Energy Limited (continued from previous page)

💰 Finance & Revenue
Financial Statements, Income, Net Profit, Finance Costs, Depreciation, Audit Fees