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New Zealand Gazette – 1995 – No. 91

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✨ Financial Statements Notes

1 SEPTEMBER
NEW ZEALAND GAZETTE
2781

TRUSTPOWER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1995

NOTE 1: STATEMENT OF ACCOUNTING POLICIES (continued)

(h) Foreign Currencies

There were no material foreign currency transactions during the period or outstanding foreign currency balances at balance date.

(i) Comparative Figures

As this is the first year of operations of TrustPower Limited and the first year the Electricity (Information Disclosure) Regulations 1994 apply, no comparative figures are available.

(j) Financial Instruments

Interest Rate Risk

The company has various financial instruments to reduce exposure to fluctuations in interest rates. Any resulting differential to be paid or received is accrued as interest rates change and is recognised as a component of operating revenue or expense.

Credit Risk

The company minimises its credit risk by limiting transactions to counterparties with high credit ratings and limiting the amount of funds placed with any parties at one time.

Collateral

The company does not require collateral or other security to support financial instruments with credit risk.

While the company may be subject to credit losses up to the notional principal or contract amounts in the event of non-performance by its counterparties, it does not expect such losses to occur.

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VUW Te Waharoa — NZ Gazette 1995, No 91

NZLII — NZ Gazette 1995, No 91

The General Assembly Library (on the right) was completed in 1899 and survived the 1907 fire. Now the oldest remaining original Parliament building, still used as the Parliamentary Library.

✨ LLM interpretation of page content

🏭 TrustPower Limited Financial Performance Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Performance, Revenue, Income Tax, Retained Earnings, Dividends, TrustPower

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