New Zealand Gazette – 1995 – No. 93

Page 2826

✨ Financial Statements



2826 NEW ZEALAND GAZETTE No. 93

TARANAKI ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1995

1. Statement of Accounting Policies.

General Accounting Policies.

The attached financial statements comprise the following activities of Taranaki Energy Limited, the successor company of New Plymouth Energy, a department of the New Plymouth District Council, and the Taranaki Electric Power Board pursuant to the Energy Companies Act 1992, incorporated under the Companies Act 1955 as amended:

  • Distribution and retailing of electricity and value added services.
  • Distribution and retailing of gas and value added services.
  • Hydro electricity generation

These financial statements have been prepared to comply with the provisions of Section 44 of the Energy Companies Act 1992, the Companies Act 1955 as amended, the Electricity (Information Disclosure) Regulations 1994 and the Financial Reporting Standards and Statements of Standard Accounting Practice as issued by the New Zealand Society of Accountants.

The measurement basis adopted is that of historical cost except where otherwise stated.

Accrual accounting has been used to match revenues earned and expenses incurred.

Reliance is placed on the fact that the company is a going concern.

Particular Accounting Policies.

The following particular accounting policies which materially affect the measurement of financial performance and the financial position have been applied:

Basis of Consolidation.

The consolidated financial statements include those of Taranaki Energy Limited and its subsidiaries, City Gas (Taranaki) Limited and The Hawera Gas Company Limited, accounted for using the purchase method. All significant inter-company transactions and balances are eliminated on consolidation. Only post-acquisition profits are recognised in the consolidated financial statements.

Notes to and forming part of the Financial Statements for the year ended 31 March 1995



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🏭 Taranaki Energy Limited Statement of Financial Performance (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Accounting Policies, Consolidation, Historical Cost, Accrual Accounting, Going Concern