New Zealand Gazette – 1995 – No. 93

Page 2859

✨ Financial Statements



4 SEPTEMBER NEW ZEALAND GAZETTE 2859
Page 13

TAURANGA ELECTRICITY LIMITED

  1. FUTURE TAXATION BENEFIT
    Balance as at 31 March 1994 24,598 1,770
    Prior year adjustment - -
    Current year 29,604 2,130
    Balance as at 31 March 1995 $54,202 $3,900

  2. ACCOUNTS RECEIVABLE & PREPAYMENTS
    Accounts Receivable & Prepayments $1,280,043 $451,462

  3. TAXATION REFUND
    Balance as at 31 March 1994 (44,527) (136,155)
    Taxation for year (202,514) (315,570)
    Taxation paid 255,811 453,521
    $8,770 $1,796

  4. FINANCIAL INSTRUMENTS
    Credit Risk
    Financial instruments which potentially subject the company to credit risk principally consist of bank balances and accounts receivable. Generally the company does not require collateral. Maximum exposure to credit risk is the amount stated in the financial statements and is net of any recognised provision for losses on these financial instruments.

    Concentrations of Credit Risk
    The company is not exposed to any concentrations of credit risk.

    Credit Facilities
    The company has no arranged bank overdraft facility.

    Interest Rate Risk
    The interest rate risk is limited to the effective interest rate on term loans.

    Fair Values
    The methods and assumptions used are that the carrying amount in the financial statement reflects the estimated fair value of the financial instruments including receivables, bank and investments, accounts payable and term liabilities. The company anticipates term liabilities and investments will be held to maturity.

  5. CONTINGENT LIABILITIES
    The company had contingent liabilities at balance date as follows:

    Uncalled share capital
    PowerBuy Group Limited $35,000

    Subscription for Shares
    PowerBuy Group Limited - 28,000 shares $28,000

The accompanying Statement of Accounting Policies and Notes form part of and are to be read in conjunction with these Financial Statements. The Financial Statements have been prepared solely for the purpose of complying with Regulations 6[2] and 6[3] of the Electricity [Information Disclosure] Regulations 1994 and are not intended for any other purpose.



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🏭 Tauranga Electricity Limited 1995 Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
31 March 1995
Financial Statements, Liabilities, Assets, Valuations, Investments, Tauranga