New Zealand Gazette – 1995 – No. 93

Page 2873

✨ Financial Statements



4 SEPTEMBER NEW ZEALAND GAZETTE 2873

4 SHARE CAPITAL 1995
$
Authorised, Issued & Paid-up Share Capital 8,000,000
8,000,000 ordinary shares of $1 each

In accordance with the Company's establishment plan approved by the Minister of Energy,
8,000,000 fully paid ordinary shares of $1 each were issued to the Waipa Power Trust.

5 CAPITALISATION OF ASSETS

The capitalisation of assets reserve was initially created to represent the difference between
the net assets taken over by the Company on 1 May 1993 and the par value of fully paid up
shares issued to Waipa Power Trust.
1995
$
Net assets of Te Awamutu and Cambridge 15,903,349
Electric Power Boards taken over on 1 May 1993
Par value of shares issued as fully paid up 8,000,000
Capitalisation of Assets Reserve 7,903,349

6 FINANCIAL INSTRUMENTS

The estimated fair value of Waipa Power Limited's financial instruments at 31 March 1995
are as follows: 1995
$
Assets
Cash and bank 273,246
Short term investments 4,864,322

The following methods and assumptions were used to estimate the fair value of each
class of financial instrument for which it is practical to estimate that value:

Cash and bank
The carrying amount of these is equivalent to the fair value.

Investments
The carrying amount of these items is equivalent to the fair value.

The definition of Short term investments is call and deposits maturing within one year.

Credit Risk
Waipa Power Limited places its cash and short term deposits with high credit quality
financial institutions with a recognised credit rating of A- or better and limits the amount
of credit exposure to any one institution, as set forth by the board of directors. While the
company may be subject to credit losses up to the contract amounts in the event of
non-performance by its counterparts, it does not expect such losses to occur.



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✨ LLM interpretation of page content

🏭 Financial Performance Statement for Waipa Power Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Share Capital, Capitalisation of Assets, Financial Instruments, Cash and Bank, Short term investments, Credit Risk