✨ Financial Statements
3238 NEW ZEALAND GAZETTE No. 133
TOP ENERGY LIMITED
NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 1996
STATEMENT OF ACCOUNTING POLICIES
The financial statements are those of the Line and Energy Trading businesses of Top Energy Limited. Top Energy Limited is owned 100% by the Bay of Islands Electric Power Trust and these organisations are in a “Prescribed Business Relationship” as defined by Regulation 3(1)(a)(ii) of the Electricity (Information Disclosure) Regulations 1994.
The period reported is 1 April 1995 to 31 March 1996.
These financial statements are prepared in accordance with Regulations 6(2) and 6(3) of the Electricity (Information Disclosure) Regulations 1994. The financial statements have not been prepared for the purpose of the Financial Reporting Act 1993, or the Energy Companies Act 1992.
GENERAL ACCOUNTING POLICIES
The general accounting policies recognised as appropriate for the measurement and reporting of results and financial position under the historical cost method, as modified by revaluation of the distribution system, have been followed in the preparation of these financial statements.
Reliance is placed on the fact that the Company is a going concern.
Accrual accounting is used to match revenues and expenses.
Methodology of Separation of Business
Top Energy Limited has generally followed the Electricity Disclosure Guidelines dated 23 June 1994, as issued by the Ministry of Commerce, with the exceptions in the Allocations Methodologies Disclosure which is available on request in accordance with Regulation 19.
PARTICULAR ACCOUNTING POLICIES
The following particular accounting policies which significantly affect the measurement of financial performance and financial position have been applied.
1 Sales
Sales shown in the Statement of Financial Performance comprise the amounts received and receivable by the Company for electricity and goods and services supplied to customers in the ordinary course of business. Sales are stated exclusive of Goods and Services Tax collected from customers.
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VUW Te Waharoa —
NZ Gazette 1996, No 133
NZLII —
NZ Gazette 1996, No 133
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Electricity Information Disclosure for Top Energy Limited
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🏭 Trade, Customs & IndustryElectricity, Financial Statements, Performance Measures, Top Energy Limited