✨ Financial Statements




30 SEPTEMBER NEW ZEALAND GAZETTE 3243

TOP ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 1996

1 INCOME LINE BUSINESS $ ENERGY TRADING $
Sales of electricity 14,966,593 12,792,224
Other sales revenue 45,516 44,088
Total sales revenue 15,012,109 12,836,312
Other income 198,257 51,884
Capital contributions 82,203 0
Total income 15,292,569 12,888,196

| 2 NET PROFIT BEFORE TAXATION | | |
| charging: | | |
| Loss/(Profit) on disposal of fixed assets | (42) | (656) |
| Depreciation | 367,937 | 38,525 |
| Bad debts | 61,482 | 52,857 |
| Doubtful debts | (18,614) | (15,909) |
| Auditors - audit services | 8,370 | 2,092 |
| - other services | 21,572 | 5,393 |
| Directors' fees | 38,030 | 9,506 |
| Infrastructural maintenance - accrued | 320,809 | 0 |

| 3 NET FINANCE COSTS | | |
| Comprise: | | |
| Interest - term debt | 959,121 | 2,922 |
| Interest - other | 21,230 | 65 |
| Gross finance costs | 980,351 | 2,987 |
| Less - investment income | 20,328 | 62 |
| Net finance costs | 960,023 | 2,925 |

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