New Zealand Gazette – 1996 – No. 158

Page 4164

✨ Financial Statements Notes



MERCURY ENERGY LIMITED & SUBSIDIARIES

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 1996

Electricity (Information Disclosure) Regulations 1994

  1. STATEMENT OF ACCOUNTING POLICIES

    Reporting Entity

    Mercury Energy Limited is a public company registered under the Companies Act 1955.

    The group consists of Mercury Energy Limited and its subsidiaries.

    The Financial Statements are prepared pursuant to Regulation 6 of the Electricity (Information Disclosure) Regulations 1994.

    The methodology for the allocation of revenues, costs, assets and liabilities between Line, Electricity Retailing and Other activities is publicly disclosed in accordance with Regulation 19 of the Regulations.

    Generally Accepted Accounting Principles

    There is no GAAP for activity reporting.

    Measurement Base

    The accounting principles recognised as appropriate for the measurement and reporting of earnings and financial position on an historical cost basis are followed by the group, except for the revaluation of the distribution system.

    The activity reporting has been prepared on the basis of a notional 50:50 debt equity ratio in the Line Business.

    All costs have been allocated in accordance with either the guidelines issued, or as disclosed by the company.



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💰 Financial Statements and Notes (continued from previous page)

💰 Finance & Revenue
Financial Statements, Accounting Policies, Reporting Entity, Generally Accepted Accounting Principles, Measurement Base