✨ Electricity Financial Information
30 AUGUST NEW ZEALAND GAZETTE 2483
WAIPA POWER LIMITED - LINE BUSINESS
4 SHARE CAPITAL
| 1996 | 1995 | |
|---|---|---|
| $ | $ |
Authorised, Issued & Paid-up Share Capital
8,000,000 ordinary shares of $1 each 8,000,000 8,000,000
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.
| 1996 | 1995 | |
|---|---|---|
| $ | $ |
Net assets of Te Awamutu and Cambridge
Electric Power Boards taken over on 1 May 1993 15,903,349 15,903,349
Par value of shares issued as fully paid up 8,000,000 8,000,000
Capitalisation of Assets Reserve 7,903,349 7,903,349
6 FINANCIAL INSTRUMENTS
Fair Value
The estimated fair value of Waipa Power Limited's financial instruments at 31 March 1996 are stated in the Statement of Financial Position.
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 other parties, it does not expect such losses to occur.
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VUW Te Waharoa —
NZ Gazette 1996, No 95
NZLII —
NZ Gazette 1996, No 95
✨ LLM interpretation of page content
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Electricity Information Disclosure by Waipa Power Limited
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🏭 Trade, Customs & IndustryElectricity, Financial Performance, Waipa Power Limited, Line Business, Share Capital, Capitalisation of Assets, Financial Instruments