✨ Financial Statements Notes
NEW ZEALAND GAZETTE
2 SEPTEMBER
2511
TASMAN ENERGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
1. STATEMENT OF ACCOUNTING POLICIES
REPORTING ENTITY
Tasman Energy Limited is a public company registered under the Companies Act 1955.
Tasman Energy Limited is an issuer for the purposes of the Financial Reporting Act 1993.
The consolidated financial statements are for the group comprising Tasman Energy Limited and its subsidiaries and have been prepared pursuant to the Energy Companies Act 1992 and in accordance with the requirements of the Companies Act 1955 and the Financial Reporting Act 1993.
MEASUREMENT BASE
The financial statements have been prepared on the basis of historical cost with the exception of certain items for which specific accounting policies are disclosed.
The assets and liabilities of Tasman Energy Limited were vested from the Tasman Electric Power Board on 1 May 1993 in accordance with the Establishment Plan approved by the Governor General by Order of Council on 26 April 1993.
SPECIFIC ACCOUNTING POLICIES
The following specific accounting policies which materially affect the measurement of financial performance and the financial position have been applied.
(a) Basis of Consolidation
No inter business transaction between the Line and Other businesses have been eliminated.
(b) Recognition of Revenue
Electricity meters are read on the basis of constant cycles each year. Sales of electricity include an estimated amount for accrued sales from meters unread as at 31 March 1996.
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VUW Te Waharoa —
NZ Gazette 1996, No 96
NZLII —
NZ Gazette 1996, No 96
✨ LLM interpretation of page content
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Tasman Energy Limited Financial Performance
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💰 Finance & RevenueFinancial Performance, Revenue, Operating Profit, Surplus, Taxation, Dividends, Retained Earnings, Accounting Policies, Consolidation, Revenue Recognition