New Zealand Gazette – 1997 – No. 119

Page 2821

✨ Financial Statements

8 SEPTEMBER
NEW ZEALAND GAZETTE
2821

TOP ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS FOR THE 12 MONTHS ENDED 31 MARCH 1997

	LINE BUSINESS $		ENERGY TRADING $
	1997	1996	1997	1996
1 INCOME
Sales of electricity	15,385,821	14,966,593	14,087,047	12,792,224
Other sales revenue	42,363	45,516	42,273	44,088
Total sales revenue	15,428,184	15,012,109	14,129,320	12,836,312
Other income	353,503	198,257	62,305	51,884
Capital contributions	255,565	82,203	-	-
Dividends received	-	-	99,677	-
Total income	16,037,252	15,292,569	14,291,302	12,888,196

2 NET PROFIT BEFORE TAXATION

The net profit before taxation is stated after charging:


Loss/(Profit) on disposal of fixed assets	70,031	(42)	2,280	(656)
Depreciation	405,169	367,937	42,095	38,525
Bad debts	80,998	61,482	72,179	52,857
Doubtful debts	1,940	(18,614)	1,729	(15,909)
Auditors - audit services	14,013	8,370	3,503	2,092
- other services	12,426	21,572	3,107	5,393
Directors' fees	40,920	38,030	10,230	9,506
Infrastructural maintenance - accrued	(364,844)	320,809	-	-

3 NET FINANCE COSTS

Comprise:


Interest - term debt	920,321	959,121	3,043	2,922
Interest - other	20,589	21,230	68	65
Gross finance costs	940,910	980,351	3,111	2,987
Less - investment income	99,303	20,328	328	62
Net finance costs	841,607	960,023	2,783	2,925

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VUW Te Waharoa — NZ Gazette 1997, No 119

NZLII — NZ Gazette 1997, No 119

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Notes to the Special Purpose Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated8 September 1997
KeywordsFinancial Statements, Accounting Policies, Electricity Price Hedging, Long Term Debt, Top Energy Limited

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