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New Zealand Gazette – 1998 – No. 116

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✨ Financial Statements Notes

NEW ZEALAND GAZETTE

17 AUGUST

WAITOMO ENERGY SERVICES LIMITED

Electricity and Other Business Activity

Notes to the Financial Statements

For the Year Ended 31st March 1998

NOTE 5:
Deferred Taxation

Represented by the following timing differences:

	1998	1997
Accruals & Provisions	$(430,256)	$(349,525)

NOTE 6:
SEGMENTAL INFORMATION

Waitomo Energy Services operates predominantly in one geographical segment. It is located in the mid-central North Island in the King Country. The head office is located in the township of Te Kuiti.

NOTE 7:
SUBSEQUENT EVENTS

Subsequent to balance date the Government has proposed legislation which will regulate the ability of electricity supply companies to own various assets.

The proposed legislation requires legal separation of the company’s existing line distribution and energy trading assets ultimately this will require the company to transfer part of its existing assets to another entity.

The Directors have yet to finalise a full response to the proposed legislation and decide which assets the existing company will retain.

No adjustments to these financial statements have been made as a result of any possible impact of the amended legislative environment.

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VUW Te Waharoa — NZ Gazette 1998, No 116

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✨ LLM interpretation of page content

🏭 Waitomo Energy Services Limited Financial Performance Statement (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Financial Statements, Notes, Taxation, Segmental Information, Subsequent Events

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