New Zealand Gazette – 1998 – No. 158

Page 3805

✨ Financial Statements



25 SEPTEMBER NEW ZEALAND GAZETTE

TOP ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 1998

LINE BUSINESS ENERGY TRADING
$ 1,998 $ 1,997
1 INCOME
Sales of electricity 15,179,808 15,385,821 14,567,079 14,087,047
Other sales revenue 40,882 42,363 40,882 42,273
Total sales revenue 15,220,690 15,428,184 14,607,961 14,129,320
Other income 10,079 353,503 29,651 62,305
Capital contributions 175,114 255,565 - 99,677
Dividends received - - - -
Total income 15,405,883 16,037,252 14,637,612 14,291,302

2 NET PROFIT BEFORE TAXATION

The net profit before taxation is stated after charging:

LINE BUSINESS ENERGY TRADING
$ 1,998 $ 1,997
Loss/(Profit) on disposal of
fixed assets 2,062 70,031 38,870 2,280
Depreciation 419,528 405,169 42,500 42,095
Bad debts 51,740 80,998 50,500 72,179
Doubtful debts 41,038 1,940 40,054 1,729
Auditors – audit services 14,813 14,013 3,707 3,503
- other services 4,425 12,426 1,103 3,107
Directors' fees 66,190 40,920 16,548 10,230
Infrastructural maintenance –
adjustment (33,863) (364,844) - -

3 NET FINANCE COSTS

Comprise:

LINE BUSINESS ENERGY TRADING
$ 1,998 $ 1,997
Interest – term debt 978,891 920,321 31,577 3,043
Interest – other 7,370 20,589 238 68
Gross finance costs 986,261 940,910 31,815 3,111
Less - investment income 1,009,938 99,303 32,579 328
Net finance costs (23,677) 841,607 (764) 2,783


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✨ LLM interpretation of page content

💰 Notes to the Special Purpose Financial Statements for Top Energy Limited (continued from previous page)

💰 Finance & Revenue
Financial Statements, Income, Net Profit, Finance Costs, Top Energy Limited