✨ Financial Statements Notes
10 SEPTEMBER
NEW ZEALAND GAZETTE
2783
TOP ENERGY LIMITED
NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS
STATEMENT OF ACCOUNTING POLICIES
FOR THE 12 MONTHS ENDED 31 MARCH 1999
10 Financial Instruments
All financial instruments are recognised in the Statement of Financial Position except for off balance sheet instruments such as guarantees.
Financial instruments including cash, bank, accounts receivable, accounts payable, and term debt are generally carried at their estimated fair value.
Top Energy Ltd has entered into various financial instruments with off-balance sheet risk for the primary purpose of reducing its exposure to interest. While these financial instruments are subject to risk that market rates may change subsequent to acquisition, such changes would generally be offset by opposite effects on the items being hedged.
Changes in Accounting Policies
There were no material changes in accounting policy, with the exception of those mandatory provisions of the Electricity Regulations 1999. In accordance with the Handbook no comparatives have been shown for items required to be disclosed for the first time this year.
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VUW Te Waharoa —
NZ Gazette 1999, No 116
NZLII —
NZ Gazette 1999, No 116
✨ LLM interpretation of page content
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Notes to the Special Purpose Financial Statements for Top Energy Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Accounting Policies, Financial Instruments, Off-Balance Sheet Risk, Interest Exposure, Electricity Regulations 1999