✨ Financial Performance Measures
4 MARCH 2008
NEW ZEALAND GAZETTE, No. 50
1429
SCHEDULE 1—PART 7
FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS
| Derivation Table | Input and Calculations | Symbol in formula | ROF | ROE | ROI |
|---|---|---|---|---|---|
| Operating surplus before interest and income tax from financial statements | 6,883,989 | ||||
| Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIIT) | 3,492 | ||||
| Interest on cash, bank balances, and short-term investments (IST) | 6,887,480 | a | 6,887,480 | ||
| OSBIIT minus IST^1^ | 4,177,002 | 6,887,480 | |||
| Net surplus after tax from financial statements | 4,177,002 | n | 4,177,002 | ||
| Amortisation of goodwill and amortisation of other intangibles | 0 | g | add | add | add |
| Subvention payment | 0 | s | |||
| Depreciation of SFA at BV (x) | 4,254,399 | add | add | add | |
| Depreciation of SFA at ODV (y) | 4,254,399 | ||||
| ODV depreciation adjustment | 0 | d | add | add | add |
| Subvention payment tax adjustment | 243,678 | r^1^ | deduct | ||
| Interest tax shield | 0 | q | 243,678 | ||
| Revaluations | 0 | ||||
| Income tax | 1,968,569 | p | |||
| Numerator | OSBIIT^AO^ = a + g + s + d | 6,887,480 | NSA^T^ = n + g + s - r^1^ | 4,177,002 | |
| OSBIIT^AO^ = 4,675,232 |
| Fixed assets at end of previous financial year (FA^p^) | 107,000,833 | | | | |
| Fixed assets at end of current financial year (FA^c^) | 139,196,550 | | | | |
| Adjusted net working capital at end of previous financial year (ANWC^p^) | 1,017,025 | | | | |
| Adjusted net working capital at end of current financial year (ANWC^c^) | 1,520,404 | | | | |
| Average total funds employed (ATFE) | 122,847,052 | c | 122,847,052 | | 132,847,052 |
| Total equity at end of previous financial year (TE^p^) | 85,622,043 | | | | |
| Total equity at end of current financial year (TE^c^) | 113,480,864 | k | | 99,558,453 | |
| Average total equity | 99,551,453 | | | | |
| WUC at end of previous financial year (WUC^p^) | 1,414,169 | | | | |
| WUC at end of current financial year (WUC^c^) | 1,056,097 | | | 1,254,602 | 1,254,602 |
| Average total works under construction | 1,254,031 | e | deduct | deduct | deduct |
| Revaluations | 0 | | | | |
| Half of revaluations | 0 | r/2 | | | |
| Intangible assets at end of previous financial year (IA^p^) | 0 | | | | |
| Intangible assets at end of current financial year (IA^c^) | 0 | | | | |
| Average total intangible asset | 0 | m | add | add | add |
| Subvention payment at end of previous financial year (S^p^) | 0 | | | | |
| Subvention payment at end of current financial year (S^c^) | 0 | | | | |
| Subvention payment tax adjustment at end of previous financial year | 0 | | | | |
| Subvention payment tax adjustment at end of current financial year | 0 | v | | add | |
| System fixed assets at end of previous financial year at book value (SFA^p^BV) | 104,895,197 | | | | |
| System fixed assets at end of current financial year at book value (SFA^c^BV) | 137,467,687 | | | | 121,181,592 |
| Average value of system fixed assets at book value | 121,181,592 | f | deduct | deduct | |
| System Fixed assets at year beginning at ODV value (SFA^p^ODV) | 100,702,000 | | | | |
| System Fixed assets at end of current financial year at ODV value (SFA^c^ODV) | 104,456,750 | h | | | 102,579,375 |
| Average value of system fixed assets at ODV value | 102,579,375 | | | | |
| Denominator | | ATFE^AO^ = e + f + (k + m) + h | 162,900,232 | ATE^AO^ = k + m | 79,639,633 |
| | | | | | ATFE^AO^ = 102,390,232 |
Financial Performance Measure:
ROF = OSBIIT^AO^/ATFE^AO^ × 100 = 6.7%
ROE = NSA^T^/ATE^AO^ × 100 = 5.2%
ROI = OSBIIT^AO^/ATFE^AO^ × 100 = 4.5%
1 Maximum statutory income tax rate applying to corporate entities
^1^ subscript ‘p’ = end of the previous financial year
ROF = return on funds
ROE = return on equity
ROI = return on investment
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 50
Gazette.govt.nz —
NZ Gazette 2008, No 50
✨ LLM interpretation of page content
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Notes to Financial Statements of Top Energy Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial statements, Operating revenue, Expenditure, Line charges, Transfer payments, Depreciation, Amortisation, Top Energy Limited