Internet New Zealand Incorporated

Whainga: .nz for all of Aotearoa The .nz domain is Aotearoa's home online, and the .nz infrastructure is critical to Aotearoa’s Internet and to the performance of the modern Aotearoa economy and the well-being of New Zealanders and our communities. [...] 15 Internet New Zealand Incorporated Notes to the financial statements For the year ended 31 March 2024 1 Reporting entity These financial statements comprise the consolidated financial statements of Internet New Zealand Incorporated ('InternetNZ') for the year ended 31 March 2024 The primary activity of InternetNZ | Ipurangi Aotearoa is the home and guardian for the .nz domain, and it's our missi. [...] The significant accounting policies used in the preparation of these financial statements are summarised below: (a) Basis of consolidation The Group financial statements consolidate the financial statements of the Parent and all entities over which the Parent has the power to govern the financial and operating policies so as to obtain benefits from their activities (defined as "subsidiaries"). [...] Additions and subsequent costs Subsequent costs and the cost of replacing part of an item of property, plant and equipment are recognised as an asset if, and only if, it is probable that future economic benefits or service potential will flow to the Parent and Group and the cost of the item can be measured reliably. [...] Disposals Gains or losses on derecognition of intangible assets are measured as the difference between the net disposal proceeds and the carrying amount of the asset, and recognised in the surplus or deficit for the year.