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New Zealand Gazette – 1995 – No. 112

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✨ Financial Statements Notes

3538 NEW ZEALAND GAZETTE No. 112

MERCURY ENERGY LIMITED AND SUBSIDIARIES

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1995 continued

13 FINANCIAL INSTRUMENTS

Credit risk

Financial instruments which potentially subject the company to credit risk principally consist of bank balances, money market deposits and accounts receivable.

The company performs credit evaluations on all customers and requires a bond from customers who have yet to establish a suitable credit history with the company.

The company monitors the credit quality of the major financial institutions that are counter parties to its off balance sheet financial instruments and does not anticipate non performance by the counter parties.

Maximum exposures to credit risk as at balance date are:

	Line Activities $000	Other Activities $000	Total Activities $000
Bank Balances	44	889	933
Money market deposits	-	-	-
Accounts receivable	15,778	34,863	50,641

The above maximum exposures are net of any recognised provision for losses on these financial instruments. Collateral in the form of customer bonds totalling $1,885 million is held in respect of the above amounts.

Concentrations of credit risk

	Line Activities $000	Other Activities $000	Total Activities $000
Bank Accounts	44	889	933
Term Deposits (various banks)	-	-	-

The company is not exposed to any other concentrations of credit risk.

Foreign exchange contracts

At balance date the company had entered into foreign exchange contracts maturing NZD 6,411 million in foreign currency. These are to cover purchases of stores and equipment to be made within the next year.

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VUW Te Waharoa — NZ Gazette 1995, No 112

NZLII — NZ Gazette 1995, No 112

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Notes to Financial Statements of Mercury Energy Limited and Subsidiaries (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial statements, Credit risk, Financial instruments, Bank balances, Money market deposits, Accounts receivable

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