New Zealand Gazette – 1995 – No. 139

Page 4553

✨ Financial Statements Notes

27 NOVEMBER
NEW ZEALAND GAZETTE
4553

TRANS POWER NEW ZEALAND LIMITED GROUP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 1995

OPERATING LEASE COMMITMENTS

Commitments in respect of non-cancellable operating leases payable:

	30 June 1995	30 June 1994
	$000	$000
Within one year	2,283	2,426
One to two years	1,634	2,183
Two to five years	4,572	4,376
Later than five years	4,345	5,527
Total Operating Lease Commitments	12,834	14,512

CONTINGENT LIABILITIES

The Company is currently the subject of a periodic review by the Department of Inland Revenue. The Directors cannot reasonably establish, at this time, the financial effect, if any, on Trans Power of this review.

There are no material contingent liabilities for the Group (1994, nil).

SEGMENTAL INFORMATION

The Group operates predominantly in one industry, the transmission of bulk electricity. The Group's operations are carried out in New Zealand and are therefore within one geographical segment for reporting purposes.

FINANCIAL INSTRUMENTS

Currency and Interest Rate Risk

(i) Currency Risk

The Group has exposure to foreign exchange risk as a result of transactions denominated in foreign currencies, arising from normal trading activities.

It is the Group's policy to hedge foreign currency risks as they arise. The Group uses foreign exchange contracts to manage these exposures. Principally, all transactions denominated in foreign currency, with a value greater than $25,000 New Zealand dollars, are hedged.

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VUW Te Waharoa — NZ Gazette 1995, No 139

NZLII — NZ Gazette 1995, No 139

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✨ LLM interpretation of page content

🏗️ Notes to the Financial Statements for Trans Power New Zealand Limited (continued from previous page)

Domain🏗️ Infrastructure & Public Works
KeywordsFinancial Statements, Operating Lease Commitments, Contingent Liabilities, Segmental Information, Financial Instruments, Currency Risk

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