β¨ Financial Statements Notes
NEW ZEALAND GAZETTE
No. 139
TRANS POWER NEW ZEALAND LIMITED GROUP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 1995
FAIR VALUES
| 30 June 1995 Carrying Value $000 | 30 June 1995 Fair Value $000 | 30 June 1994 Carrying Value $000 | 30 June 1994 Fair Value $000 | |
|---|---|---|---|---|
| Assets | ||||
| Cash in bank | 7 | 7 | 4,735 | 4,735 |
| Trade receivables | 59,591 | 59,591 | 53,089 | 53,089 |
| Other receivables | 2,781 | 2,781 | 32,084 | 32,254 |
| Investment | 2,800 | 2,800 | 1,505 | 1,505 |
| Liabilities | ||||
| Bank overdraft | 683 | 683 | 1,421 | 1,421 |
| Trade creditors | 50,314 | 50,314 | 45,972 | 45,972 |
| Debt | 1,597,881 | 1,584,668 | 1,738,933 | 1,740,164 |
| Foreign exchange contracts | 325 | 1,568 | n/a | 514 |
| Interest rate swaps | 28 | 6,848 | n/a | n/a |
| Interest rate options | n/a | 29 | n/a | n/a |
| Forward rate agreements | n/a | 833 | n/a | n/a |
The following methods were used to estimate the fair values for each class of financial instrument:
Cash in bank, Trade receivables/creditors, Other creditors and Investments
The carrying value of these items is equivalent to the fair value.
Other receivables
Other receivables in the 1994 year, represents an amount owing under irrevocable and non-assignable obligations for capital contributions. The carrying value of this receivable is the present value of future payments due, discounted at the rate implicit within the contract. The fair value is calculated as the net present value of future payments, using the current market rate for a debt instrument of a similar term.
For the remainder of Other receivables the carrying value is equivalent to fair value.
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VUW Te Waharoa —
NZ Gazette 1995, No 139
NZLII —
NZ Gazette 1995, No 139
β¨ LLM interpretation of page content
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Notes to the Financial Statements for Trans Power New Zealand Limited
(continued from previous page)
ποΈ Infrastructure & Public WorksFinancial Statements, Fair Values, Assets, Liabilities, Cash, Receivables, Investments, Debt, Foreign Exchange, Interest Rate Swaps