New Zealand Gazette – 1995 – No. 82

Page 2299

✨ Financial Statements Continuation

18 AUGUST
NEW ZEALAND GAZETTE
2299

FINANCIAL INSTRUMENTS

12.1 Fair Value

(A) Cash: The carrying value of cash and bank balances is equivalent to their fair value.
(B) Short and Long Term Debt: Interest rates payable by the Company are based on current market interest rates with the effect that carrying amounts are equivalent to fair value.

12.2 Concentration of Credit Risk

Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash deposits, short term investments and debtors. The maximum credit risk is the book value of these financial instruments however, the Company considers the risk of non recovery of these amounts to be minimal.

The Company places its cash deposits with high credit quality financial institutions. Concentration of credit risk with respect to accounts receivable is limited due to the large number of customers.

The Company holds hire purchase contracts over home appliances sold on the basis of time payment.

RELATED PARTIES

Related party transactions involve the advance of short term funds to (and the subsequent repayment from) the Marlborough Electric Power Trust. The Company dividend is also paid to the same Trust.

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VUW Te Waharoa — NZ Gazette 1995, No 82

NZLII — NZ Gazette 1995, No 82

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✨ LLM interpretation of page content

💰 Notes to Financial Statements of Marlborough Electric Limited (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Instruments, Fair Value, Credit Risk, Cash Deposits, Debtors, Hire Purchase, Related Parties, Marlborough Electric

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