New Zealand Gazette – 1995 – No. 82

Page 2316

✨ Financial Statements

2316 NEW ZEALAND GAZETTE No. 82

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (Continued)

Financial Instruments:
Financial Instruments which potentially subject the company to credit risk principally consist of cash bank balances, short term deposit, and accounts receivable.
Northpower does not generally require collateral from customers.

Northpower places its cash and short term deposits with high credit quality financial institutions (A1 or better), and limits the amount of credit exposure to any one institution in accordance with company policy.

The estimated value of Northpower’s financial instruments are as follows:-

	Line Business		Other Business
	Carrying Value	Fair Value	Carrying Value	Fair Value
	$	$	$	$
Bank Balance	15,126	15,126	15,126	15,126
Short Term Deposit	1,850,000	1,850,000	2,750,000	2,750,000
Receivables	2,245,690	2,245,690	3,894,657	3,894,657

The following methods and assumptions were used to estimate the fair value of each class of financial instrument: bank balances, short term deposits and receivables.

The carrying amount is the fair value for each of these classes of financial instrument.

Segment Information:
Northpower Ltd operates predominantly in the electricity supply industry within the Northland area.
Northpower is also involved in generation and contracting, but neither activity is considered significant.
Contingent Liabilities:
There are no contingent liabilities.
Commitments:

Line Business	Other Business
$	$
600,000	2,700,000

Estimated capital commitments contracted for at balance date

The commitments relate to purchases of land, upgrade of generation plant, and building alterations.

Related Parties:
The Northpower Electric Power Trust is the sole shareholder. Other than dividend payment, there are no related transactions.
Term Receivables:
The Term Receivables are repaid in annual amounts expiring in 2003. Interest of 9.2% is charged on the annual balance owing.

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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

🏭 Financial Statements for Northpower Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Financial Instruments, Segment Information, Contingent Liabilities, Commitments, Related Parties, Term Receivables, Northpower Limited

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