β¨ Financial Statements
NEW ZEALAND GAZETTE
No. 91
TOP ENERGY LIMITED
FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 1995
| 10. TERM LIABILITIES | Interest Rate% | Repayable | Line Business Principal | Energy Trading Principal |
|---|---|---|---|---|
| Development Loan 24 | 5.75 | 12.02.95 | 0 | ... |
| Development Loan 28 | 8.50 | 01.10.95 | 15,000 | ... |
| Development Loan 33 | 15.85-15.95 | 01.07.97 | 5,500,000 | ... |
| Renewal Loan 34 | 16.65 | 01.10.95 | 487,000 | ... |
| Renewal Loan 34 | 16.00 | 01.10.2000 | 800,000 | ... |
Total | | | 6,802,000 | ... |
Less current portion | | | 502,000 | ... |
Term liabilities | | | 6,300,000 | ... |
Repayable as follows:
Due after 1 but before 2 years | | | 0 | ... |
Due after 2 but before 5 years | | | 5,500,000 | ... |
Due after 5 but before 10 years | | | 800,000 | ... |
| | | 6,300,000 | |
No securities have been given in respect of liabilities.
Term liabilities of $5,600,000 were repurchased by the Company at 31 March 1995 and the resulting financial asset has been offset against the relevant financial liability in these accounts. No risk attaches to this repurchase. In the future, interest received from the investment will be deducted from the interest paid on the liability when disclosed by way of note in the financial statements, until such time as the loan is fully cancelled.
11. CREDITORS AND ACCRUALS
Included in creditors and accruals are the following provisions:
| Line Business | Energy Trading | |
|---|---|---|
| Provision for retirement payments | 64,352 | 0 |
| Provision for holiday pay | 369,252 | 6,750 |
| 433,604 | 6,750 |
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VUW Te Waharoa —
NZ Gazette 1995, No 91
NZLII —
NZ Gazette 1995, No 91
β¨ LLM interpretation of page content
π°
Financial Statements for Top Energy Limited
(continued from previous page)
π° Finance & RevenueFinancial Statements, Term Liabilities, Development Loans, Renewal Loans, Creditors, Accruals