✨ 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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✨ LLM interpretation of page content

πŸ’° Financial Statements for Top Energy Limited (continued from previous page)

πŸ’° Finance & Revenue
Financial Statements, Term Liabilities, Development Loans, Renewal Loans, Creditors, Accruals