✨ Financial Statements
8 SEPTEMBER NEW ZEALAND GAZETTE 3035
Wairoa Power Limited - Other Businesses
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 1995 continued
8. TERM LIABILITIES
| 1995 | 1994 | |
|---|---|---|
| Local Authority Loans | 830,000 | 1,077,000 |
| Less Current portion | 230,000 | 0 |
| Total Term Liabilities | 600,000 | 1,077,000 |
Repayable as follows:
| 1995 | 1994 | |
|---|---|---|
| Less than two years | 230,000 | 230,000 |
| Two to five years | - | 247,000 |
| Beyond five years | 600,000 | 600,000 |
| Total | 830,000 | 1,077,000 |
Interest Rates:
| Average interest rate | |
|---|---|
| Local Authority Loans | 15.3 |
Security:
Whilst secured by pledge of future earnings the Local Authority loans are not specifically secured over any of the Company’s assets.
Interest rate risk:
The interest rates on the local authority loans range from 9% to 17.75%. These rates are fixed throughout the life of the loans.
9. ACCOUNTS PAYABLE AND ACCRUALS
| 1995 | 1994 | |
|---|---|---|
| Accounts Payable Trade | 0 | 0 |
| Accounts Payable Other | 701,480 | 380,119 |
| Customer Deposits | 0 | 0 |
| Accrued Expenses | 53,864 | 93,443 |
| 755,344 | 473,562 |
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VUW Te Waharoa —
NZ Gazette 1995, No 97
NZLII —
NZ Gazette 1995, No 97
✨ LLM interpretation of page content
🏭
Notes to Financial Statements for Wairoa Power Limited
(continued from previous page)
🏭 Trade, Customs & IndustryTerm Liabilities, Local Authority Loans, Interest Rates, Security, Interest Rate Risk, Accounts Payable, Accruals, Wairoa Power Limited