New Zealand Gazette – 1995 – No. 97

Page 3045

✨ Financial Statements



8 SEPTEMBER NEW ZEALAND GAZETTE 3045

Wairoa Power Limited - Lines Business

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1995 continued

  1. TERM LIABILITIES
1995 1994
Local Authority Loans 79,000 549,000
Less Current portion 79,000 470,000
Total Term Liabilities - 79,000

Repayable as follows:

1995 1994
Less than two years 79,000 549,000
Two to five years - -
Beyond five years - -
79,000 549,000

Interest Rates:

Average interest rate
Local Authority Loans 10.0
12.5 (1994)

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 10% to 13%. These rates are fixed throughout the life of the loans.

  1. ACCOUNTS PAYABLE AND ACCRUALS
1995 1994
Accounts Payable Trade 482,543 425,750
Accounts Payable Other 103,417 231,159
Customer Deposits 23,314 26,268
Accrued Expenses 254,679 144,605
863,953 827,782


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✨ LLM interpretation of page content

🏭 Notes to Financial Statements for Wairoa Power Limited (continued from previous page)

🏭 Trade, Customs & Industry
Accounting Policies, Financial Statements, Line Business, Wairoa Power Limited