New Zealand Gazette – 1996 – No. 117

Page 2956

✨ Financial Statements

2956 NEW ZEALAND GAZETTE No. 117

SHARE CAPITAL

	Lines		Generation		Energy Trading
	$000		$000		$000
	1996	1995	1996	1995	1996	1995

Authorised Capital
35,000,000 ordinary
of $1 each | 15,279 | 15,279 | 19,715 | 19,715 | 6 | 6 |

Issued and Paid Up Capital
Ordinary Shares of $1 Each
35,000,000 issued shares | 15,279 | 15,279 | 19,715 | 19,715 | 6 | 6 |

Total paid up Ordinary Capital | 15,279 | 15,279 | 19,715 | 19,715 | 6 | 6 |

RETAINED EARNINGS

	Lines		Generation		Energy Trading
	$000		$000		$000
	1996	1995	1996	1995	1996	1995

Opening Balance | 1,553 | 244 | 2,047 | 428 | 833 | 43 |
Net Surplus for the Year | 2,694 | 1,309 | 3,336 | 1,619 | 605 | 790 |
| 4,247 | 1,553 | 5,383 | 2,047 | 1,438 | 833 |

CONTINGENCY LIABILITY

Egmont Electricity Limited has committed itself to partially funding the development of a covered swimming pool in Hawera. It is not known when the funding will be required, but the expected amount is $150,000.

CAPITAL COMMITMENTS

At 31 March 1996 there was no capital expenditure contracted for which had not been provided for in the accounts for the twelve months ended 31 March 1996.

FINANCIAL INSTRUMENTS

Credit Risk

Financial instruments which potentially subject the Company to credit risk principally consist of bank balances and accounts receivable.

The Company performs credit evaluations on all customers requiring credit and generally does not require collateral.

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VUW Te Waharoa — NZ Gazette 1996, No 117

NZLII — NZ Gazette 1996, No 117

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Egmont Electricity Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated23 August 1996
KeywordsShare Capital, Retained Earnings, Contingency Liability, Capital Commitments, Financial Instruments, Egmont Electricity Limited

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