New Zealand Gazette – 1996 – No. 117

Page 2957

✨ Financial Statements Notes

13 SEPTEMBER NEW ZEALAND GAZETTE 2957

Maximum exposures to credit risk as at balance date are:

	Lines $000		Generation $000		Energy Trading $000
	1996	1995	1996	1995	1996	1995
Bank Balances	(625)	(155)	365	429	531	(163)
Short Term Deposits	0	0	0	265	902	0
Receivables	1,206	1,235	691	61	1,232	1,343

Concentrations of Credit Risk

The Company is not exposed to any concentrations of credit risk.

Credit Facilities

The Company has total term liabilities of $31,252,000 at 31 March 1996 as detailed in Note 8.

Fair Values

The estimated fair values of the financial instruments are as follows:

	Lines $000		Generation $000		Energy Trading $000
	1996	1995	1996	1995	1996	1995
Bank Balances:
Carrying Amount	(625)	(155)	365	429	531	(163)
Fair Value	(625)	(155)	365	429	531	(163)
Short Term Deposits:
Carrying Amount	0	0	0	265	902	0
Fair Value	0	0	0	265	902	0
Receivables:
Carrying Amount	1,206	1,235	691	61	1,232	1,343
Fair Value	1,206	1,235	691	61	1,232	1,343
Payables:
Carrying Amount	1,517	1,281	3,506	1,988	1,357	1,157
Fair Value	1,517	1,281	3,506	1,988	1,357	1,157
Term Loans:
Carrying Amount	10,417	12,553	20,835	25,107	0	0
Fair Value	10,417	12,553	20,835	25,107	0	0
Interest Rate Swap:
Carrying Amount	0	0	0	0	0	0
Fair Value	(308)	(445)	(615)	(889)	0	0

The methods and assumptions used are that the carrying amount in the financial statements reflects the estimated fair value of the financial instruments including receivables, bank and short term deposits, payables and term loans. The fair value of interest rate swaps is estimated based on the quoted market prices of these instruments.

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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
KeywordsCredit Risk, Financial Instruments, Fair Values, Term Liabilities, Egmont Electricity Limited

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