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New Zealand Gazette – 1996 – No. 133

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✨ Financial Statements Notes

3250 NEW ZEALAND GAZETTE No. 133

TOP ENERGY LIMITED

SPECIAL PURPOSE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 1996

16. FINANCIAL INSTRUMENTS

a. Currency and Interest Rate Risk

Nature of activities and management policies with respect to financial instruments:

i. Currency
The Company does not enter into any material foreign exchange transactions. The Company does not use currency interest rate swaps forward foreign exchange contracts or currency options.

The Company believes it has no material exposure to currency risk at any time.

ii. Interest Rate
The Company has long-term fixed rate borrowings which are used to fund ongoing activities. At balance date each year these long-term borrowings are reassessed to provide for the cost of converting the debt to the fair market value at that date. A provision has been set up for this reassessment purpose.

The Company has not entered into any interest rate swaps, forward rate agreements, interest rate options or interest rate futures.

The Company has no off-balance sheet financial instruments.

iii. Repricing Analysis
As term debt has been revalued to fair market value, the Company has no financial instruments for which repricing analysis would result in a repricing.

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VUW Te Waharoa — NZ Gazette 1996, No 133

NZLII — NZ Gazette 1996, No 133

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Electricity Information Disclosure for Top Energy Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Financial Instruments, Currency Risk, Interest Rate Risk, Repricing Analysis, Financial Statements, Top Energy Limited

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