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New Zealand Gazette – 1996 – No. 133

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✨ Financial Statements

30 SEPTEMBER
NEW ZEALAND GAZETTE
3251

TOP ENERGY LIMITED

SPECIAL PURPOSE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 MARCH 1996

FINANCIAL INSTRUMENTS

b.  **Concentration of Credit Risk**
    In the normal course of its business, the Company incurs credit risk from trade debtors and transactions with financial institutions.

    The Company has a credit policy which is used to manage its exposure to credit risk.  As part of this policy, limits on exposures with counterparties have been set and approved by the Board of Directors and are monitored on a regular basis.

    The Company does not have any significant concentrations of credit risk.  The Company does not require any collateral or security to support financial instruments as it only deposits with, or lends to, banks and other financial institutions of recognised quality.  The Company does not expect the non-performance of any material obligations at balance date.

c.  **Fair Values**
    The following methods were used to estimate the fair values of these classes of financial instruments:

    i.  Cash and liquid deposits, debtors and other accounts receivable including sundry debtors, creditors and other accounts payable including sundry creditors, loans payable within twelve months.

        The carrying value of these items is equivalent to their fair value.

    ii. Investments
        The investment of the Company is for shares in an unlisted Company.

    iii. Term Liabilities
        As previously noted, the Company revalues and restructures term debt at balance date, to reflect current fair market rates.  Therefore the carrying value in the accounts, including debt restructuring provision, reflects the fair value of term debt.

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VUW Te Waharoa — NZ Gazette 1996, No 133

NZLII — NZ Gazette 1996, No 133

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✨ LLM interpretation of page content

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

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Financial Instruments, Credit Risk, Fair Values, Financial Statements, Top Energy Limited

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