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New Zealand Gazette – 1996 – No. 158

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✨ Financial Statements Notes

MercuryEnergy

MERCURY ENERGY LIMITED & SUBSIDIARIES

30 OCTOBER

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 1996 continued

22. FINANCIAL INSTRUMENTS

Credit Risk

Financial instruments which potentially subject the company to credit risk principally consist of bank balances, money market deposits and accounts receivable.

The company performs credit evaluations on all customers and requires a bond from customers who have yet to establish a suitable credit history with the company.

The company monitors the credit quality of the major financial institutions that are counterparties to its off balance sheet financial instruments and does not anticipate non performance by the counterparties.

Maximum exposures to credit risk as at balance date are:

	1996		1995
	Line Activities	Electricity Retailing Activities	Other Activities
	$'000	$'000	$'000
Bank Balances	575	30	1,318
Accounts receivable	-	41,796	6,452

The above maximum exposures are net of any recognised provision for losses on these financial instruments. Collateral in the form of customer bonds totalling $1.378 million is held in respect of the above amounts.

NEW ZEALAND GAZETTE

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VUW Te Waharoa — NZ Gazette 1996, No 158

NZLII — NZ Gazette 1996, No 158

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

💰 Mercury Energy Financial Statements Notes (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Instruments, Credit Risk, Bank Balances, Accounts Receivable, Mercury Energy

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