✨ Financial Statements
2 SEPTEMBER
NEW ZEALAND GAZETTE
2517
TASMAN ENERGY LIMITED
LINE & OTHER BUSINESSES FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
| Line Business | Other Business | ||
|---|---|---|---|
| $000 | $000 | ||
| 1996 | 1995 | 1996 | 1995 |
10. TERM LIABILITIES
Reserve Bank loans (interest rates 9.5% to 16.75%) 2,114 2,114 233 0
Other 0 233 0
Less Current Portion 38 0 77
2,076 2,114 156 0
Repayable as follows :
1 to 2 years 2,024 38 156
2 to 3 years 52 2,024
3 to 4 years 0 52
2,076 2,114 156 0
A provision to reflect the difference between the actual and current market interest rates is included in the creditors and accruals and is being reversed as loans mature, as set out below. Directors acknowledge this does not conform to current Generally Accepted Accounting Practice. Directors believe the treatment is appropriate given the statutory obligation to "value" the undertaking to ensure that the book value of assets and liabilities used for statutory vesting from Tasman Electric Power Board were realistic using current commercial acquisition practice.
11. COMMITMENTS AND CONTINGENT LIABILITIES
As at 31 March 1996 the group had no material commitments or contingent liabilities that are not included in these financial statements.
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VUW Te Waharoa —
NZ Gazette 1996, No 96
NZLII —
NZ Gazette 1996, No 96
✨ LLM interpretation of page content
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Tasman Energy Limited Financial Performance
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💰 Finance & RevenueFinancial Statements, Term Liabilities, Commitments, Contingent Liabilities, Reserve Bank Loans