✨ Financial Statements
2550 NEW ZEALAND GAZETTE No. 98
Electro Power Limited
Line Business
Notes to and forming part of the financial statements
for the year ended 31 March 1996
9 LONG TERM LIABILITIES
Fixed term loans with Bank of New Zealand Limited
| 1996 | 1995 | |
|---|---|---|
| $'000 | $'000 | |
| Schedule of maturities: | ||
| Due 1 to 2 years | 4,000 | - |
| Due 2 to 3 years | - | 3,000 |
| Due 3 to 4 years | 3,500 | - |
| Due 4 to 5 years | - | 3,500 |
| Total | 7,500 | 6,500 |
Interest rates for the fixed term loans range between 7.78% and 9.12%.
10 CONTINGENT LIABILITIES
There were no significant contingent liabilities as at 31 March 1996 (1995: nil).
11 CAPITAL COMMITMENTS
As at 31 March 1996 there were outstanding capital commitments of $447,000 (1995: $291,000) in relation to the purchase of computer software, office furniture and modifications to the office building.
12 SEGMENTAL REPORTING
Electro Power Limited operates predominantly in one industry, the supply and distribution of electricity. All operations are carried out within New Zealand, and are therefore within one geographical segment for reporting purposes.
13 FINANCIAL INSTRUMENTS
(a) Nature of activities and management policies with respect to financial instruments
(i) Credit
In the normal course of business the Company incurs credit risk from trade debtors and financial institutions. There are no significant concentrations of credit risk. The Company has a credit policy which is used to manage this exposure to credit risk. As part of this policy limits on exposures have been set and are monitored on a regular basis.
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VUW Te Waharoa —
NZ Gazette 1996, No 98
NZLII —
NZ Gazette 1996, No 98
✨ LLM interpretation of page content
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Financial statement disclosure for the Line Business and Electricity Retailing Business
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statement, Disclosure, Line Business, Electricity Retailing, Long Term Liabilities, Contingent Liabilities, Capital Commitments, Segmental Reporting, Financial Instruments, Credit Risk