New Zealand Gazette – 1996 – No. 98

Page 2551

✨ Financial Statement Notes

2 SEPTEMBER NEW ZEALAND GAZETTE

Electro Power Limited

Line Business

Notes to and forming part of the financial statements for the year ended 31 March 1996

The Company does not require any collateral or security to support financial instruments due to the quality of the financial institutions dealt with.

With respect to accounts receivable, credit evaluations are performed on customers requiring credit and the Company reserves the right to require collateral. Concentrations of credit risk are limited due to the large number of customers in the Company's customer base.

(ii) Interest Rate

The business has long term fixed rate borrowings used to fund ongoing activities. Currently the business does not hedge the interest rate exposure.

The business has no off balance sheet financing.

(iii) Foreign exchange

The Company has no foreign exchange exposure.

(b) Fair Values

The estimated fair values of Electro Power Limited - Line Business financial assets and liabilities are noted below.

	Carrying Value		Fair Value
	1996	1995	1996	1995
	$'000	$'000	$'000	$'000
Short term deposits	1,575	1,100	1,575	1,100
Accounts receivable	1,185	1,203	1,185	1,203
Sundry creditors	1,969	1,573	1,969	1,573
Term loans	7,500	6,500	7,113	6,229

The Company expects that long term debt will be held to maturity, and accordingly settlement at the reported fair value of these financial instruments is unlikely.

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VUW Te Waharoa — NZ Gazette 1996, No 98

NZLII — NZ Gazette 1996, No 98

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✨ LLM interpretation of page content

🏭 Financial statement disclosure for the Line Business and Electricity Retailing Business (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statement, Disclosure, Line Business, Electricity Retailing, Long Term Liabilities, Contingent Liabilities, Capital Commitments, Segmental Reporting, Financial Instruments, Credit Risk

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