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New Zealand Gazette – 1996 – No. 98

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✨ Financial Statements

2560 NEW ZEALAND GAZETTE No. 98

Electro Power Limited

Electricity Retailing Business

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

12 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.

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 no interest rate exposure.

The business has no off balance sheet financing.

(iii) Foreign exchange

The business has no foreign exchange exposure.

(b) Fair Values

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

	Carrying Value		Fair Value
	1996	1995	1996	1995
	$'000	$'000	$'000	$'000
Accounts receivable	1,235	1,084	1,235	1,084
Sundry creditors	1,127	979	1,127	979

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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 Electricity Retailing Business (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statement, Fixed Assets, Sundry Creditors, Contingent Liabilities, Capital Commitments, Segmental Reporting, Electricity Retailing, Operating Revenues, Operating Expenses, Taxation, Retained Earnings, Accounting Policies, Financial Instruments, Hedges, Mark to Market

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