New Zealand Gazette – 1997 – No. 107

Page 2505

✨ Financial Statements Notes

27 AUGUST NEW ZEALAND GAZETTE 2505

WAITOMO ENERGY SERVICES LIMITED
Line Business Activity
Notes to the Financial Statements
For the Year Ending 31st March 1997

NOTE 5:
Periods of Repayment
Perpetual

The perpetual loans are subordinated debentures issued to:

Waitomo Energy Services Customer Trust $1,000,000 at a rate of 11%
Northern King Country Development Trust $2,000,000 at a rate of 5.0%

The subordinated debentures are unsecured.

NOTE 6:
Deferred Taxation

Represented by the following timing differences:

Fixed Assets 845,402
Accruals & Provisions (434,734)
410,668

NOTE 7:
FINANCIAL INSTRUMENTS

Fair Values

The fair values of financial instruments are considered to be not materially different from the carrying values shown in the Financial Statements.

Credit Risk

Financial instruments which potentially subject the Company to credit risk principally consist of bank deposits and accounts receivable.

Credit risk with respect to bank deposits is reduced by spreading deposits with a range of high credit quality financial institutions.

Credit risk in respect of debtors is limited due to the large numbers of customers. These debtors are subject to credit control and, with the exception of hire purchase debtors, are unsecured.

Credit risk in respect to electricity hedges at balance date is regarded by the Directors as being minimal.

NOTE 8:
SEGMENTAL INFORMATION

Waitomo Energy Services operates predominantly in one geographical segment. It is located in the mid-central North Island in the King Country. The head office is located in the township of Te Kuiti.

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VUW Te Waharoa — NZ Gazette 1997, No 107

NZLII — NZ Gazette 1997, No 107

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Waitomo Energy Services Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Accounting Policies, Holiday Pay, Investments, Consolidation, Comparative Figures, Perpetual Loans, Subordinated Debentures, Deferred Taxation, Financial Instruments, Credit Risk, Segmental Information

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