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New Zealand Gazette – 1997 – No. 119

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✨ Financial Statements Notes

NEW ZEALAND GAZETTE

No. 119

TOP ENERGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTS

FOR THE 12 MONTHS ENDED 31 MARCH 1997

9 TERM LIABILITIES

LINE BUSINESS		ENERGY TRADING
	1997	1996	1997
	$	$	$
Development Loan 33	5,003,532	5,053,950	16,544
Renewal Loan 34	727,786	735,120	2,406
	5,731,319	5,789,070	18,950
Less current portion	5,003,532	-	16,544
Term liabilities	727,786	5,789,070	2,406

Repayable as follows:

Due after 1 but before 2 years
Due after 2 but before 5 years


	-	5,053,950	-
	727,786	735,120	2,406
Total	727,786	5,789,070	2,406

No securities have been given in respect of liabilities.

	Interest Rate	Repayable	Fair Value
	%
Development Loan	15.85-15.95	01.07.1997	5,094,596
33
Renewal Loan 34	16.00	01.10.2000	997,713

Term liabilities of $5,600,000 were repurchased by the Company at 31 March 1995 and the resulting financial asset has been offset against the relevant financial liability in these accounts. No risk attaches to this repurchase. During the period and in the future, interest received from the investment will be deducted from the interest paid on the liability when disclosed by way of note in the financial statements, until such time as the loan is fully cancelled.

10 CREDITORS AND ACCRUALS

LINE BUSINESS		ENERGY TRADING
	1997	1996	1997
	$	$	$
Trade Creditors	644,716	1,074,933	1,639,729
Provision for
retirement payments	20,391	27,647	4,245
Provision for holiday pay	122,302	119,832	25,464
Other Accruals	1,269,443	1,467,419	106,306
	2,056,852	2,689,831	1,775,744

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VUW Te Waharoa — NZ Gazette 1997, No 119

NZLII — NZ Gazette 1997, No 119

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✨ LLM interpretation of page content

🏭 Notes to the Special Purpose Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated8 September 1997
KeywordsFinancial Statements, Term Liabilities, Creditors, Accruals, Top Energy Limited

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