New Zealand Gazette – 1997 – No. 134

Page 3148

✨ Financial Statements

3148 NEW ZEALAND GAZETTE No. 134

WAIPA POWER LIMITED - LINE BUSINESS

10 FINANCIAL INSTRUMENTS

Fair Value

The estimated fair value of Waipa Power Limited's financial instruments at 31 March 1997 are stated in the Statement of Financial Position.

Credit Risk

Waipa Power Limited places its cash and short term deposits with high credit quality financial institutions with a recognised credit rating of A- or better and limits the amount of credit exposure to any one institution, as set forth by the board of directors. While the company may be subject to credit losses up to the contract amounts in the event of non-performance by other parties, it does not expect such losses to occur.

11 CONTINGENT LIABILITIES AND CAPITAL COMMITMENTS

As at balance date the Company had no contingent liabilities or capital commitments (1996 Nil).

12 RELATED PARTIES

Related party transactions in the accounts of Waipa Power Limited are,

i) Related Parties purchase goods and services on normal terms of trade.

In addition, provision has been made in the accounts for payment of a dividend to the Waipa Power Trust of $899,803 (1996 $1,251,387)

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✨ LLM interpretation of page content

🏭 Financial Statements of Waipa Power Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Financial Instruments, Fair Value, Credit Risk, Contingent Liabilities, Capital Commitments, Related Parties, Dividends, Waipa Power Limited

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