✨ Financial Statements
2152 NEW ZEALAND GAZETTE No. 90
ALPINE ENERGY LIMITED
FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH THE ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 1994
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 1997 (CONTINUED)
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CONTINGENT LIABILITIES
In respect of the business activities being reported on, the Company has no contingent liabilities as at 31 March 1997.
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CAPITAL COMMITMENTS
In respect of the business activities being reported on, the Company has capital commitments amounting to $3,820,392 as at 31 March 1997 ($1,468,659 - 1996).
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FINANCIAL INSTRUMENTS
Concentration of Credit Risk
Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of bank deposits and accounts receivable. The maximum credit risk is the book value of these financial instruments however, the Company considers the risk of non recovery of these amounts to be minimal.
The Company places its cash and bank deposits with high credit quality financial institutions and limits the amount of credit exposure to any one financial institution.
The Company continually evaluates and monitors the credit quality of its customers. There is a concentration of credit risk in relation to activities with associated entities. This risk is managed indirectly through appointments to the governing bodies of these associated entities.
Fair Value
The carrying value of cash and bank deposits, accounts receivable and accounts payable is equivalent to their fair value.
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VUW Te Waharoa —
NZ Gazette 1997, No 90
NZLII —
NZ Gazette 1997, No 90
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Alpine Energy Limited Financial Statements
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