New Zealand Gazette – 1998 – No. 122

Page 2941

✨ Financial Statements



NEW ZEALAND GAZETTE

21 AUGUST

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 1998 (CONTINUED)

  1. CONTINGENT LIABILITIES

In respect of the business activities being reported on, the Company has no contingent liabilities as at 31 March 1998 (1997 - nil).

  1. CAPITAL COMMITMENTS

In respect of the business activities being reported on, the Company has capital commitments amounting to $1,371,224 as at 31 March 1998 ($3,820,392 - 1997).

  1. 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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🏭 Alpine Energy Limited Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Electricity, Information Disclosure, Alpine Energy Limited, Accounts Receivable, Accounts Payable, Goodwill, Fixed Assets, Contingent Liabilities, Capital Commitments, Financial Instruments, Credit Risk, Fair Value